ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — AeroVironment Inc. (AVAV) on Wednesday reported fiscal fourth-quarter net income of $6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Arlington, Virginia-based company said it had profit of 22 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 43 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The maker of unmanned aircrafts posted revenue of $197 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $187.8 million.
For the year, the company reported net income of $59.7 million, or $2.18 per share, swinging to a profit in the period. Revenue was reported as $716.7 million.
AeroVironment expects full-year earnings in the range of $3.18 to $3.49 per share, with revenue in the range of $790 million to $820 million.
AeroVironment shares have risen 53% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $192.81, more than doubling 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
