Net income remained flat in the fourth quarter when compared to a year ago for unmanned aircraft and electric charging station manufacturer AeroVironment Inc.
The Monrovia-based company reported net income of $17.8 million, or $0.80 per diluted share, on revenue $110.7 million for the quarter ending April 30. For the same period in the prior year, Aerovironment reported net income of $17.6 million, or $0.79 per diluted share, on revenue of $106 million.
AeroVironment receives nearly all its revenue from sales of its unmanned aircraft systems for the U.S. and other military forces. The company develops, manufactures and tests the aircraft in Simi Valley.
In the fourth quarter, AeroVironment had $97.3 million in sales from unmanned aircraft as compared to $13.3 million from the sales of electric charging stations.
For the full 2012 fiscal year, AeroVironment reported net income of $30.4 million, or $1.36 per diluted share, on revenue of $325 million. In the prior fiscal year, the company reported net income of $25.9 million, or $1.17 per diluted share, on revenue of $292.5 million.
Revenue guidance for the 2013 fiscal year is in the range of $348 million to $370 million.
Shares in AeroVironment closed down at $25.44.
Mark R. Madler