Aerovironment Inc. shares jumped 7 percent in after-hours trading Wednesday after the company reported better-than-expected quarterly results, driven by higher sales of its unmanned aircraft and its energy systems.
The Monrovia manufacturer reported net income of $9.1 million (41 cents a share) for the second quarter ended Oct. 31, compared with $5.2 million (24 cents) a year ago. Revenue rose 22 percent to $65.8 million.
Analysts surveyed by Reuters Estimates were expecting earnings of 27 cents a share, before one-time items, on revenue of $63.9 million.
Sales at the company's unmanned aircraft systems segment rose 21 percent to $56.5 million. Revenue from its efficient energy unit, which includes electric vehicle fast charge systems, grew 31 percent to $9.3 million.
The company, which reported fiscal 2008 revenue of almost $216 million, reiterated guidance that it expected fiscal 2009 revenue growth of 20 percent and 25 percent.
Aerovironment shares, which closed down 33 cents to $30.91 in regular trading, gained $2.09 in after-hours trading on the Nasdaq.
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