AeroVironment Inc (NASDAQ: AVAV) shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results.
- Q1 Revenue: $152.3 million beat estimates of $137.24 million
- Q1 EPS: $1.00 beat estimates of 40 cents
Revenues were up 40% on a year-over-year basis driven by higher shipments across all business segments. Net income jumped 361% to $21.9 million. The company ended the quarter with a backlog of $539.7 million, up 27% sequentially.
"We took steps to further strengthen and expand our product portfolio ...