10-Q Filing

AeroVironment Inc CIK: 1368622 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-13-066396`
Period End Date	20130731
Filing Date	20130828
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	avav-20130727.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 37 Cash Flow Statement 56 Comprehensive Income 6

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$936.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$731.00K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$53.21M	USD	Point-in-time
Preferred stock, Authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.22M	USD	Point-in-time
Preferred stock, Authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.33M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$64.47M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$73.24M	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
Accounts receivable, net of allowance for doubtful accounts of $731 at July 27, 2013 and $936 at April 30, 2013	`AccountsReceivableNetCurrent`	$19.77M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $731 at July 27, 2013 and $936 at April 30, 2013	`AccountsReceivableNetCurrent`	$19.60M	USD	Point-in-time
Unbilled receivables and retentions	`UnbilledContractsReceivableAndRetentionsCurrent`	$9.72M	USD	Point-in-time
Unbilled receivables and retentions	`UnbilledContractsReceivableAndRetentionsCurrent`	$11.30M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$62.56M	USD	Point-in-time
Inventories, net	`InventoryNet`	$68.66M	USD	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, Authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, Issued shares	`CommonStockSharesIssued`	22.61M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$14.81M	USD	Point-in-time
Common stock, Issued shares	`CommonStockSharesIssued`	22.67M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$11.78M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	22.61M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	22.67M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$5.17M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$5.19M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.30M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$263.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$250.56M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$67.59M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$68.92M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.43M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.73M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.64M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.61M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.06M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.04M	USD	Point-in-time
Total assets	`Assets`	$363.46M	USD	Point-in-time
Total assets	`Assets`	$351.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.14M	USD	Point-in-time
Wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$9.11M	USD	Point-in-time
Wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$12.12M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$7.00M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$7.52M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.41M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$42.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.85M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$771.00K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$696.00K	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$5.21M	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$5.32M	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 - 22,672,762 at July 27, 2013 and 22,614,315 at April 30, 2013	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock, $0.0001 par value: Authorized shares - 100,000,000 Issued and outstanding shares - 22,672,762 at July 27, 2013 and 22,614,315 at April 30, 2013	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$130.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$131.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-705.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-753.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$185.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$178.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$308.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$315.19M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$351.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$363.46M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$28.69M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$27.17M	USD	1 Quarter
Contract services	`SalesRevenueServicesNet`	$16.94M	USD	1 Quarter
Contract services	`SalesRevenueServicesNet`	$29.99M	USD	1 Quarter
Total revenue	`Revenues`	$44.12M	USD	1 Quarter
Total revenue	`Revenues`	$58.68M	USD	1 Quarter
Product sales	`CostOfGoodsSold`	$20.55M	USD	1 Quarter
Product sales	`CostOfGoodsSold`	$20.56M	USD	1 Quarter
Contract services	`CostOfServices`	$11.02M	USD	1 Quarter
Contract services	`CostOfServices`	$18.61M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$39.17M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$31.57M	USD	1 Quarter
Gross margin	`GrossProfit`	$19.50M	USD	1 Quarter
Gross margin	`GrossProfit`	$12.54M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.62M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.46M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.14M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.19M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.25M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.10M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$172.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$205.00K	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$3.39M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.29M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.08M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-3.08M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-694.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.21M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.39M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.32	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.32	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.24M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.93M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.93M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.24M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Unrealized (loss) gains on long-term investments recorded in other comprehensive income, deferred taxes	`AvailableForSaleSecuritiesIncomeTaxExpenseOnChangeInUnrealizedHoldingGainOrLoss`	$24.00K	USD	1 Quarter
Unrealized (loss) gains on long-term investments recorded in other comprehensive income, deferred taxes	`AvailableForSaleSecuritiesIncomeTaxExpenseOnChangeInUnrealizedHoldingGainOrLoss`	$32.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.21M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.93M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$122.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$240.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$-23.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$42.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$910.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$840.00K	USD	1 Quarter
Change in fair value of conversion feature of convertible bonds	`ChangeInFairValueOfConversionFeatureOfConvertibleBonds`	$3.39M	USD	1 Quarter
Tax benefit from exercise of stock options	`TaxBenefitFromStockOptionsExercised1`	$28.00K	USD	1 Quarter
Tax benefit from exercise of stock options	`TaxBenefitFromStockOptionsExercised1`	$88.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.30M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-44.00K	USD	1 Quarter
Unbilled receivables and retentions	`IncreaseDecreaseInUnbilledContractsReceivableAndRetentions`	$-3.78M	USD	1 Quarter
Unbilled receivables and retentions	`IncreaseDecreaseInUnbilledContractsReceivableAndRetentions`	$-1.58M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$966.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$1.75M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$3.04M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-538.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-433.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.13M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.60M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-21.18M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-3.01M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-13.18M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-17.77M	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.55M	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.46M	USD	1 Quarter
Net redemptions of held-to-maturity investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$9.06M	USD	1 Quarter
Net redemptions of held-to-maturity investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$6.44M	USD	1 Quarter
Net sales of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$175.00K	USD	1 Quarter
Net sales of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$175.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.16M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$6.69M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$69.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$23.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$23.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$69.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-11.01M	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-10.99M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.21M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.34M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$75.33M	USD	Point-in-time
Cash and cash equivalents at end 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`	$64.34M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$75.33M	USD	Point-in-time
Unrealized (loss) gain on long-term investments recorded in other comprehensive (loss) income, net of deferred taxes of $32 and $24, respectively	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$-48.00K	USD	1 Quarter
Unrealized (loss) gain on long-term investments recorded in other comprehensive (loss) income, net of deferred taxes of $32 and $24, respectively	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$37.00K	USD	1 Quarter
Reclassification from share-based liability compensation to equity	`ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsTotalShareBasedLiabilitiesPaid`	$401.00K	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.21M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.39M	USD	1 Quarter
Unrealized (loss) gain on investments, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-48.00K	USD	1 Quarter
Unrealized (loss) gain on investments, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$37.00K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.35M	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-7.26M	USD	1 Quarter

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