AeroVironment, Inc. (AVAV - Free Report) reported third-quarter fiscal 2019 earnings per share (EPS) from continuing operations of 35 cents, beating the Zacks Consensus Estimate of 14 cents by 150%. Earnings also improved by 37 cents from the year-ago quarter’s net loss per share of 2 cents.
Operational Performance
Revenues of $75.3 million increased 38% on a year-over-year basis, driven by 26.8% improvement in product revenues to $50 million and improvement in service revenues of 66.6% to $25.3 million.
As of Jan 27, 2019, the company’s funded backlog was $132.5 million, up 17% year over year.
Gross margin for the third quarter of fiscal 2019 was 40%, up 700 basis points year over year.
Total operating expenses increased 24.7% to $22.55 million, thanks to 27.6% rise in selling, general and administrative expenses and 22.4% in research and development expenses.
Consequently, operating income for the first nine months of fiscal 2019 was $7.8 million, an increase from $0.2 million reported in the same period last year.
AeroVironment, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
AeroVironment, Inc. (AVAV - Free Report) reported third-quarter fiscal 2019 earnings per share (EPS) from continuing operations of 35 cents, beating the Zacks Consensus Estimate of 14 cents by 150%. Earnings also improved by 37 cents from the year-ago quarter’s net loss per share of 2 cents.
Operational Performance
Revenues of $75.3 million increased 38% on a year-over-year basis, driven by 26.8% improvement in product revenues to $50 million and improvement in service revenues of 66.6% to $25.3 million.
As of Jan 27, 2019, the company’s funded backlog was $132.5 million, up 17% year over year.
Gross margin for the third quarter of fiscal 2019 was 40%, up 700 basis points year over year.
Total operating expenses increased 24.7% to $22.55 million, thanks to 27.6% rise in selling, general and administrative expenses and 22.4% in research and development expenses.
Consequently, operating income for the first nine months of fiscal 2019 was $7.8 million, an increase from $0.2 million reported in the same period last year.
AeroVironment, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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