AeroVironment Profit Tops Estimate, Outlook Strong; Stock Up - Update

(RTTNews) - Unmanned aircraft systems and electric transportation solutions provider AeroVironment Inc (AVAV), Tuesday reported a swing to profit in the fourth quarter, led by strong growth in revenue, with results topping Wall Street estimates.

The company detailed a strong outlook for 2015, encouraged by positive market trends. Shares of AeroVironment were up 5 percent in after-hours trade on the Nasdaq.

Monrovia, California-based AeroVironment posted fourth-quarter net earnings of $8 million or $0.35 per share, compared with a loss of $0.8 million or $0.04 per share last year.

Excluding items, adjusted earnings for the quarter were $0.27 per share. On average, 11 analysts polled by Thomson Reuters expected earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

AeroVironment posted revenue of $73.5 million, up 36 percent from $54 million a year ago. Analysts expected revenue of $69.6 million for the quarter.

For fiscal 2015, AeroVironment projects revenue of $250 million to $270 million, while analysts currently expect $256.2 million.

AVAV closed Tuesday at $30.96, down $0.58 or 1.84%, on a volume of 340k shares. In after hours, the stock gained $1.54 or 4.97%.