AeroVironment, Inc. Summarizes Key First Quarter Fiscal 2017 Earnings Messages
August 31 2016 - 9:10AM
Business Wire
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.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides customers with more
actionable intelligence so they can proceed with certainty. Based
in California, AeroVironment is a recognized leader in unmanned
aircraft systems, tactical missile systems and electric vehicle
charging and test systems, and serves militaries, government
agencies, businesses and consumers. For more information visit
www.avinc.com.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” as that
term is defined in the Private Securities Litigation Reform Act of
1995. Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate or imply future
results, performance or achievements, and may contain words such as
“believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,”
“plan,” or words or phrases with similar meaning. Forward-looking
statements are based on current expectations, forecasts and
assumptions that involve risks and uncertainties, including, but
not limited to, economic, competitive, governmental and
technological factors outside of our control, that may cause our
business, strategy or actual results to differ materially from the
forward-looking statements. Factors that could cause actual results
to differ materially from the forward-looking statements include,
but are not limited to, reliance on sales to the U.S. government;
availability of U.S. government funding for defense procurement and
R&D programs; changes in the timing and/or amount of government
spending; risks related to our international business, including
compliance with export control laws; potential need for changes in
our long-term strategy in response to future developments;
unexpected technical and marketing difficulties inherent in major
research and product development efforts; changes in the supply
and/or demand and/or prices for our products and services; the
activities of competitors and increased competition; failure of the
markets in which we operate to grow; failure to remain a market
innovator and create new market opportunities; changes in
significant operating expenses, including components and raw
materials; failure to develop new products; the extensive
regulatory requirements governing our contracts with the U.S.
government; product liability, infringement and other claims;
changes in the regulatory environment; and general economic and
business conditions in the United States and elsewhere in the
world. For a further list and description of such risks and
uncertainties, see the reports we file with the Securities and
Exchange Commission. We do not intend, and undertake no obligation,
to update any forward-looking statements, whether as a result of
new information, future events or otherwise.
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AeroVironment, Inc.Steven Gitlin+1 (626)
357-9983ir@avinc.com
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