AeroVironment Posts Lower Q4 Profit

(RTTNews) - Drone maker AeroVironment, Inc. (AVAV) reported net income for the fourth quarter of $7.1 million or $0.31 per share, compared to $8.1 million or $0.35 per share for the year-ago quarter.

Earnings per share for the fourth quarter of fiscal 2015 included a loss of $0.01 per share due to losses on the company's equity investment. Earnings per share for the fourth quarter of fiscal 2014 included an increase of $0.08 per share due to the increase in fair value of the conversion option of the company's convertible bond investment.

Revenue for the fourth quarter rose 18% to $86.47 million from $73.50 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.18 per share on revenue of $85.71 million for the fourth quarter.

Looking forward to fiscal 2016, the company forecasts revenue of $260 million to $280 million, and gross profit margin of 36% to 37.5%. Analysts currently expect the company to post revenue of $277.34 million for the fiscal year 2016.