AeroVironment reports increased sales, profit

By Marjorie Censer / June 24, 2020 at 11:11 AM

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.

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