Business: Good week - Bad week

Good Week

© Aerovironment

AEROVIRONMENT The unmanned aircraft and efficient electrical systems company turned in a record quarter to 30 April to take its full-year revenue up nearly 15% to $247.7 million; pre-tax profits were up 5% to $33.8 million and the order backlog jumped 40% to $114.8 million.  Chief executive Tim Conver likes the outlook for both segments, given  US government emphasis on military intelligence and surveillance capabilities and electric vehicle infrastructure.

 

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Bad Week

© Sea Launch

SEA LAUNCH The commercial satellite launcher filed for Chapter 11 bankruptcy protection and with court approval will use existing cash to continue operations. It has $100-500 million in assets, but liabilities of between $500 million and $1 billion. The company since 1999 has launched some 30 satellites aboard Zenit-3SL rockets from floating launch platforms on the equator and offers launches from Baikonur Space Centre in Kazakhstan.

 

 

Source: Flight International