AeroVironment (AVAV) Falls Short of The Q4 View By 6c; Lowered Guidance

March 9, 2009 4:09 PM EDT

AeroVironment, Inc. (Nasdaq: AVAV) reports Q4 EPS of $0.21, 6 cents better than the analyst estimate of $0.27. Revenues for the quarter were $52.2 million, versus the consensus of $65.32 million.

For fiscal year 2009, AeroVironment is revising its guidance to reflect anticipated full year revenue growth of between 11% and 16% over fiscal year 2008. The Company maintains its previous guidance with respect to operating margin of between 12% and 14%.

"Full year guidance is now lower than the 20% to 25% annual revenue growth guidance for the year that we reiterated last quarter," said Tim Conver. "Given the current economic environment, the fact that we have record backlog and continue to generate cash, with $131 million in cash, cash equivalents and investments on our balance sheet, serves us well. In building for the future we made great progress on key development programs including Digital Data Link, Global Observer and Switchblade. Our team is performing well, our solutions are making an important difference to our customers, and we remain well-positioned for future growth."

Subscribe to EasyStockAlerts.com & Get real-time e-mail alerts when news hits your stocks!

Related Categories

Corporate News
Earnings
Guidance
Hot List

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?