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Earnings Dip Despite Record Sales At AeroVironment In Second Quarter

Cal Biesecker By
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Earnings Dip Despite Record Sales At AeroVironment In Second Quarter
AeroVironment’s new P550 Group 2 UAS after launch from a Humvee. Photo: AeroVironment

AeroVironment [AVAV] on Wednesday posted lower net income as higher spending on research and development, and acquisition-related expenses ate into the bottom-line despite a modest increase in sales to a company record for the second quarter. Net income fell nearly 60 percent to $7.5 million, 27 cents earnings per share (EPS), from $17.8 million (66 cents EPS) a year ago. Excluding the acquisition-related expenses, which AV expects to continue into its next fiscal year, and amortization expenses, adjusted earnings of…

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