UPDATE: AeroVironment FQ2 Profit Surges 33%

AeroVironment

reported a 33% surge in its fiscal second-quarter profit. AeroVironment's quarterly profit rose to $8.7 million, or $0.39 per share, from $6.6 million, or $0.30 per share, in the year-ago period. Its revenue dropped 0.1% to $80.3 million. However, analysts were estimating a profit of $0.22 per share on revenue of $77 million. Its gross margin rose to 44.4% from 38.1% AeroVironment shares climbed 9.82% to $22.25 in after-hours trading.