AeroVironment: Fiscal 4Q Earnings Snapshot

SIMI VALLEY, Calif. (AP) _ AeroVironment Inc. (AVAV) on Tuesday reported fiscal fourth-quarter net income of $17.5 million.

The Simi Valley, California-based company said it had profit of 72 cents per share. Earnings, adjusted for amortization costs and to account for discontinued operations, came to 75 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

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The maker of unmanned aircrafts posted revenue of $135.2 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $122.9 million.

For the year, the company reported profit of $41.1 million, or $1.71 per share. Revenue was reported as $367.3 million.

AeroVironment expects full-year earnings in the range of $1.74 to $1.94 per share, with revenue in the range of $390 million to $410 million.

AeroVironment shares have increased 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $71.91, a rise of 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVAV at https://www.zacks.com/ap/AVAV

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