AeroVironment said both sales and profit grew during its most recent quarter.
The company reported quarterly sales of $135 million, up 54% from the same three-month period a year earlier. The bulk of the growth came from improved product sales.
AeroVironment said quarterly profit totaled $17.5 million, more than triple the quarterly profit produced the prior year.
For the year, AeroVironment said its sales hit $367 million, up 17% from its fiscal year 2019 sales. The company reported an additional $45 million in product sales.
Profit for the year totaled $41.1 million, down about 13% from FY-19. The company said its FY-19 profit had been buoyed by a one-time gain from a litigation settlement.