10-Q Filing

AeroVironment Inc CIK: 1368622 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-064587`
Period End Date	20140731
Filing Date	20140904
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	avav-20140802.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 42 Cash Flow Statement 62 Comprehensive Income 6

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$626.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$791.00K	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`	$75.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$126.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$126.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$148.05M	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
Short-term investments	`ShortTermInvestments`	$70.64M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$76.84M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	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 $626 at August 2, 2014 and $791 at April 30, 2014	`AccountsReceivableNetCurrent`	$23.21M	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $626 at August 2, 2014 and $791 at April 30, 2014	`AccountsReceivableNetCurrent`	$31.74M	USD	Point-in-time
Unbilled receivables and retentions	`UnbilledContractsReceivableAndRetentionsCurrent`	$7.66M	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
Unbilled receivables and retentions	`UnbilledContractsReceivableAndRetentionsCurrent`	$10.93M	USD	Point-in-time
Inventories, net	`InventoryNet`	$50.70M	USD	Point-in-time
Inventories, net	`InventoryNet`	$46.44M	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`	23.18M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$6.58M	USD	Point-in-time
Common stock, Issued shares	`CommonStockSharesIssued`	23.36M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$3.46M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	23.36M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$5.04M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$4.75M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	23.18M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.32M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$313.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$306.86M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$39.31M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$50.51M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$17.90M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$6.69M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$6.72M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$874.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$971.00K	USD	Point-in-time
Total assets	`Assets`	$378.60M	USD	Point-in-time
Total assets	`Assets`	$384.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.12M	USD	Point-in-time
Wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$9.28M	USD	Point-in-time
Wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$14.08M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$4.78M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$2.98M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$5.86M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.05M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$1.24M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$1.29M	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$3.51M	USD	Point-in-time
Liability for uncertain tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$3.51M	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 - 23,356,556 at August 2, 2014 and 23,176,576 at April 30, 2014	`CommonStockValue`	$2.00K	USD	Point-in-time
Common stock, $0.0001 par value: Authorized shares - 100,000,000 Issued and outstanding shares - 23,356,556 at August 2, 2014 and 23,176,576 at April 30, 2014	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$143.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$145.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-263.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-215.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$195.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$199.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$340.75M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$342.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$384.95M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$378.60M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$27.17M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$42.81M	USD	1 Quarter
Contract services	`SalesRevenueServicesNet`	$9.05M	USD	1 Quarter
Contract services	`SalesRevenueServicesNet`	$16.94M	USD	1 Quarter
Total revenue	`Revenues`	$51.87M	USD	1 Quarter
Total revenue	`Revenues`	$44.12M	USD	1 Quarter
Product sales	`CostOfGoodsSold`	$30.80M	USD	1 Quarter
Product sales	`CostOfGoodsSold`	$20.55M	USD	1 Quarter
Contract services	`CostOfServices`	$7.01M	USD	1 Quarter
Contract services	`CostOfServices`	$11.02M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$31.57M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$37.81M	USD	1 Quarter
Product sales	`SalesGrossProfit`	$6.62M	USD	1 Quarter
Product sales	`SalesGrossProfit`	$12.01M	USD	1 Quarter
Contract services	`ServicesGrossProfit`	$2.04M	USD	1 Quarter
Contract services	`ServicesGrossProfit`	$5.93M	USD	1 Quarter
Total gross margin	`GrossProfit`	$14.05M	USD	1 Quarter
Total gross margin	`GrossProfit`	$12.54M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.40M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.46M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.19M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.12M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.47M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.10M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$212.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$205.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$591.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.39M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.67M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.29M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-2.06M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-3.08M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.21M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.61M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.32	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.32	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.80M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.24M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.80M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.24M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Unrealized (gain) loss on available-for-sale investments recorded in other comprehensive loss, deferred taxes	`AvailableForSaleSecuritiesIncomeTaxExpenseOnChangeInUnrealizedHoldingGainOrLoss`	$-32.00K	USD	1 Quarter
Unrealized (gain) loss on available-for-sale investments recorded in other comprehensive loss, deferred taxes	`AvailableForSaleSecuritiesIncomeTaxExpenseOnChangeInUnrealizedHoldingGainOrLoss`	$32.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.21M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.19M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$122.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-141.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$-23.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxNoncashExpenseBenefit`	$291.00K	USD	1 Quarter
Realized gain on sale of equity securities	`AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments`	$473.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$910.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$846.00K	USD	1 Quarter
Foreign currency losses	`ForeignCurrencyTransactionGainLossBeforeTax`	$-183.00K	USD	1 Quarter
(Increase) decrease in fair value of conversion feature of convertible bonds	`ChangeInFairValueOfConversionFeatureOfConvertibleBonds`	$3.39M	USD	1 Quarter
(Increase) decrease in fair value of conversion feature of convertible bonds	`ChangeInFairValueOfConversionFeatureOfConvertibleBonds`	$-393.00K	USD	1 Quarter
Tax benefit from exercise of stock options	`DeferredTaxExpenseFromStockOptionsExercised`	$11.00K	USD	1 Quarter
Tax benefit from exercise of stock options	`DeferredTaxExpenseFromStockOptionsExercised`	$28.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$313.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-8.67M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-44.00K	USD	1 Quarter
Unbilled receivables and retentions	`IncreaseDecreaseInUnbilledContractsReceivableAndRetentions`	$-3.27M	USD	1 Quarter
Unbilled receivables and retentions	`IncreaseDecreaseInUnbilledContractsReceivableAndRetentions`	$-1.58M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-4.26M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-3.12M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$3.04M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-780.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-538.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.60M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-781.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-3.54M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-3.01M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$14.37M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-13.18M	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.00K	USD	1 Quarter
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.46M	USD	1 Quarter
Net (purchases) redemptions of held-to-maturity investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$-2.92M	USD	1 Quarter
Net (purchases) 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`	$8.68M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$5.72M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.16M	USD	1 Quarter
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$313.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$679.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$23.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$992.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$23.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$21.08M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-10.99M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$75.33M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$126.97M	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`	$126.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$148.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$75.33M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$126.97M	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`	$126.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$148.05M	USD	Point-in-time
Unrealized (gain) loss on available-for-sale investments recorded in other comprehensive loss, net of deferred taxes of $(32) and $32, respectively	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$48.00K	USD	1 Quarter
Unrealized (gain) loss on available-for-sale investments recorded in other comprehensive loss, net of deferred taxes of $(32) and $32, respectively	`AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax`	$-48.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.21M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.61M	USD	1 Quarter
Unrealized gain (loss) on investments, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-48.00K	USD	1 Quarter
Unrealized gain (loss) on investments, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$48.00K	USD	1 Quarter
Total comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-3.56M	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.