AeroVironment Sees Net Income Plunge | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

 Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.22.24

Airborne-Unlimited-04.16.24

 Airborne-FlightTraining-04.17.24 Airborne-AffordableFlyers-04.18.24

Airborne-Unlimited-04.19.24

Thu, Dec 05, 2013

AeroVironment Sees Net Income Plunge

Reports 80 Percent Downturn In Most Recent Quarterly Report

UAV maker AeroVironment is reporting an 80 percent drop in its net income for the second quarter of its current fiscal year, due largely to cuts in military spending.

The company is the largest supplier of hand-launched UAVs for the military, producing the Wasp (pictured), Raven, and Puma models used by ground troops in theater. But with operations in the Middle East winding down and budget cuts looming, orders for the small unmanned aircraft have dried up.

The Los Angeles Times reports that, in a conference call with AeroVironment CEO Timothy Carver, the executive said there is a backlog valued at $133.8 million in the pipeline, and the Army is interested in its "Switchblade" mini cruise missile (pictured, below) that is launched from a tube similar to a mortar.

The company is also hopeful that it will be able to diversify its customer base when the FAA issues rules for integration of UAVs in the U.S. National Airspace System. Those rules are expected sometime in 2015.

(Image provided by AeroVironment)

FMI: www.aerovironment.com


Advertisement

More News

ANN's Daily Aero-Term (04.26.24): DETRESFA (Distress Phrase)

DETRESFA (Distress Phrase) The code word used to designate an emergency phase wherein there is reasonable certainty that an aircraft and its occupants are threatened by grave and i>[...]

ANN's Daily Aero-Linx (04.26.24)

Aero Linx: The International Association of Missionary Aviation (IAMA) The International Association of Missionary Aviation (IAMA) is comprised of Mission organizations, flight sch>[...]

Airborne 04.22.24: Rotor X Worsens, Airport Fees 4 FNB?, USMC Drone Pilot

Also: EP Systems' Battery, Boeing SAF, Repeat TBM 960 Order, Japan Coast Guard H225 Buy Despite nearly 100 complaints totaling millions of dollars of potential fraud, combined with>[...]

Airborne 04.24.24: INTEGRAL E, Elixir USA, M700 RVSM

Also: Viasat-uAvionix, UL94 Fuel Investigation, AF Materiel Command, NTSB Safety Alert Norges Luftsportforbund chose Aura Aero's little 2-seater in electric trim for their next gli>[...]

Airborne-NextGen 04.23.24: UAVOS UVH 170, magni650 Engine, World eVTOL Directory

Also: Moya Delivery Drone, USMC Drone Pilot, Inversion RAY Reentry Vehicle, RapidFlight UAVOS has recently achieved a significant milestone in public safety and emergency services >[...]

blog comments powered by Disqus



Change Display

Headlines Only | Headlines w/ Teasers | View Everything

Advertisement

Top Videos

Airborne 04.26.24: Beta Alia 250, SPEEA v Boeing, Anti-Av Climate Attacks

Airborne-Flight Training 04.25.24: eDA40 Progress, LIFT-Tuskegee, U of OK

Airborne 04.24.24: INTEGRAL E, Elixir USA, M700 RVSM

See All

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC