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

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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