ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — AeroVironment Inc. (AVAV) on Tuesday reported a loss of $156.6 million in its fiscal third quarter.
The Arlington, Virginia-based company said it had a loss of $3.15 per share. Earnings, adjusted for asset impairment costs and amortization costs, were 64 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The maker of unmanned aircrafts posted revenue of $408 million in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $473 million.
AeroVironment expects full-year earnings in the range of $2.75 to $3.10 per share, with revenue in the range of $1.85 billion to $1.95 billion.
AeroVironment shares have declined slightly more than 8% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $221.57, a climb of 80% 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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