AeroVironment (AVAV) expects FY15 (ends April '15) revenue of $250M-$270M; the midpoint is favorable to a $256.2M consensus.
Gross margin is forecast to be in a range of 34.5%-37.5% vs. 37.2% in FY14, and the company says planned R&D and business development spending hikes in support of various programs "may largely offset operating profit."
Funded backlog totaled $65.9M at the end of FQ4, down from $95.5M at the end of FQ3 (seasonality played a role) but up from $59.4M a year earlier.
UAV division sales +41% Y/Y to $60M vs. 53% growth in FQ3. EV charging system division sales +15% to $13.5M vs. +24% in FQ3. Product sales +47% to $33.2M, contract services -27% to $10.1M.
SG&A spend rose 19% to $17M, while R&D spend fell 34% to $6.2M.
The company thinks it now has "greater visibility into the timing of meaningful adoption" for its Tactical Missile System, commercial UAV, and Global Observer programs.
FQ4 results, PR