Advertisement
Canada markets open in 9 hours 13 minutes

  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CAD/USD

    0.7305
    +0.0007 (+0.09%)
     

  • CRUDE OIL

    82.91
    +0.10 (+0.12%)
     

  • Bitcoin CAD

    87,763.22
    -3,563.84 (-3.90%)
     

  • CMC Crypto 200

    1,389.11
    -34.99 (-2.46%)
     

  • GOLD FUTURES

    2,326.10
    -12.30 (-0.53%)
     

  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • NASDAQ futures

    17,460.25
    -204.25 (-1.16%)
     

  • VOLATILITY

    15.97
    +0.28 (+1.78%)
     

  • FTSE

    8,040.38
    -4.43 (-0.06%)
     

  • NIKKEI 225

    37,692.67
    -767.41 (-2.00%)
     

  • CAD/EUR

    0.6818
    -0.0001 (-0.01%)
     

Free Research Report as AeroVironment Reported Better Than Expected Results

ACCESSWIRE

LONDON, UK / ACCESSWIRE / July 13, 2018 / If you want access to our free earnings report on AeroVironment, Inc. (AVAV), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AVAV. The Company reported its fourth quarter fiscal 2018 and full fiscal year 2018 operating and financial results on June 26, 2018. The maker of unmanned aircrafts provided its guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, AeroVironment most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=AVAV

ADVERTISEMENT

Earnings Highlights and Summary

For the fourth quarter of the fiscal year 2018, AeroVironment's revenues were $117.4 million, up 1% compared to $115.7 million in Q4 FY17, driven by an increase in service revenues of $15.6 million, partially offset by a decrease in product sales of $13.9 million. The Company's revenue numbers beat analysts' estimates of $113.2 million.

For the full fiscal year 2018, AeroVironment's revenues advanced 18% to $271.1 million compared to $228.9 million in FY17. The increase in revenues resulted from an increase in product sales of $35.7 million, and an increase in service revenues of $6.4 million.

During Q4 FY18, AeroVironment's gross margin was $52.2 million, down 9% from $57.4 million in Q4 FY17, primarily due to a decrease in product margin of $9.9 million. As a percentage of revenues, the Company's gross margin decreased to 44% from 50% in the year earlier same quarter, primarily due to a decrease in the proportion of product sales to total revenues.

AeroVironment's income from continuing operations decreased to $29.5 million in Q4 FY18 from $36.3 million in Q4 FY17, primarily as a result of a decrease in gross margin of $5.2 million; an increase in selling, general, and administrative expenses (SG&A) of $0.9 million; and an increase in research and development (R&D) expenses of $0.7 million.

AeroVironment's provision for income taxes was $9.2 million in Q4 FY18 compared to $8.8 million in Q4 FY17, and included the impact of the Tax Cut and Jobs Act 2017 (TCJA).

AeroVironment's net income attributable to common shareholders was $18.3 million, or $0.85 per diluted share, in Q4 FY18 compared to $30.5 million, or $1.21 per diluted share, in Q4 FY17. The Company's earnings surpassed Wall Street's estimates of $0.52 per share.

For FY18, AeroVironment's net income attributable to common shareholders was $20.1 million, or $0.95 per diluted share, compared to $12.5 million, or $0.72 per diluted share, in FY17.

Cash Matters

AeroVironment's cash equivalents and investments totaled $297.8 million at the end of Q4 FY18, which represents an increase of $55.9 million from the $242 million reported at the end of FY17. The Company's net accounts receivable, including unbilled receivables and retention from continuing operations, totaled $69.9 million at the end of the reported quarter, down $13 million on a y-o-y basis.

AeroVironment's net inventory from continuing operations was $38.6 million at the end of Q4 FY18 compared to $40.9 million at the end of Q4 FY17. The Company's days in inventory outstanding from continuing operations was approximately 90 days in FY18. During FY18, AeroVironment invested approximately $9.6 million in property improvements and capital equipment for continuing operations and recognized $6 million of depreciation and amortization expenses.

Backlog

As of April 30, 2018, AeroVironment's funded backlog was $174.3 million compared to $70.9 million as of April 30, 2017.

Outlook

For the full fiscal year 2019, AeroVironment is forecasting its continuing operations to generate revenues of between $290 million and $310 million, and diluted earnings per share of between $1.10 and $1.40, at a 5% ownership of the HAPSMobile, Inc. joint venture.

Stock Performance Snapshot

July 12, 2018 - At Thursday's closing bell, AeroVironment's stock advanced 1.42%, ending the trading session at $73.10.

Volume traded for the day: 275.17 thousand shares.

Stock performance in the last month - up 24.43%; previous three-month period - up 31.10%; past twelve-month period - up 83.99%; and year-to-date - up 30.16%

After yesterday's close, AeroVironment's market cap was at $1.70 billion.

Price to Earnings (P/E) ratio was at 67.44.

The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry. This sector was up 1.1% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsoredand non-sponsored reports, articles, stock market blogs, and popular investmentnewsletters covering equities listed on NYSE and NASDAQ and Canadian stocks.A-I has two distinct and independent departments. One department producesnon-sponsored analyst certified content generally in the form of pressreleases, articles and reports covering equities listed on NYSE and NASDAQ andthe other produces sponsored content (in most cases not reviewed by aregistered analyst), which typically consists of compensated investmentnewsletters, articles and reports covering listed stocks and micro-caps. Suchsponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly orindirectly; for producing or publishing this document.

PRESS RELEASEPROCEDURES:

The non-sponsored content contained herein has beenprepared by a writer (the "Author") and is fact checked and reviewedby a third-party research service company (the "Reviewer")represented by a credentialed financial analyst [for further information onanalyst credentials, please email info@active-investors.com.Rohit Tuli, a CFA® charterholder (the"Sponsor"), provides necessary guidance in preparing the documenttemplates. The Reviewer has reviewed and revised the content, as necessary,based on publicly available information which is believed to be reliable.Content is researched, written and reviewed on a reasonable-effort basis. TheReviewer has not performed any independent investigations or forensic audits tovalidate the information herein. The Reviewer has only independently reviewedthe information provided by the Author according to the procedures outlined byA-I. A-I is not entitled to veto or interfere in the application of suchprocedures by the third-party research service company to the articles,documents or reports, as the case may be. Unless otherwise noted, any contentoutside of this document has no association with the Author or the Reviewer inany way.

NO WARRANTY

A-I, the Author, and the Reviewer are notresponsible for any error which may be occasioned at the time of printing ofthis document or any error, mistake or shortcoming. No liability is acceptedwhatsoever for any direct, indirect or consequential loss arising from the useof this document. A-I, the Author, and the Reviewer expressly disclaim anyfiduciary responsibility or liability for any consequences, financial orotherwise arising from any reliance placed on the information in this document.Additionally, A-I, the Author, and the Reviewer do not (1) guarantee theaccuracy, timeliness, completeness or correct sequencing of the information, or(2) warrant any results from use of the information. The included informationis subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering,recommendation, or a solicitation of an offer to buy or sell the securitiesmentioned or discussed, and is to be used for informational purposes only.Please read all associated disclosures and disclaimers in full beforeinvesting. Neither A-I nor any party affiliated with us is a registeredinvestment adviser or broker-dealer with any agency or in any jurisdictionwhatsoever. To download our report(s), read our disclosures, or for moreinformation, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach outto us directly. If you're a company we are covering andwish to no longer feature on our coverage list contact us via email and/orphone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
OfficeAddress: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, WilayahPersekutuan Kuala Lumpur, Malaysia

SOURCE:Active-Investors