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What: Shares of AeroVironment
So what: For the quarter, revenue increased 39% to $84.4 million and topped estimates of $78.5 million on higher unmanned aircraft sales and a rollout of the company's electric vehicle charging system. Earnings were also impressive at $11.5 million, or $0.52 a share, higher than analyst's expectation of $0.38 a share.
Now what: AeroVironment is clicking on all cylinders, and with more than 1,000 charging systems already installed, the momentum looks strong in all parts of the business. Management expects 12.5% to 15% growth in 2011, and with a funded backlog of $103.8 million, the company is on its way. I see nothing but bullish news in today's release and think momentum will continue for both the unmanned aircraft and efficient energy systems units.
Interested in more info on AeroVironment? Add it to your watchlist.
Fool contributor Travis Hoium is happy to say he owns shares of AeroVironment. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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