March 8, 2007: AeroVironment
generated revenue to 46.3 million level in the recent quarter,
with net income of 8.9 million, a growth of 30% in revenue and
102 % in profit. For the entire year, the company expects to
increase its revenue by 20 to 25%, compared to 2006 maintaining
an operating margin of 15% - 16%. This growth was anticipated
with the fulfillment of part of the company's backlog, which
reduced disproportionally to 43.2 million, slightly lower than
its January 2006 level and about half of the April 2006 level.
The company raised $80 million in a recent public offering
in January 2007. The highest growth was achieved in the company's
dominant unmanned aerial vehicles sector which increased sales
by $15 millions over the last three quarters, ($10 million in
the last quarter alone).
Aero Vironment (AV) defense related activity focuses on the
development, production and support of mini-unmanned aerial
vehicles (Mini-UAVs). Two of the systems are deployed in large
numbers with the US Army (Raven) and Marines (DragonEye). The
wasp micro- UAV developed under DARPA program is currently in
advanced testing at the US Special Operations Command and the
The company is also developing advanced mini-UAV systems, including
the Puma and Swift, which represent more advanced systems, compared
to the company's operational mini UAVs. AV focused its operations
inside the USA but has recently expanded its offerings overseas.
The recent conclusion of sea trials of a naval version of teh
Puma is reflecting this effort.