August 27, 2013 |
For the third quarter in a row, Monrovia drone maker AeroVironment Inc. reported a sharp downturn in quarterly revenue after a drop in military contracts for its small robotic aircraft. The downbeat report comes as the company battles an upstart Newport Beach activist investment firm over how to improve market valuation. AeroVironment said revenue was $44.1 million in its fiscal first quarter. That's down 24.9% compared with $58.7 million last year. The lack of sales led to net loss of $7.2 million, or 32 cents a share.
April 4, 2013 |
At the height of the wars in the Middle East, AeroVironment Inc. - a drone maker based in Monrovia - soared into the public limelight. In the last decade, AeroVironment became the Pentagon's top supplier of small drones. Its financial balance sheet prospered, its drones delivered results and its technology landed on the cover of Time magazine as one of the year's best inventions in 2011. But these days, not so much. Over the last month the company's shares have plummeted more than 18% as federal spending begins to dry up and the wars in Iraq and Afghanistan come to an end. It lowered its revenue guidance by nearly one-third, to $230 million to $250 million from $348 million to $370 million.
June 22, 2011 |
AeroVironment Inc., the Monrovia company that makes small hand-held drones and charging systems for electric vehicles, posted a 13% profit gain in its fourth quarter bolstered by an increase in sales. Earnings for the quarter that ended April 30 rose to $17.6 million, or 79 cents a share, from $15.6 million, or 71 cents, a year earlier. Analysts on average had forecast a profit of 69 cents. The results were reported after the close of regular trading. AeroVironment shares closed at $28.61, down 1 cent.
July 30, 2001 |
Powered by 14 electric motors not much stronger than hair dryers, a massive flying wing made mostly of plastic wrap will attempt next month to go where no airplane has gone before. Although it will take about eight hours to get there, lumbering at a maximum speed of 25 mph, the Helios solar plane is expected to shatter altitude records and help scientists understand how to fly on Mars. It could ultimately usher in a new era in satellite telecommunications. Developed by AeroVironment Inc.
August 15, 1988
General Motors Corp. has purchased a 15% interest in AeroVironment Inc., a privately held engineering firm in Monrovia, which specializes in alternative energy vehicles. AeroVironment played a large role in the development of Gm's Sunraycer Vehicle race across Australia last November.
March 11, 1998 |
Small, inventive technology companies are so much the heroes of Southern California industry that we sometimes forget that a time comes when a business has to grow. If it doesn't get bigger and richer, it gets left behind, no matter how inventive it is. Childhood's end is a challenge that Aerovironment Inc., a Monrovia-based research company, is facing right now.
November 14, 1985
The City Council has allocated $5,000 to join with several other cities in hiring AeroVironment Inc. of Monrovia, an engineering consulting firm, to analyze technical data on a waste-to-energy plant proposed in Irwindale. Other cities that have either agreed to hire the engineering firm or are considering it are Baldwin Park, Claremont, Covina, Duarte, Glendora, Monrovia and San Dimas.
September 18, 1996
GT Bicycles Inc. said it has formed a partnership with privately held AeroVironment of Monrovia to produce and market an electric bicycle. Terms were not disclosed. GT Bicycles said a prototype of the bicycle, the Charger, will be unveiled Thursday at the Interbike West trade show in Anaheim. GT Bicycles said the joint venture will be called Charger Bicycles LLC.