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AeroVironment

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).

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About Aerovironment:

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 military.
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.



 


 

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