aerovironment inc (AVAV) Key Developments
AeroVironment Reports Unaudited Consolidated Earnings Results for the First Quarter Ended August 1, 2015; Provides Earnings Guidance for the Year 2016
Sep 1 15
AeroVironment reported unaudited consolidated earnings results for the first quarter ended August 1, 2015. The company's net loss expanded to $6.981 million, or $0.30 loss per diluted share from $3.609 million, or $0.16 loss per diluted share, for the year-ago period. Revenue fell 9% to $47.1 million from $51.9 million. Loss from operations was $9,064,000 against $6,473,000 a year ago. Loss before income taxes was $11,229,000 against $5,670,000 a year ago. Loss per share as adjusted was $0.24 against $0.18 a year ago. Net cash used in operating activities was $11,304,000 against net cash provided by operating activities of $15,730,000 a year ago. Acquisitions of property and equipment were $906,000 against $29,000 a year ago. On an adjusted basis, which excludes the impact of the convertible bond and related equity investment in CybAero AB, EPS loss would have been a $0.24 loss per share compared to an $0.18 loss per share in the same quarter last year.
For fiscal 2016, the company expects to generate revenue between $260 million and $280 million with growth profit margin between 36% and 37.5%.
AeroVironment Receives Orders Value of $47.1 Million from the United States Army
Aug 24 15
AeroVironment (AVAV), announced that it has received 10 orders with an aggregate value of $47.1 million from the United States Army for the company's RQ-11B Raven and RQ-20A Puma AE unmanned aircraft systems.
AeroVironment, Inc. Proposes Amendment to Amended and Restated Certificate of Incorporation
Aug 21 15
AeroVironment, Inc. announced that at the AGM to be held on October 2, 2015, the shareholders will consider the amendment to the company's Amended and Restated Certificate of Incorporation to provide for the annual election of all directors.
AeroVironment, Inc., Annual General Meeting, Oct 02, 2015
Aug 21 15
AeroVironment, Inc., Annual General Meeting, Oct 02, 2015., at 09:00 Pacific Standard Time. Location: 994 Innovators Way. Agenda: To elect Timothy E. Conver and Arnold L. Fishman, each to serve as a Class III director for a three-year term; to ratify the selection of Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending April 30, 2016; to approve an amendment to the company's Amended and Restated Certificate of Incorporation to provide for the annual election of all directors; and to transact such other business as may properly come before the annual meeting or any adjournments or postponements thereof.
United States Army Awards $3.4 Million Contract for AeroVironment RQ-11B Raven Systems to Supply the Spanish Ministry of Defense
Aug 20 15
AeroVironment, Inc. announced it has received a contract from the United States Army totaling $3.4 million for RQ-11B Raven® unmanned aircraft systems (UAS) to supply the Spanish Ministry of Defense via the Foreign Military Sales (FMS) program. Raven is the most widely used UAS in the world. It is designed for rapid deployment and high mobility for military applications requiring low-altitude intelligence, surveillance and reconnaissance. With a wingspan of 4.5 feet and weighing 4.2 pounds, the hand-launched Raven provides aerial observation, day or night, at line-of-sight ranges up to approximately 6.2 miles (10 kilometers).