AeroVironment, Inc. Surges Higher in the After-Hours

Shares of AeroVironment, Inc.

are shooting higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares up by 10.07%, at $31.49; they closed the regular session lower by 0.03%, at $28.61. AeroVironment, Inc. reported Q4 EPS of $0.79 on revenues of $106.1 million; the Street was looking for $0.68 per share on revenues of $99 million. Revenues increased 6.7% year over year. AeroVironment, Inc. said it sees FY2012 EPS in the range of $1.28-1.35 on revenues of $321-336 million. "With record fourth quarter revenue of $106.1 million, fiscal 2011 revenue grew 17% to $292.5 million, exceeding our guidance, and diluted earnings per share increased 24% to $1.17," said Tim Conver, AeroVironment chairman and chief executive officer. "Electric vehicle charging solutions and digital Puma unmanned aircraft systems successfully transitioned from development to production programs with attractive long-term growth prospects, while other innovative developments progressed toward customer adoption. The effective performance of our team, the successful transition of great ideas to meaningful market adoption with first mover advantage and the strong demand for our solutions continue to position us well for long-term growth." AeroVironment, Inc. designs, develops, produces and supports a portfolio of unmanned aircraft systems, supplied to organizations within the United States Department of Defense, charging systems for electric vehicle batteries and power cycling and test systems supplied to commercial and government customers.