AeroVironment Inc. beat analysts’ estimates for earnings and revenue in its fiscal second quarter, helped by international sales of small unmanned aircraft.
The Monrovia company reported net income of $8.7 million (39 cents a share) for the quarter ending Oct. 27, compared with $6.6 million (30 cents) in the same period a year earlier. Revenue stayed flat at $80.3 million.
Analysts forecast revenue at $77 million and earnings of 23 cents, according to Thomson Financial Network.
AeroVironment earns most of its revenue from sales of the unmanned aircraft that are designed, built and tested in facilities in Simi Valley. The company also develops and manufacturers electric vehicle charging stations.
Shares gained 18 cents, or less than 1 percent, to close at $20.26 on the Nasdaq