{"id":76383,"date":"2020-07-17T15:27:52","date_gmt":"2020-07-17T19:27:52","guid":{"rendered":"https:\/\/dronelife.com\/?p=76383"},"modified":"2020-07-17T15:27:52","modified_gmt":"2020-07-17T19:27:52","slug":"aerovironment-financials-flying-high-in-the-drone-world","status":"publish","type":"post","link":"https:\/\/dronelife.com\/2020\/07\/17\/aerovironment-financials-flying-high-in-the-drone-world\/","title":{"rendered":"AeroVironment Financials Flying High in the Drone World"},"content":{"rendered":"

\"AeroVironmentWhile many companies are plummeting amid the pandemic crisis, drone systems provider AeroVironment<\/a> is soaring higher.<\/p>\n

The California-based company recently released financials for both the full year and fourth quarter ending April.<\/p>\n

Results<\/h3>\n

Record fourth quarter and full year revenue of $135.2 million and $367.3 million — an increase of 54 percent and 17 percent year-over-year, respectively.<\/p>\n

Fourth quarter diluted earnings per share from continuing operations and non-GAAP diluted earnings per share from continuing operations of $0.73 and $0.75, an increase of 47 cents and 49 cents year-over-year, respectively.<\/p>\n

Record funded backlog of $208.1 million.<\/p>\n

Gross margin Q4, fiscal 2020 — $53.2 million, an increase of 44 percent from the fourth quarter of fiscal 2019\u2019s gross margin of $37.0 million.<\/p>\n

Income from continuing operations for the fourth quarter of fiscal 2020 — $21.3 million, an increase of $16.2 million from the fourth quarter of fiscal 2019 income from continuing operations of $5.1 million.<\/p>\n

\u2018Topline Growth\u2019<\/h3>\n

\u201cOur team delivered outstanding results in our fourth quarter and full fiscal year 2020,\u201d AeroVironment CEO Wahid Nawabi said in a press release.<\/p>\n

He added:<\/p>\n

\u201cWith continued focus on our business strategy, coupled with excellent execution by our committed and talented team, we delivered our third consecutive year of profitable, double-digit topline growth. Strong growth in small unmanned aircraft systems revenue reflects continued global demand for our market leading [drone] solutions, while significant progress in tactical missile systems and HAPS advances our strategy for long-term value creation.\u201d<\/p>\n

Outlook<\/h3>\n

According to AeroVironment\u2019s report, further growth is expected next year:<\/p>\n

\u201cFor fiscal 2021, the Company expects to generate revenue between $390 million and $410 million, operating margin of between 12 percent and 12.5 percent, and earnings per diluted share of $1.65 to $1.85. The Company expects non-GAAP earnings per diluted share, which excludes amortization of acquired intangible assets, to be between $1.74 and $1.94.\u201d<\/p>\n

Milestones<\/h3>\n