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AeroVironment reports 3Q loss

MONROVIA, Calif. (AP) _ AeroVironment Inc. (AVAV) on Tuesday reported a loss of $828,000 in its fiscal third quarter.

On a per-share basis, the Monrovia, California-based company said it had a loss of 4 cents. Earnings, adjusted for pretax expenses, were 9 cents per share.

The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 9 cents per share.

The maker of unmanned aircrafts posted revenue of $63.9 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $63.8 million.

AeroVironment expects full-year earnings to be 45 cents to 65 cents per share, with revenue in the range of $280 million to $300 million.

AeroVironment shares have fallen 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $50.53, an increase of 94 percent in the last 12 months.


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