AeroVironment reports sales boost in FY-16

AeroVironment said today sales in the company's fiscal year 2016, which ended April 30, hit $264 million, up 2 percent from the prior year.

The company attributed the boost to an increase in sales in its unmanned aircraft systems unit.

Profit for the year was just shy of $9 million, up from the $2.9 million in profit the company reported the prior year.

Wahid Nawabi, AeroVironment's chief executive, said during a Tuesday call with analysts that the company's small UAS offerings continue to serve "as the main driver of our overall business."

He said the company had a record year in its international sales of small UAS. That work, he said, provides "significant future growth potential for the business."