Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q2 FY2010 Earnings Presentation
24 slides from Aerovironment's earnings presentation, January 2010
Slide 1: Second Quarter FY 2010 Investor Overview
AeroVironment, Inc. Second Quarter FY 2010 Investor Overview January 2010 © 2010 AeroVironment, Inc.
Slide 2: Safe Harbor Statement
Safe Harbor Statement January 2010 © 2010 AeroVironment, Inc. 2
Slide 3: Activity Time Location
Activity Time Location Mgmt Q&A 1:30 – 2:30 900 Bd Room SUAS Facility 2:30 – 3:00 900 Tour Travel 3:00 – 3:15 GO Facility Tour 3:15 – 3:45 Moreland Travel 3:45 – 4:00 Flight Demo 4:00 – 4:30 Brennan Return to 900 4:30 – 4:45 January 2010 © 2010 AeroVironment, Inc. 3
Slide 4: Investment Thesis
Investment Thesis January 2010 © 2010 AeroVironment, Inc. 4
Slide 5: Innovation…Defined
Innovation…Defined January 2010 © 2010 AeroVironment, Inc. 5
Slide 6: We Develop, Produce, Sell and Support Innovative Technology Solutions
We Develop, Produce, Sell and Support Innovative Technology Solutions that Help Customers Win Small Unmanned Aircraft Systems Electric Vehicle Test Systems (UAS) And Charging Systems Breakthrough Development Programs Offering Compelling New Value Propositions January 2010 © 2010 AeroVironment, Inc.
Slide 7: Small, Hand-Launched UAS Embedded in U.S. Military Operations
Small, Hand-Launched UAS Embedded in U.S. Military Operations 85% of total FY ’09 company revenue 39% revenue CAGR FY ’04 – ’09 Sole supplier to all U.S. DoD programs of record for small UAS January 2010 © 2010 AeroVironment, Inc. 7
Slide 8: UAS Produce and Deliver Remote Imagery
UAS Produce and Deliver Remote Imagery Small UAS Respond to the Immediate Need for RSTA* Stratospheric Dwell Altitude Global Observer High Global Hawk Predator Close-in Shadow Small UAS Shorter Longer Flight Duration * Reconnaissance, Surveillance, Target Acquisition January 2010 © 2010 AeroVironmen
Slide 9: Small UAS Provide Front Line RSTA
Small UAS Provide Front Line RSTA The Difference is Real Time Situational Awareness Without Small UAS With Small UAS January 2010 © 2010 AeroVironment, Inc. 9
Slide 10: AV Small Unmanned Aircraft Systems
AV Small Unmanned Aircraft Systems Portable Tools for the 21st Century Warfighter January 2010 © 2010 AeroVironment, Inc. 10
Slide 11: Digital Raven: Advanced Capabilities for Small UAS
Digital Raven Advanced Capabilities for Small UAS January 2010 © 2010 AeroVironment, Inc. 11
Slide 12: Multiple UAS Revenue Drivers
Multiple UAS Revenue Drivers January 2010 © 2010 AeroVironment, Inc. 12
Slide 13: Development Programs - Global Observer
Development Programs - Global Observer Affordable Persistent ISR and Communications Relay January 2010 © 2010 AeroVironment, Inc. 13
Slide 14: Development Programs - Switchblade
Development Programs - Switchblade Loitering Miniature Munitions Delivery System January 2010 © 2010 AeroVironment, Inc. 14
Slide 15: Efficient Energy Systems
Efficient Energy Systems Enabling Solutions for Electric Vehicles Market leading products: - Electric Vehicle (EV) Test Systems - PosiCharge™ Fast Charge Systems Technology leadership: - Industrial and Passenger EV charging - EV simulation systems - Efficient EV sub-systems FY ’09: 15% of total comp
Slide 16: Leading Test Systems for Electric Vehicle and Advanced Battery Development
Leading Test Systems for Electric Vehicle and Advanced Battery Development January 2010 © 2010 AeroVironment, Inc. 16
Slide 17: Leading Advanced Charging Systems for Industrial Electric Vehicles
Leading Advanced Charging Systems for Industrial Electric Vehicles January 2010 © 2010 AeroVironment, Inc. 17
Slide 18: Development Programs – EV Charging Systems
Development Programs – EV Charging Systems Critical Infrastructure for Successful EV Adoption Home/ garage overnight Commercial opportunity True fast charging stations charging stations charging stations January 2010 © 2010 AeroVironment, Inc. 18
Slide 19: Financial Highlights
Financial Highlights January 2010 © 2010 AeroVironment, Inc. 19
Slide 20: Consistent and Profitable Revenue Growth
Consistent and Profitable Revenue Growth EES UAS CAG In $ Millions (FYE 4/30) 2004 2005 2006 2007 2008 2009 R Revenue $48 $105 $139 $174 $216 $248 39% Gross Profit $15 $47 $57 $68 $79 $89 44% Margin 31% 44% 41% 39% 36% 36% Operating Income $3 $20 $16 $31 $28 $33 60% Margin 6% 19% 11% 18% 13% 13% Jan
Slide 21: FY10 Quarterly Performance
FY10 Quarterly Performance In $ Millions Qtr. 1 Qtr. 2 Revenue $37.9 $51.4 Gross Profit $10.7 $19.6 Margin 28% 38% Operating Income ($5.5) $3.4 Margin -14% 7% Net Income ($3.6) $2.2 Margin -9% 4% January 2010 © 2010 AeroVironment, Inc. 21
Slide 22: Diverse Revenue Mix
Diverse Revenue Mix Revenue by Function Contract Mix Q2 FY 2010 YTD FY 2009 January 2010 © 2010 AeroVironment, Inc. 22
Slide 23: Strong Balance Sheet
Strong Balance Sheet AeroVironment Fiscal Quarter Ended 10/31/09 (in Millions) Cash & Investments $131 Payables $16 Receivables 52 Other Liabilities 23 Inventories 25 Property and Equipment 20 Capital 111 Other Assets 18 Retained Earnings 96 Total Assets $246 Total Liabilities & Equity $246 January
Slide 24: Investment Thesis
Investment Thesis January 2010 © 2010 AeroVironment, Inc. 24