UPDATE 1-AeroVironment Q1 results beat Wall Street view

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Tue Sep 9, 2008 5:07pm EDT

(Recasts; adds details, share movement)

Sept 9 (Reuters) - AeroVironment Inc (AVAV.O), a maker of unmanned aircraft systems, posted better-than-expected quarterly results helped by higher revenue, sending its shares up 7 percent in trading after the bell.

For the first quarter ended Aug. 2, net income was $4.8 million, or 22 cents a share, compared with $3.8 million, or 18 cents a share, a year ago. Revenue rose 9 percent to $53.6 million.

Analysts on average were expecting earnings of 18 cents a share, before special items, on revenue of $50.9 million, according to Reuters Estimates.

Sales at the company's unmanned aircraft systems segment rose 10 percent, while efficient energy systems revenue rose 3 percent.

For fiscal 2009, the company still expects revenue to grow between 20 percent and 25 percent over 2008. In fiscal 2008, AeroVironment posted revenue of $215.7 million.

Analysts were expecting the company to post revenue of $263.7 million for fiscal 2009.

Shares of the Monrovia, California-based company rose to $31.56 in trading after the bell. They closed at $29.39 Tuesday on Nasdaq. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Vinu Pilakkott)

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