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AeroVironment, Inc. (AVAV)

  • Mon, Aug. 24, 12:00 PM
    • Since May 1, AeroVironment (AVAV -2.6%) has received ten orders worth a combined $47.1M from the U.S. Army. The orders cover AeroVironment's RQ-11B Raven and RQ-20A Puma AE drones.
    • AeroVironment notes the Raven, used for low-altitude surveillance/recon missions, is "the most widely-used UAS in the world." The Puma is a smaller drone used for land-based and maritime operations.
    • AeroVironment's UAS division revenue rose 13% Y/Y in FQ4 (the April quarter) to $78.7M. FQ1 results arrive after the close on Sep. 1. Shares are lower (albeit off their early-morning lows) amid a broad market selloff.
  • Mon, Jul. 13, 11:03 AM
    • AeroVironment (NASDAQ:AVAV) is up 3.6% following presentations on an analyst day that led to a positive update note from Canaccord Genuity's Bobby Burleson.
    • Canaccord has a Hold rating on the shares with a $30 price target. Shares closed yesterday at $27.16 and are trading currently at $28.14.
    • "We view long-term growth opportunities for both commercial drones and charging products as positive," Burleson notes, "however higher spending creates uncertainty around results looking into fiscal 2016 prompting us to maintain a HOLD rating."
    • The analyst day featured presentations on the company's unmanned aircraft systems and EV charging systems segments as well as flight demos and a facility tour.
    • Previously: AeroVironment names tech vet its new CFO (Jul. 07 2015)
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  • Wed, Jul. 1, 5:36 PM
  • Wed, Jul. 1, 12:49 PM
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  • Wed, Jul. 1, 10:06 AM
    • AeroVironment (AVAV +7.1%) is up in early trade after heavily beating profit and revenue expectations.
    • "We continue to deliver certainty and reliability to our customers and remain the leader in electric vehicle testing, charging systems and small unmanned aircraft systems," said CEO Tim Conver.
    • For fiscal 2016, the company expects to generate revenue of between $260M-$280M and a gross profit margin of between 36%-37.5%. Planned increases in R&D and SG&A for Commercial UAS in fiscal 2016 may largely offset operating profit in the current fiscal year.
    • FQ4 results
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  • Wed, Mar. 4, 2:27 PM
    • Up AH yesterday after missing FQ3 revenue estimates, beating EPS estimates, and reiterating FY15 guidance, AeroVironment (NASDAQ:AVAV) is now off sharply. Shares are less than $1 above a 52-week low of $24.73.
    • On the CC (transcript), CEO Tim Conver stated AeroVironment doesn't expect a decision regarding a Phase III contract  for DARPA's TERN program until FY16; AeroVironment won a $19M Phase II TERN contract for a maritime UAV system last October.
    • A couple of analysts quizzed the company in the Q&A about R&D spending, which is currently behind plan. Conver: "We're trying to play catch up in Q4."
    • SA author AtonRa Partners likes the FQ3 numbers, albeit while cautioning FY16 "could be another transition year with limited revenue momentum and still high R&D investments pressuring earnings," given major new projects aren't expected to contribute meaningfully in the near-term. "[W]e are confident AeroVironment will build a leading position over the years in commercial drones. But admittedly, the short term is likely to remain unexciting."
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  • Nov. 26, 2014, 12:49 PM
  • Nov. 25, 2014, 5:42 PM
    • Top gainers, as of 5:15 p.m.: PHMD +13.2%. VEEV +8.9%. BLOX +7.6%. CPE +3.8%. ANGI +2.7%.
    • Top losers, as of 5:15 p.m.: VNET -14.5%. IQNT -4.6%. SNC -4.4%. UCI -3.3%. AVAV -3.2%.
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  • Nov. 25, 2014, 5:37 PM
    • AeroVironment (NASDAQ:AVAV) still expects FY15 (ends April '15) revenue of $250M-$270M (in-line with a $258.6M consensus) and gross margin of 34.5%-37.5%.
    • Funded backlog totaled $125.2M at the end of FQ2, up from $82M at the end of FQ1 but down from $133.8M a year earlier.
    • UAV division revenue fell 23% Y/Y to $43M; EV charging division revenue rose 9% to $9.6M.
    • Gross margin fell to 34% from 37%. GAAP SG&A spend rose 3% Y/Y to $13.5M; R&D spend rose 24% to $8.5M.
    • FQ2 results, PR
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  • Sep. 3, 2014, 5:35 PM
    • Top gainers, as of 5:15 p.m.: TIBX +7.9%. BV +5.3%. PVH +5.1%. IO +3.5%. MHGC +3.1%.
    • Top losers, as of 5:15 p.m.: MTRX -15.9%. SCVL -7.9%. AVAV -5.9%. SONC -3.8%. YUM -3.5%.
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  • Sep. 3, 2014, 5:20 PM
    • AeroVironment (NASDAQ:AVAV) is reiterating guidance for FY15 (ends April '15) revenue of $250M-$270M; consensus is at $258.3M. Gross margin guidance of 34.5%-37.5% is also affirmed.
    • In spite of 18% Y/Y revenue growth, gross margin fell 110 bps in FQ1 to 27.2%, pressuring EPS. AeroVironment says a contract termination cost settlement and higher service contract costs took a toll.
    • Funded backlog totaled $82M at the end of FQ1, up from $65.9M at the end of FQ4 and $76.9M a year ago.
    • FQ1 UAV division sales +17% Y/Y to $41.2M; EV charging system division sales +20% to $10.7M. GAAP SG&A spend +7% Y/Y to $13.4M; R&D spend -1% to $7.1M.
    • FQ1 results, PR
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  • Jul. 9, 2014, 12:47 PM
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  • Jul. 8, 2014, 5:36 PM
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  • Jul. 8, 2014, 4:50 PM
    • 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
    | 1 Comment
  • Jul. 8, 2014, 4:32 PM
    • AeroVironment (AVAV): Q4 EPS of $0.27 beats by $0.04.
    • Revenue of $73.5M (+35.8% Y/Y) beats by $3.88M.
    • Shares +6.36% AH.
    • Press Release
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  • May 9, 2014, 5:57 PM
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Company Description
AeroVironment Inc is engaged in the design, develop, produce, support and operate a technological portfolio of products and services. It supplies unmanned aircraft systems, UAS, tactical missile systems and related services within the US DoD.