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MarketScreener Homepage  >  Equities  >  Nasdaq  >  AeroVironment, Inc.    AVAV

AEROVIRONMENT, INC.

(AVAV)
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AEROVIRONMENT INC : Change in Directors or Principal Officers, Regulation FD Disclosure, Other Events, Financial Statements and Exhibits (form 8-K)

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05/16/2019 | 10:04am EDT

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 13, 2019, Kirk J. Flittie, Senior Vice President and General Manager of AeroVironment, Inc. (the "Company"), notified the Company of his intent to resign and retire from the Company due to personal health reasons, effective July 13, 2019. It is expected that the Company and Mr. Flittie will enter into a consulting agreement pursuant to which Mr. Flittie will provide consulting services to the Company for a period of time after his retirement.

Item 7.01. Regulation FD Disclosure.

On May 16, 2019, the Company issued a press release announcing Mr. Flittie's resignation from the Company. A copy of the Company's press release is furnished with this Form 8-K and attached hereto as Exhibit 99.1.

The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. Such information shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.


Item 8.01.  Other Events.


On May 16, 2019, the Company purchased ¥500,000,000 JPY (approximately $4.6 million) of additional shares of HAPSMobile, Inc. to maintain its 10 percent ownership interest HAPSMobile, Inc., its joint venture with SoftBank Corp. In conjunction with HAPSMobile's previously announced plan to invest $125 million in Loon LLC and a related capital raise, the Company expects that its ownership percentage will be subsequently diluted to no less than 5 percent.

Item 9.01 Financial Statements and Exhibits




(d)  Exhibits.



Exhibit
Number                                Description
 99.1       Press release issued by AeroVironment, Inc., dated May 16, 2019




                                       2

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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Financials ($)
Sales 2019 309 M
EBIT 2019 35,1 M
Net income 2019 49,5 M
Finance 2019 320 M
Yield 2019 -
P/E ratio 2019 32,57
P/E ratio 2020 39,39
EV / Sales 2019 4,14x
EV / Sales 2020 3,40x
Capitalization 1 598 M
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 75,6 $
Spread / Average Target 13%
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Managers
NameTitle
Wahid Nawabi President, Chief Executive Officer & Director
Timothy E. Conver Chairman
Kenneth Karklin Senior Vice President-Operations
Teresa P. Covington CFO, Principal Accounting Officer & SVP
Charles Robert Holland Independent Director
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