AeroVironment Q3 2020 Earnings Report
Key Takeaways
AeroVironment reported a decrease in revenue for the third quarter of fiscal year 2020, with a loss per share and a non-GAAP loss per share. The company's funded backlog was $126.0 million. Despite the quarterly loss, the company increased full year expectations for diluted earnings per share.
Revenue for the third quarter of fiscal 2020 was $61.9 million, an 18% decrease from the previous year.
Loss per diluted share from continuing operations was $0.04, compared to earnings per diluted share of $0.35 in the third quarter of fiscal 2019.
Non-GAAP loss per diluted share from continuing operations was $0.01, compared to non-GAAP earnings per diluted share of $0.35 in the same quarter last year.
Funded backlog as of January 25, 2020, was $126.0 million, a decrease from $132.5 million the previous year.
AeroVironment
AeroVironment
Forward Guidance
The Company continues to expect to generate revenue between $350 million and $370 million. The Company has revised its expectations and now expects to generate earnings per diluted share of between $1.55 and $1.75 and non-GAAP earnings per diluted share of between $1.67 and $1.87, which excludes acquisition related expenses and amortization of acquired intangible assets.