Aerovironment Posts Strong Growth

FISCAL 2012 FULL YEAR RESULTS
Revenue for fiscal 2012 was $325 .0 million, up 11% from fiscal 2011 revenue of $292 .5 million. The increase in revenue resulted from increased sales in our UAS segment of $24 .0 million and EES segment of $8.5 million .
Income from operations for fiscal 2012 was $43 .1 million, an increase of $9.1 million from fiscal 2011 income from operations of $34 .0 million. The increase in income from operations was caused by higher gross margin of $12.2 million and lower R&D expense of $4.8 million offset by higher SG&A expense of $7.9 million .
Net income for fiscal 2012 was $30 .5 million, an increase of $4.6 million from fiscal 2011 net income of $25 .9 million.
Earnings per diluted share for fiscal 2012 were $1.36 , an increase of $0.19 from fiscal 2011 earnings per diluted share of $1.17 .
BACKLOG
As of April 30, 2012 , funded backlog (unfilled firm orders for which funding is currently appropriated to us under a customer contract) was $93 .2 million compared to $82 .9 million as of April 30, 2011.