Recent pinpoint stock value: AeroVironment, Inc. (NASDAQ: AVAV)

On 30 March 2020, AeroVironment, Inc. (NASDAQ: AVAV) spotted trading -17.28% off 52-week high price. On the other end, the stock has been noted 33.64% away from the low price over the last 52-weeks. The stock changed 8.77% to recent value of $60.14. The stock transacted 460072 shares during most recent day however it has an average volume of 279.46K shares. The company has 25.19M of outstanding shares and 21.89M shares were floated in the market.

AeroVironment, Inc. (AVAV) recently stated financial results for its third quarter ended January 25, 2020.

Increased full year expectations for diluted earnings per share by $0.20 to between $1.55 and $1.75, and non-GAAP diluted earnings per share to between $1.67 and $1.87

Fiscal year-to-date revenue of $232M, up 3 percent year-over-year

Funded backlog of $126.0M

FISCAL 2020 THIRD QUARTER RESULTS

Revenue for the third quarter of fiscal 2020 was $61.9M, a decrease of 18% from third quarter fiscal 2019 revenue of $75.3M. The decrease in revenue was primarily Because of a decrease in product sales of $13.6M.

Gross margin for the third quarter of fiscal 2020 was $23.5M, a decrease of 23% from third quarter fiscal 2019 gross margin of $30.4M. The decrease in gross margin was primarily Because of a decrease in product margin of $7.8M, partially offset by a raise in service margin of $1.0M. As a percentage of revenue, gross margin reduced to 38% from 40%. The decrease in gross margin percentage was primarily Because of a raise in intangible asset amortization expense associated with our acquisition of Pulse Aerospace in June 2019 and a decrease in product revenue.

(Loss) income from continuing operations for the third quarter of fiscal 2020 was a loss of $1.1M, a decrease of 114% from third quarter fiscal 2019 income from continuing operations of $7.8M. The decrease in income from continuing operations was primarily a result of a decrease in gross margin of $6.9M and a raise in research and development expense (“R&D”) of $3.3M, partially offset by a decrease in selling, general and administrative (“SG&A”) expense of $1.2M.

Other income, net for the third quarter of fiscal 2020 was $1.2M contrast to $2.2M for the third quarter of fiscal 2019. The decrease in other income, net was primarily Because of a decrease in transition services performed on behalf of the buyer of the discontinued Efficient Energy Systems (“EES”) business.

(Benefit from) provision for income taxes for the third quarter of fiscal 2020 was a benefit of $38 thousand contrast to a provision for income taxes of $0.9M for the third quarter of fiscal 2019. The decrease in provision for income taxes was primarily Because of a decrease in income before income taxes.

Equity method investment loss, net of tax for the third quarter of fiscal 2020 was $1.2M contrast to $0.7M for the third quarter of fiscal 2019. The equity method loss is associated with our investment in the HAPSMobile Inc. joint venture formed in December 2017.

Net (loss) income attributable to AeroVironment for the third quarter of fiscal 2020 was a loss of $1.0M, a decrease from third quarter fiscal 2019 net income attributable to AeroVironment of $8.4M.

Loss per diluted share from continuing operations attributable to AeroVironment for the third quarter of fiscal 2020 was $0.04 contrast to earnings per diluted share from continuing operations attributable to AeroVironment for the third quarter fiscal 2019 of $0.35.

Non-GAAP loss per diluted share from continuing operations was $0.01 for the third quarter of fiscal 2020 contrast to Non-GAAP earnings per diluted share from continuing operations for the third quarter of fiscal 2019 of $0.35.

FISCAL 2020 YEAR-TO-DATE RESULTS

Revenue for the first nine months of fiscal 2020 was $232.1M, a raise of 3% from the first nine months of fiscal 2019 revenue of $226.3M. The increase in revenue was Because of a raise in product sales of $7.3M, partially offset by a decrease in service revenue of $1.5M.

Gross margin for the first nine months of fiscal 2020 was $99.9M, a raise of 9% from the first nine months of fiscal 2019 gross margin of $91.4M. The increase in gross margin was primarily Because of a raise in product margin of $8.2M and a raise in service margin of $0.4M. As a percentage of revenue, gross margin increased to 43% from 40%. The increase in gross margin percentage was primarily Because of a favorable product mix, partially offset by a raise in intangible asset amortization expense associated with our acquisition of Pulse Aerospace in June 2019.

Income from continuing operations for the first nine months of fiscal 2020 was $25.8M, a decrease of 10% from the first nine months of fiscal 2019 income from continuing operations of $28.7M. The decrease in income from continuing operations was primarily a result of a raise in R&D expense of $8.3M and a raise in SG&A expense of $3.1M, partially offset by a raise in gross margin of $8.6M.

Other income, net, for the first nine months of fiscal 2020 was $4.3M contrast to $13.9M for the first nine months of fiscal 2019. The decrease in other income, net was primarily Because of a one-time gain from a litigation settlement of $0.26 per diluted share in fiscal 2019 and a decrease in income from transition services performed on behalf of the buyer of the discontinued EES business.

Provision for income taxes for the first nine months of fiscal 2020 was $3.2M contrast to $4.7M for the first nine months of fiscal 2019. The decrease in provision for income taxes was primarily Because of the decrease in income before income taxes.

Equity method investment loss, net of tax, for the first nine months of fiscal 2020 was $3.4M contrast to $2.1M for the first nine months of fiscal 2019 associated with our investment in HAPSMobile, Inc. joint venture formed in December 2017.

Net income attributable to AeroVironment for the first nine months of fiscal 2020 was $23.6M, a decrease from the first nine months of fiscal 2019 net income attributable to AeroVironment of $41.8M. The first nine months of fiscal 2019 included a one-time gain from a litigation settlement of $0.26 per diluted share.

Earnings per diluted share from continuing operations attributable to AeroVironment for the first nine months of fiscal 2020 was $0.98 contrast to $1.49 for the first nine months of fiscal 2019. The first nine months of fiscal 2019 included a one-time gain from a litigation settlement of $0.26 per diluted share.

Non-GAAP earnings per diluted share from continuing operations was $1.07 for the first nine months of fiscal 2020 contrast to Non-GAAP earnings per diluted share from continuing operations for the first nine months of fiscal 2019 of $1.23.

Its earnings per share (EPS) expected to touch remained 68.40% for this year while earning per share for the next 5-years is expected to reach at 29.20%. AVAV has a gross margin of 42.80% and an operating margin of 9.70% while its profit margin remained 9.20% for the last 12 months.   According to the most recent quarter its current ratio was 7.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 10.03% from the mean of 20 days, -2.04% from mean of 50 days SMA and performed 1.63% from mean of 200 days price. Company’s performance for the week was 15.88%, 17.03% for month and YTD performance remained -2.59%.

 

Leave a Reply

Your email address will not be published. Required fields are marked *