W.J. Hennigan
Los Angeles Times
September 6, 2012

AeroVironment Inc., the Monrovia company that makes small spy drones and electric vehicle charging systems, posted a first-quarter loss of $1.4 million, or 6 cents a share, brought on by decreased sales of its robotic aircraft.

AeroVironment Chief Executive Timothy E. Conver shows off a Nano Hummingbird drone last year, standing in front of a larger drone ominously titled “Global Observer.” (LA Times)

Analysts on average had forecast a loss of 3 cents a share.

In the same period last year the company had a profit of $326,000, or 2 cents a share.

AeroVironment is the Pentagon’s top supplier of small drones — including the Raven, Wasp and Puma models — that give troops on the ground a bird’s-eye view of what’s happening over a ridge or around a bend.

Read full article

Related Articles