Monrovia's AeroVironment Reports a Loss, But an Expected Loss

Monrovia's AeroVironment reports net loss, as anticipated, for its first quarter ending July 28:

"Fiscal 2013 is unfolding consistent with our range of expectations for the year. We anticipated a typically low revenue first quarter would produce a net loss because we are staffed and investing to achieve the growth we expect in the second half of this year and beyond," said AeroVironment chairman and chief executive officer Tim Conver. "First quarter revenue of $58.7 million was about $3 million less than we expected, attributable to contract timing, and produced a loss per share of $0.06." http://goo.gl/BTBd8

- Brad Haugaard