March 5, 2013 |
After posting paltry sales numbers for its third quarter and missing analysts' forecasts by more than half, Monrovia drone maker AeroVironment Inc.'s shares plummeted in after-hours trading. The company reported net income of $3.9 million, or 17 cents a share, for the quarter that ended Jan. 26. That is down $1.8 million from $5.7 million a year earlier. Analysts on average had forecast a gain of 37 cents a share. AeroVironment attributed the downturn to decreased sales of its robotic aircraft and its electric vehicle charging systems.
December 5, 2012 |
AeroVironment Inc., the Monrovia company that makes small spy drones and electric vehicle charging systems, posted second-quarter earnings of $8.7 million, or 39 cents a share, despite decreased sales of its robotic aircraft. The results beat analysts' average estimate of 23 cents a share. In the same period last year the company had a profit of $6.6 million, or 30 cents a share. AeroVironment is the Pentagon's top supplier of small drones - including the Raven, Wasp and Puma models - that give troops on the ground a bird's-eye view of what's happening over a ridge or around a bend.
June 26, 2013 |
Stung by a downturn in drone sales to the military, AeroVironment Inc. saw its revenue drop in half during the fourth quarter from a year earlier. The Monrovia company had revenue of $54.1 million, compared with $110.7 million in last year's fourth quarter. AeroVironment depends largely on funding from the Pentagon, which is winding down its presence in the Middle East and preparing for budget cuts. The company is the Pentagon's top supplier of small drones - including the Raven, Wasp and Puma models - that give troops on the ground a bird's-eye view of what's happening over a ridge or around a bend.
September 8, 2011 |
AeroVironment Inc., the Monrovia company that makes small hand-held drones for the Pentagon and charging systems for electric vehicles, swung to a profit in its first quarter, bolstered by a 62% increase in sales. The company Wednesday posted earnings for the quarter ended July 30 of $326,000, or 1 cent a share, compared with a loss of $3.4 million, or 16 cents, a year earlier. Analysts on average had forecast a profit of 1 cent a share. AeroVironment is the Pentagon's top supplier of small drones, which include the Raven, Wasp and Puma models.
June 27, 2012 |
AeroVironment Inc., a Monrovia company that makes small hand-held drones for the Defense Department and charging systems for electric vehicles, posted a 1% profit gain in its fiscal fourth quarter, bolstered by an increase in sales. The company Tuesday reported net income of $17.8 million, or 80 cents a share, for the quarter ended April 30, compared with a profit of $17.6 million, or 79 cents, for the same period last year. The results beat expectations by industry analysts.
June 26, 2010 |
AeroVironment Inc. shares plunged Friday after the Monrovia-based robotic aircraft maker disclosed that it has been under investigation by the U.S. Justice Department since February. In a filing with the Securities and Exchange Commission, the company said that federal prosecutors have been probing its billing practices for government contracts dating back to fiscal 2006. It said the company "could be adversely affected by a negative audit or investigation by the U.S. government."