AeroVironment Reports In-Line Earnings and Guidance

Shares of AeroVironment (NASDAQ: AVAV) are trading lower in the after-hours following the release of the company's Q1 earnings results. Currently, shares are lower by 0.03%, trading at $29.98; they ended the regular session higher by 6.20%, at $29.99. AeroVironment reported Q1 EPS of $0.01 on revenues of $62 million; the Street was looking for $0.01 per share on revenues of $61.8 million. Revenues increased 62.3% year over year. The company sees FY2012 EPS in the range of $1.28-1.35 on revenues of $321-336 million; the Street was at $1.29 per share on revenues of $326.60 million. "First quarter revenue of $62.0 million rose by 62% over last year, and diluted earnings per share of $0.01 increased from a loss of $0.16. Reflecting continued demand for our small unmanned aircraft systems, the $65.5 million contract for Puma systems we announced in August provides us with more visibility into full year revenue than at the same point in previous years," said Tim Conver, AeroVironment chairman and chief executive officer. "Similar demand in our efficient energy systems segment drove shipments and the capture of new contracts across all product lines." AeroVironment, Inc. designs, develops, produces and supports a portfolio of products and services. The company operates in two segments: Unmanned Aircraft Systems (UAS) and Efficient Energy Systems (EES).