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Quarterly Results of Operations (Unaudited)

12 Months Ended

Apr. 30, 2021

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

25. Quarterly Results of Operations (Unaudited)

The following tables present selected unaudited consolidated financial data for each of the eight quarters in the two-year period ended April 30, 2021. In the Company’s opinion, this unaudited information has been prepared on the same basis as the audited information and includes all adjustments (consisting of only normal recurring adjustments) necessary for a fair statement of the financial information for the period presented. The Company’s fiscal year ends on April 30. Due to the fixed year end date of April 30, the first and fourth quarters each consist of approximately 13 weeks. The second and third quarters each consist of exactly 13 weeks. The first three quarters end on a Saturday.


	Three Months Ended
	August 1, 2020		October 31, 2020			January 30, 2021		April 30, 2021

	(In thousands except per share data)
Year ended April 30, 2021
Revenue	$	87,450	$	92,665		$	78,782	$	136,015
Gross margin	$	35,411	$	40,851		$	28,641	$	59,655
Net income attributable to AeroVironment, Inc. from continuing operations	$	10,080	$	2,094	(1)	$	211	$	10,946	(2)
Net income per share attributable to AeroVironment, Inc. from continuing operations—basic(3)	$	0.42	$	0.09	(1)	$	0.01	$	0.45	(2)
Net income per share attributable to AeroVironment, Inc. from continuing operations—diluted(3)	$	0.42	$	0.09	(1)	$	0.01	$	0.44	(2)


	Three Months Ended
	July 27,		October 26,		January 25,		April 30,
	2019		2019		2020		2020

	(In thousands except per share data)
Year ended April 30, 2020
Revenue	$	86,911	$	83,271	$	61,891	$	135,223
Gross margin	$	41,272	$	35,166	$	23,496	$	53,168
Net (loss) income attributable to AeroVironment, Inc. from continuing operations	$	17,110	$	7,501	$	(1,008)	$	17,736
Net (loss) income per share attributable to AeroVironment, Inc. from continuing operations—basic(3)	$	0.72	$	0.32	$	(0.04)	$	0.74
Net (loss) income per share attributable to AeroVironment, Inc. from continuing operations—diluted(3)	$	0.71	$	0.31	$	(0.04)	$	0.73

(1)	Includes a loss of $8.4 million for the Company’s proportionate share of the HAPSMobile Inc. joint venture’s impairment of its investment in Loon LLC recorded to “Equity method investment loss, net of tax” in the consolidated statement of operations.

(2)	Includes a $9.3 million legal accrual related to our former EES Business recorded to “Other (expense) income, net” in the consolidated statement of operations.

(3)	Earnings per share is computed independently for each of the quarters presented. The sum of the quarterly earnings per share may not equal the total earnings per share computed for the year due to rounding.