ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — AeroVironment Inc. (AVAV) on Tuesday reported fiscal fourth-quarter net income of $16.7 million.
On a per-share basis, the Arlington, Virginia-based company said it had profit of 59 cents. Earnings, adjusted for one-time gains and costs, were $1.61 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The maker of unmanned aircrafts posted revenue of $275.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $243.7 million.
For the year, the company reported profit of $43.6 million, or $1.55 per share. Revenue was reported as $820.6 million.
AeroVironment expects full-year earnings in the range of $2.80 to $3 per share, with revenue in the range of $1.9 billion to $2 billion.
AeroVironment shares have increased 26% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $193.73, a rise of roughly 2% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVAV at https://www.zacks.com/ap/AVAV
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