10-Q Filing

AeroVironment Inc CIK: 1368622 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001104659-12-061759`
Period End Date	20120731
Filing Date	20120906
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	avav-20120728.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 36 Cash Flow Statement 57 Comprehensive Income 6

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.14M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$921.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, Authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, Authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.04M	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$81.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.21M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$69.47M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$77.15M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,139 at July 28, 2012 and $921 at April 30, 2012	`AccountsReceivableNetCurrent`	$49.88M	USD	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,139 at July 28, 2012 and $921 at April 30, 2012	`AccountsReceivableNetCurrent`	$56.42M	USD	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Unbilled receivables and retentions	`UnbilledContractsReceivableAndRetentionsCurrent`	$27.03M	USD	Point-in-time
Common stock, Issued shares	`CommonStockSharesIssued`	22.24M	shares	Point-in-time
Common stock, Issued shares	`CommonStockSharesIssued`	22.26M	shares	Point-in-time
Unbilled receivables and retentions	`UnbilledContractsReceivableAndRetentionsCurrent`	$23.26M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	22.24M	shares	Point-in-time
Inventories, net	`InventoryNet`	$43.54M	USD	Point-in-time
Inventories, net	`InventoryNet`	$44.51M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	22.26M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.75M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$9.34M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$9.38M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.03M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.57M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$281.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$254.99M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$58.46M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$56.96M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.52M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.13M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$5.21M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$5.18M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$201.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$230.00K	USD	Point-in-time
Total assets	`Assets`	$340.49M	USD	Point-in-time
Total assets	`Assets`	$369.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.09M	USD	Point-in-time
Wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$19.08M	USD	Point-in-time
Wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$10.16M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$8.79M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$5.04M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$5.12M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$9.90M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.39M	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsCurrent`	$606.00K	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsCurrent`	$606.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$63.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.28M	USD	Point-in-time
Wages and other accruals	`EmployeeRelatedLiabilitiesAndOtherAccrualsNoncurrent`	$1.20M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$1.02M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$976.00K	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$4.03M	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$4.03M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value: Authorized shares - 10,000,000; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value: Authorized shares - 10,000,000; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value: Authorized shares - 100,000,000 Issued and outstanding shares - 22,262,506 at July 28, 2012 and 22,243,903 at April 30, 2012	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock, $0.0001 par value: Authorized shares - 100,000,000 Issued and outstanding shares - 22,262,506 at July 28, 2012 and 22,243,903 at April 30, 2012	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$126.31M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$124.95M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-657.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-694.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$173.55M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$174.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$299.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$299.20M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$369.15M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$340.49M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$29.30M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$28.69M	USD	1 Quarter
Contract services	`SalesRevenueServicesNet`	$32.70M	USD	1 Quarter
Contract services	`SalesRevenueServicesNet`	$29.99M	USD	1 Quarter
Total revenue	`Revenues`	$58.68M	USD	1 Quarter
Total revenue	`Revenues`	$62.00M	USD	1 Quarter
Product sales	`CostOfGoodsSold`	$20.56M	USD	1 Quarter
Product sales	`CostOfGoodsSold`	$17.87M	USD	1 Quarter
Contract services	`CostOfServices`	$18.61M	USD	1 Quarter
Contract services	`CostOfServices`	$22.41M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$40.28M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$39.17M	USD	1 Quarter
Gross margin	`GrossProfit`	$21.71M	USD	1 Quarter
Gross margin	`GrossProfit`	$19.50M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.70M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.62M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.59M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.14M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-2.25M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$429.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$78.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$172.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$507.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.08M	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$181.00K	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$-694.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.39M	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$326.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.93M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.72M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.24M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.93M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Unrealized gains on long-term investments recorded in other comprehensive income, deferred taxes	`AvailableForSaleSecuritiesIncomeTaxExpenseOnChangeInUnrealizedHoldingGainOrLoss`	$2.00K	USD	1 Quarter
Unrealized gains on long-term investments recorded in other comprehensive income, deferred taxes	`AvailableForSaleSecuritiesIncomeTaxExpenseOnChangeInUnrealizedHoldingGainOrLoss`	$24.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.39M	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$326.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.93M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.97M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$240.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$330.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-160.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$42.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$840.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$754.00K	USD	1 Quarter
Tax benefit from exercise of stock options	`TaxBenefitFromStockOptionsExercised1`	$88.00K	USD	1 Quarter
Tax benefit from exercise of stock options	`TaxBenefitFromStockOptionsExercised1`	$376.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$80.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-22.01M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.30M	USD	1 Quarter
Unbilled receivables and retentions	`IncreaseDecreaseInUnbilledContractsReceivableAndRetentions`	$-8.57M	USD	1 Quarter
Unbilled receivables and retentions	`IncreaseDecreaseInUnbilledContractsReceivableAndRetentions`	$-3.78M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$966.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$162.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$745.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$1.75M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-196.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-433.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.13M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-18.59M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-13.34M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-21.18M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-17.77M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.46M	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.55M	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.61M	USD	1 Quarter
Net sales of held-to-maturity investments	`ProceedsFromPaymentsForHeldToMaturitySecurities`	$9.06M	USD	1 Quarter
Net sales of held-to-maturity investments	`ProceedsFromPaymentsForHeldToMaturitySecurities`	$19.96M	USD	1 Quarter
Net sales of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$125.00K	USD	1 Quarter
Net sales of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$175.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$6.69M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$17.48M	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$80.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$195.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$69.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$275.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$69.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$19.21M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-11.01M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$62.04M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$81.25M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.21M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$62.04M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$81.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.21M	USD	Point-in-time
Unrealized gains on long-term investments recorded in other comprehensive income, net of deferred taxes of $24 and $2, respectively	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$2.00K	USD	1 Quarter
Unrealized gains on long-term investments recorded in other comprehensive income, net of deferred taxes of $24 and $2, respectively	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$37.00K	USD	1 Quarter
Reclassification from share-based liability compensation to equity	`ReclassificationFromShareBasedLiabilityCompensationToEquity`	$401.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.39M	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$326.00K	USD	1 Quarter
Unrealized gain on investments, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$37.00K	USD	1 Quarter
Unrealized gain on investments, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-1.35M	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$328.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.