AeroVironment, Inc. (AVAV-NASDAQ) reported financial results for the fiscal 2007 third quarter: Total revenue up 30% to $46.3 million; Income from operations up 111% to $13.2 million; Net income up 102% to $8.9 million, or up $0.28 per diluted share to $0.57.
As of JAN 27 it carried backlog of $43.2 million, compared to $79.7 million as of April 30, 2006, and $48.2 million as of January 28, 2006. As far as 2007 guidance it currently expects to achieve total fiscal year 2007 revenue growth of between 20% and 25% from fiscal year 2006 levels, with an operating income margin between 15% and 16%.
We are refraining from posting earnings estimates due to the fact that there are discrepancies because it is such a new company after its IPO in the second half of January. Shares had traded up to $24.00 but have slid to under $21.00 recently. It closed at $21.43, up $3%, today but we have not seen active trading in it after-hours. This appears solid, but tracking these newer post-IPO companies right after earnings is a bit of guesswork.
Jon C. Ogg
March 8, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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