UPDATE: AeroVironment (AVAV) Tops Q4 EPS by 27c, FY18 Guidance Beats but Q1 Light
AeroVironment (NASDAQ: AVAV) reported Q4 EPS of $1.30, $0.27 better than the analyst estimate of $1.03. Revenue for the quarter came in at $125.4 million versus the consensus estimate of $122.9 million.
“Through the successful execution of our strategic plan, AeroVironment achieved record performance in our fourth quarter, with revenue of $125 million and fully diluted earnings per share of $1.30,” said Wahid Nawabi, AeroVironment president and chief executive officer. “International demand for our Family of small unmanned aircraft systems and domestic demand for our Family of Tactical Missile Systems drove full year revenue to $264.9 million, within our guidance range, and fully diluted earnings per share to $0.54, significantly above guidance and 38 percent higher than last year. Our team executed our fiscal 2017 plan effectively, growing year-end funded backlog by 19 percent over the previous year to $78 million, while creating value for our customers, employees and stockholders and positioning AeroVironment for long-term growth.”
BACKLOG
As of April 30, 2017, funded backlog (unfilled firm orders for which funding is currently appropriated to us under a customer contract) was $78.0 million compared to $65.8 million as of April 30, 2016.
GUIDANCE:
For fiscal 2018, the company expects to generate revenue of between $280 million and $300 million, and earnings per diluted share of between $0.45 and $0.65.
For the first quarter of fiscal 2018, the company expects to generate revenue of between $40 million and $44 million, and loss per diluted share of between $0.32 and $0.40.
(Street sees Q1 EPS of ($0.14) on revenue of $49.1 and FY EPS of $0.51 on revenue of $287.8 million)
For earnings history and earnings-related data on AeroVironment (AVAV) click here.