AeroVironment reports sales boost

AeroVironment this week said sales in its most recent quarter reached $44 million, up 21 percent from the same three-month period a year earlier.

The company reported a quarterly loss of $4.4 million, far less than the $11.6 million loss reported last year.

AeroVironment said its unmanned aircraft systems segment was the primary driver of its increased sales.

Wahid Nawabi, AeroVironment's chief executive, told analysts during a call this week the company is watching the budget, but that AeroVironment's revenue is not heavily dependent on budget line items. Much of the company's funding comes from urgent needs statements and from international customers, he said.