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Shares of AeroVironment (AVAV -10%) take a hit after missing on its FQ1 earlier this morning....

Shares of AeroVironment (AVAV -10%) take a hit after missing on its FQ1 earlier this morning. Total revenue fell 5% Y/Y, as sales of its unmanned aircraft slipped. Gross margin narrowed to 33.2% from 35%, as R&D expenses rose 7.3% and its unmanned aircraft revenue shrank 6.5%. The company maintains its view on FY13 however, anticipating net income of $1.41 to $1.51 per share on revenue of $348M to $370M.
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