ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — AeroVironment Inc. (AVAV) on Monday reported fiscal fourth-quarter profit of $63.2 million.
On a per-share basis, the Arlington, Virginia-based company said it had profit of $1.25. Earnings, adjusted for one-time gains and costs, were $1.84 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The maker of unmanned aircrafts posted revenue of $641.6 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $563.1 million.
For the year, the company reported a loss of $265.1 million, or $5.40 per share, swinging to a loss in the period. Revenue was reported as $1.98 billion.
AeroVironment expects full-year earnings in the range of $3.02 to $3.34 per share, with revenue in the range of $2.13 billion to $2.23 billion.
AeroVironment shares have dropped 43% since the beginning of the year. In the final minutes of trading on Monday, shares hit $139, a decrease of 50% 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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