AeroVironment Narrows Loss in Q1

AeroVironment Inc. narrowed its net loss in the first quarter when compared with the same period from a year ago. The developer and manufacturer of unmanned aerial vehicles and electrical charging systems reported a net loss of $3.4 million, or $0.16 per diluted share, on revenues of $38.2 million for the quarter ending July 31. For the same period a year ago, the company had a net loss of $3.6 million, or $0.17 per diluted share, on revenues of $37.9 million. Monrovia-based AeroVironment has facilities for its unmanned vehicle division in Simi Valley. The company’s financial performance makes progress toward achieving full-year revenue guidance of 10 percent to 15 percent revenue growth when compared to the previous fiscal year. Mark R. Madler