ARLINGTON, Va. — (BUSINESS WIRE) — June 28, 2022 — AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today reported financial results for the fourth quarter and fiscal year ended April 30, 2022.
Fourth Quarter and Fiscal Year Highlights
- Fourth quarter revenue of $132.6 million and record fiscal year 2022 revenues of $445.7 million, primarily due to higher service revenue and recent acquisitions, which more than offset sales declines in some product segments
- Fourth quarter gross margin of $48.6 million and $141.2 million for fiscal 2022
- Fourth quarter net income attributable to AeroVironment of $7.3 million, or $0.29 per diluted share
- Net loss attributable to AeroVironment for fiscal year 2022 of $4.2 million, or $(0.17) per diluted share
“Our team executed well in the fourth quarter enabling the Company to meet our guidance for fiscal 2022, despite ongoing macroeconomic challenges,” said Wahid Nawabi, AeroVironment president and chief executive officer. “We are confident that fiscal 2023 will be a solid organic growth year for the business.
“During the quarter, the Company continued to face supply chain constraints and a tight labor market, but several factors point to strengthening demand and an overall...