AeroVironment Slips To Q2 Loss

(RTTNews) - AeroVironment, Inc. (AVAV) reported a net loss for the second quarter of $2.9 million or $0.13 per share, compared to net income of $1.7 million or $0.07 per share for the year-ago quarter.

Revenue for the second quarter fell 19% to $52.7 million from $64.9 million a year ago, due to lower sales in the company's Unmanned Aircraft Systems segment.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.11 per share on revenue of $54.64 million for the second quarter.

For fiscal 2015, the company continues to expect to generate revenue of between $250 million and $270 million and gross profit margin of between 34.5% and 37.5% at the respective revenue levels. Analysts currently expect the company to post revenue of $258.55 million for the fiscal year 2015.

Planned increases in research and development and business development investments for Tactical Missile Systems, Commercial UAS and Global Observer business areas in fiscal 2015 may largely offset operating profit in the current fiscal year, the company noted.