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Last $26.45 USD
Change Today +0.19 / 0.72%
Volume 85.5K
AVAV On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 3:41 PM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

aerovironment inc (AVAV) Key Developments

AeroVironment, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended January 31, 2015; Provides Earnings Guidance for the Year 2015

AeroVironment, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended January 31, 2015. For the quarter, the company reported total revenue of USD 68,397,000 against USD 69,221,000 a year ago. Income from operations was USD 5,148,000 against USD 8,643,000 a year ago. Income before income taxes was USD 5,088,000 against USD 13,515,000 a year ago. Net income was USD 2,325,000 against net income of USD 11,216,000 a year ago. Diluted earnings per share were USD 0.10 against USD 0.49 a year ago. Earnings per diluted share as adjusted were USD 0.10 against USD 0.34 a year ago. The decrease in revenue resulted from decreased sales in the company’s Efficient Energy Systems (EES) segment of USD 1.3 million offset by an increase in sales in the company’s Unmanned Aircraft Systems (UAS) segment of USD 0.5 million. Earnings per diluted share included an increase of USD 0.15 per share due to the increase in fair value of the conversion option of the company’s convertible bond investment. For the nine months, the company reported total revenue of USD 172,927,000 against USD 178,205,000 a year ago. Loss from operations was USD 5,455,000 against income from operations of USD 5,472,000 a year ago. Loss before income taxes was USD 5,102,000 against income before income taxes of USD 5,043,000 a year ago. Net loss was USD 4,185,000 against net income of USD 5,661,000 a year ago. Basic and diluted loss per share was USD 0.18 against basic and diluted earnings per share of USD 0.25 a year ago. Loss per diluted share as adjusted was USD 0.19 against earnings per diluted share as adjusted of USD 0.28 a year ago. Net cash provided by operating activities was USD 13,543,000 against USD 3,472,000 a year ago. Acquisitions of property and equipment were USD 2,326,000 against USD 6,751,000 a year ago. Acquisitions of intangible assets were USD 150,000 against USD 750,000 a year ago. The decrease in revenue resulted from decreased sales in the company’s UAS segment of USD 6.5 million offset by an increase in sales in the company’s EES segment of USD 1.2 million. Earnings per diluted share included a reduction of USD 0.03 per share due to the decrease in fair value of the conversion option of the company’s convertible bond investment. For fiscal 2015, the company continues to expect to generate revenue of between USD 250 million and USD 270 million and gross profit margin of between 34.5% and 37.5% at the respective revenue levels.

AeroVironment, Inc. to Report Q3, 2015 Results on Mar 03, 2015

AeroVironment, Inc. announced that they will report Q3, 2015 results at 4:30 PM, US Eastern Standard Time on Mar 03, 2015

AeroVironment, Inc., Q3 2015 Earnings Call, Mar 03, 2015

AeroVironment, Inc., Q3 2015 Earnings Call, Mar 03, 2015

AeroVironment Announces Executive Changes

AeroVironment appointed Teresa Covington as interim chief financial officer, effective immediately, until a permanent replacement has been selected and appointed. Covington succeeds Jikun Kim, who has resigned as senior vice president and chief financial officer to pursue other business opportunities. Covington joined AeroVironment in 2011. Earlier, she served as senior vice president and chief financial officer at Line 6.

AeroVironment, Inc. Introduces TurboDock

AeroVironment, Inc. introduced TurboDock™-a next-generation EV charging station for commercial and workplace settings that is controlled through a smartphone app. Out of the box, TurboDock charges at Level 1 (12 amps/120 volts), or at Level 2 (16 Amps/240 Volts), which will recharge EVs on a typical commute in less than four hours, making TurboDock ideal for commercial and workplace environments. TurboDock is packed with features specially designed to make it the ideal commercial and workplace charging solution. TurboDock can be configured easily to meet the specific needs and circumstances of each operator. For example, an administrator can give one universal access code to all of their EV-driving users, assign each user their own unique access code or choose open access for all users. TurboDock makes switching between open access and access control quick and simple. Benefits of using TurboDock in the workplace include enhanced employee productivity and satisfaction. When configured for 12 amp or 16 amp charging, TurboDock provides twice as many chargers with the same electrical service required for a 30 amp charging. More chargers mean increased productivity since TurboDock alleviates the need for EV-driving employees to move their vehicles during the workday so someone else can use the charger.

 

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Industry Analysis

AVAV

Industry Average

Valuation AVAV Industry Range
Price/Earnings 100.0x
Price/Sales 2.4x
Price/Book 1.8x
Price/Cash Flow 158.2x
TEV/Sales 1.7x
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