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-05.06.24

Airborne-NextGen-04.30.24

Airborne-Unlimited-05.01.24 Airborne-AffordableFlyers--05.02.24

Airborne-Unlimited-05.03.24

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 (05.05.24): Omnidirectional Approach Lighting System

Omnidirectional Approach Lighting System ODALS consists of seven omnidirectional flashing lights located in the approach area of a nonprecision runway. Five lights are located on t>[...]

Aero-News: Quote of the Day (05.05.24)

"Polaris Dawn, the first of the program’s three human spaceflight missions, is targeted to launch to orbit no earlier than summer 2024. During the five-day mission, the crew >[...]

Airborne 05.06.24: Gone West-Dick Rutan, ICON BK Update, SpaceX EVA Suit

Also: 1800th E-Jet, Uncle Sam Sues For Landing Gear, Embraer Ag Plane, Textron Parts A friend of the family reported that Lt. Col. (Ret.) Richard Glenn Rutan flew west on Friday, M>[...]

Airborne 05.03.24: Advanced Powerplant Solutions, PRA Runway Woes, Drone Racing

Also: Virgin Galactic, B-29 Doc to Allentown, Erickson Fire-Fighters Bought, FAA Reauthorization After dealing with a big letdown after the unexpected decision by Skyreach to disco>[...]

Aero-News: Quote of the Day (05.06xx.24)

“Our aircrews are trained and capable of rapidly shifting from operational missions to humanitarian roles. We planned to demonstrate how we, and our BORSTAR partners, respond>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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