AeroVironment Experiences Strong Revenue Growth

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Shares of AeroVironment, a leading defense contractor based in Arlington, VA, soared 14% to $108 during after-hours trading on Tuesday. This surge in stock price comes on the back of the company’s impressive revenue growth, driven by robust demand for its unmanned systems.

In the first quarter of the fiscal year, AeroVironment witnessed a remarkable 40% increase in revenue, amounting to a total of $152.3 million. This substantial growth is a testament to the company’s dedication to delivering innovative and reliable products to its customers.

The previous year’s loss of $8.4 million, or 34 cents per share, has now been transformed into a profit of $21.9 million, or 84 cents per share. This significant improvement underscores AeroVironment’s commitment to sustainable growth and operational excellence.

Furthermore, the company’s funded backlog has experienced substantial growth, with the figure now standing at $540 million, compared to $424 million in the prior quarter. This increase highlights the market’s confidence in AeroVironment’s capabilities and its position as a leader in the industry.

Buoyed by its stellar performance, AeroVironment has revised its full-year guidance upwards. The company now anticipates generating revenues ranging from $645 million to $675 million, surpassing its earlier projection of $630 million to $660 million. Additionally, the revised profit forecast for the year is between $51 million and $59 million, compared to the previous range of $50 million to $58 million.

With its unwavering focus on meeting customer demands and exceeding expectations, AeroVironment continues to solidify its position as a pioneering player in the defense industry.

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