ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — AeroVironment Inc. (AVAV) on Wednesday reported fiscal first-quarter earnings of $21.2 million.
The Arlington, Virginia-based company said it had net income of 75 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to 89 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The maker of unmanned aircrafts posted revenue of $189.5 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $184.3 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 climbed 54% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $194.21, 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
