Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q1 FY2020 Earnings Presentation
13 slides from Aerovironment's earnings presentation, Sep 4, 2019
Slide 1: First Quarter Fiscal Year 2020 Earnings Release Presentation
First Quarter Fiscal Year 2020 Earnings Release Presentation September 4, 2019 September 4, 2019 © 2019 AeroVironment, Inc.
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements in this presentation may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imp
Slide 3: First Quarter Fiscal Year 2020 Key Messages
First Quarter Fiscal Year 2020 Key Messages Our team delivered outstanding first quarter results We are successfully executing our plan and remain on-track to achieve our fiscal year 2020 objectives We continue to make great progress on our strategic growth initiatives On-track to achieve Fiscal Yea
Slide 4: Outstanding Results
Outstanding First Quarter Fiscal Year 2020 Results Metric 1st Qtr. Fiscal Year 2020 Year-Over-Year Change Highlights Revenue $86.9 million + 11% Strong small UAS sales Gross profit $41.3 million + 27% Favorable revenue mix EPS (diluted) $0.71 - $0.14 Q1 fiscal year 2019 included $0.26 one-time gain
Slide 5: Business Highlights
First Quarter Fiscal Year 2020 Business Highlights Received $45 million U.S. Army Contract Award for Raven systems Initiated HAPS demonstration/test phase of program; began assembly of second HAWK30 solar HAPS system Acquired VAPOR unmanned helicopter product line 5 September 4, 2019 © 2019 AeroViro
Slide 6: Favorable Revenue Mix and Higher Volume Contributed to $0.15 Increase in Non-GAAP Diluted EPS
Favorable First Quarter Fiscal Year 2020 Revenue Mix and Higher Volume Contributed to $0.15 Increase in Non-GAAP Diluted EPS* * Excludes Q1 Fiscal Year 2019 one-time gain of $0.26 from litigation settlement and Q1 Fiscal Year 2020 amortization of intangible assets & acquisition-related expenses of $
Slide 7: Government Fiscal Year 2019 Procurement Appropriations Conversion to AeroVironment Contract Awards
Government Fiscal Year 2019 Procurement Appropriations Conversion to AeroVironment Contract Awards *Anticipate Switchblade contract award for Army/Marines LMAMS by AeroVironment’s fiscal Fourth qtr.; funds can extend into subsequent fiscal years * 7 September 4, 2019 © 2019 AeroVironment, Inc.
Slide 8: HAPS Builds on Decades of AeroVironment Solar-HAPS Experience
HAPS Builds on Decades of AeroVironment Solar-HAPS Experience – Program Continues to Advance SoftBank Corp. owns approximately 95% of HAPSMobile Inc, AeroVironment owns approximately 5% Developing solar HAPS unmanned aircraft system (HAWK30) to deliver next generation connectivity (i.e., 5G mobile,
Slide 9: Visibility to Midpoint of Revenue Guidance Range of 75%
First Quarter Fiscal Year 2020 Visibility to Midpoint of Revenue Guidance Range of 75% 55% visibility 75% visibility Continued strong funded backlog supports high visibility Revenue Guidance Range as of 9/4/19: $350 million to $370 million $87 $152 $150 $29 $18 $16 $15 $- $50 $100 $150 $200 $250 $30
Slide 10: Fiscal Year 2020 Expectations
Fiscal Year 2020 Expectations Fiscal Year 2019 Actuals Current Expectations (9/4/19) Revenue $314 million $350 to $370 million Earnings Per Share (diluted) $1.74 $1.35 to $1.55 Non-GAAP Earnings Per Share (diluted) $1.48* $1.47 to $1.67 First half revenue as a percentage of full year revenue 48% ~45
Slide 11: For more information
For more information: Steven Gitlin Vice President Investor Relations ir@avinc.com +1 (805) 520-8350 11 September 4, 2019 © 2019 AeroVironment, Inc.
Slide 12: Appendix – Reconciliation of Non-GAAP Diluted Earnings Per Share
Appendix – Reconciliation of Non-GAAP Diluted Earnings Per Share (Unaudited) Three Months Ended Three Months Ended July 27, 2019 July 28, 2018 Earnings per diluted share from continuing operations (GAAP) $ 0.71 $ 0.85 Acquisition related expenses 0.01 - Amortization of acquired intangible assets 0.0
Slide 13: Appendix – Reconciliation of Fiscal Year 2020 Non-GAAP Diluted EPS Expectations
Appendix – Reconciliation of Fiscal Year 2020 Non-GAAP Diluted Earnings Per Share Expectations (Unaudited) d s Fiscal year ending April 30, 2020 Expected earnings per diluted share (GAAP) $ 1.35 – 1.55 Acquisition related expenses 0.03 Amortization of acquired intangible assets 0.08 – 0.10 Expected