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Shares of AeroVironment Inc. (Nasdaq: AVAV) - recommended in January and featured in an update this week - jumped 11.5% Wednesday after the drone maker closed its fiscal year with an earnings report that smoked estimates.
During the company's just-reported fiscal fourth quarter, CEO Timothy E. Conver said "we strengthened our market positions, moved key programs forward to generate value, and focused on innovation. In our core business, our team delivered revenue in-line with our expectations and exceeded targeted profitability."
But stock prices are very much a function of expectations, and there's reason to be bullish about the future, too. Last year's strategic investments have bolstered the company's business portfolio, positioning it for the growth investors have long expected.
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