AeroVironment (AVAV) Offers Additional Q1 Commentary; Sees Q2 GM in Low-30% Range
AeroVironment, Inc. (NASDAQ: AVAV) released first quarter fiscal 2017 financial results in a conference call, press release and SEC form 10Q filing on August 30, 2016.
AeroVironment President and Chief Executive Officer Wahid Nawabi said, “We continue to work toward achieving our stated full year guidance of $260 million to $280 million in revenue and $0.20 to $0.35 fully diluted earnings per share. Additionally, we expect revenue in the first half of the year to represent slightly less than one-third of full year revenue, and we anticipate full year research and development expense of 12 percent. Finally, we expect second quarter gross margin in the low 30 percent range and full year gross margin in the mid-30 percent range."
An audio recording of the company’s first quarter fiscal 2017 earnings conference call and press release can be accessed on the AeroVironment website at http://investor.avinc.com.