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AeroVironment Swings To Loss In Second Quarter As Sales Soar

AeroVironment Swings To Loss In Second Quarter As Sales Soar
An AeroVironment Switchblade 600 loitering munition after launch from a General Atomics MQ-9 drone. Photo: AeroVironment

AeroVironment [AVAV] on Tuesday evening said it swung to a loss in its second quarter due to amortization and non-cash accounting expense while sales increased more than 150 percent to a record, largely on the back of the acquisition of Blue Halo in May. The net loss of $17.1 million, 34 cents loss per share, compared with $7.5 million, 27 cents earnings per share (EPS) a year ago. Excluding amortization adjustments and acquisition-related expenses, AV’s adjusted earnings were 44 cents…

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