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AeroVironment, Inc. Announces Fiscal 2019 Third Quarter Results

AeroVironment,
Inc. (NASDAQ: AVAV) today reported financial results for its third
quarter ended January 26, 2019.





Revenue of $75.3 million, up 38 percent year-over-year






Gross margin of 40 percent, up 7 percentage points year-over-year






Earnings per diluted share from continuing operations of $0.35, up
$0.37 from one year ago






Increased full year expectations for diluted earnings per share from
continuing operations to between $1.60 and $1.80, including a one-time
gain of $0.26 from a litigation settlement





"Our team delivered outstanding financial results in our third fiscal
quarter, including $75.3 million in revenue and $0.35 in diluted
earnings per share from continuing operations, representing
year-over-year increases of 38 percent and $0.37, respectively,a?? said
Wahid Nawabi, Aerovironment president and chief executive officer. "We
continue to make strong progress against our financial and operational
objectives and have established a strong foundation for fiscal year
2020.a??


Mr. Nawabi continued, "We also continue to advance our growth portfolio,
including exercising the one-time option to increase our ownership of
the HAPSMobile, Inc. joint venture from 5 percent to 10 percent.
AeroVironment has a strong track record of transforming high-potential
innovations and technologies into significant value, and we are excited
about realizing the full potential of HAPSMobile and our other growth
initiatives.a??
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