AeroVironment, Inc. Issues Statement
November 09 2017 - 9:10AM
Business Wire
AeroVironment, Inc. (NASDAQ: AVAV) today issued the following
statement:
“Our strong and profitable core business
maintains a leading position in domestic and international markets,
which have been growing over the past several years. As a result of
strategic investments we have been making, our growth portfolio
includes multiple pioneering initiatives advancing toward very
large markets, with the potential to significantly expand our
business -- including through new adoption opportunities within our
core United States Department of Defense small unmanned aircraft
systems business.
Given the Company’s strong performance, along
with increased visibility, on our August 29 earnings call we
announced our expectation that we would generate revenue of between
$280 million and $300 million in fiscal year 2018, with additional
opportunities to drive significant value creation in the years
ahead. We are committed to executing a proven strategy and making
continued progress on our long term growth initiatives to deliver
results and create value for shareholders, customers and
employees.”
About AeroVironment
AeroVironment (NASDAQ: AVAV) provides customers with more
actionable intelligence so they can proceed with certainty. Based
in California, AeroVironment is a global 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; the impact of potential
security and cyber threats; 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; uncertainty in the customer adoption rate
of commercial use unmanned aircraft systems and electric vehicles;
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.
For additional media and information, please follow us at:
Facebook: http://www.facebook.com/aerovironmentincTwitter:
http://www.twitter.com/aerovironmentLinkedIn:
https://www.linkedin.com/company/aerovironmentYouTube:
http://www.youtube.com/user/AeroVironmentIncGoogle+:
https://plus.google.com/100557642515390130818/posts
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version on businesswire.com: http://www.businesswire.com/news/home/20171109005796/en/
Investors and MediaAeroVironment, Inc.Steven Gitlin+1 (626)
357-9983ir@avinc.com
AeroVironment (NASDAQ:AVAV)
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