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AeroVironment Posts Strong Fourth Quarter, Sees More Of the Same In New Year

Cal Biesecker By
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AeroVironment Posts Strong Fourth Quarter, Sees More Of the Same In New Year
Switchblade 600 loitering munition. Image: AeroVironment

AeroVironment [AVAV] on Tuesday evening reported strong fourth quarter results driven by record revenue and a handsome bottom-line. Sales in the quarter grew 40 percent to a record $275.1 million versus $197 million a year ago, while net income soared 180 percent to $16.7 million, 59 cents earnings per share (EPS), from $6 million (22 cents EPS) a year ago. Excluding acquisition-related expenses, goodwill impairment, and other non-operating items, adjusted per share earnings of $1.61 topped consensus estimates by 21…

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