A positive earnings surprise typically generates robust upside sentiment and defense contractor AeroVironment (AVAV) – which specializes in unmanned aerial vehicles – was no exception. After posting $13.9 million in net income for its fiscal third quarter, AVAV stock saw its value soar in aftermarket trading on Monday.
It was a pleasant picture of contrast. In the year-ago quarter, AeroVironment suffered a loss. This time around, on a per-share basis, the Virginia-based enterprise stated that it generated a profit of 50 cents. Earnings, when adjusted for non-recurring costs, landed at 63 cents per share, according to Barchart content partner AP.
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