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Wednesday, Dec 5
2012, 11:37 AM
After closing near its 52-week low yesterday, AeroVironment (AVAV +15.9%) is up strongly in...
After closing near its 52-week low yesterday, AeroVironment (AVAV +15.9%) is up strongly in response to a solid FQ2 beat, which it attributed to a favorable mix and cost savings in addition to strong demand. FY13 guidance is for revenue of $348M-$370M and EPS of $1.41-$1.51, in-line with a consensus of $353.6M and $1.44 and calming investors worried about order push-outs. During the earnings call, management talked up the potential use of AeroVironment's unmanned aircraft in non-military applications, and noted the FAA is developing the necessary rules.