AeroVironment (AVAV), a maker of unmanned aircraft, announced that fiscal third quarter profit increased by 32 percent, due to stronger sales and increased gross margin. The company earned $8.7 million, or 39 cents per share, versus $6.6 million, or 30 cents per share, in the same period last year. Analysts had expected earnings of 22 cents per share. Revenue decreased to $80.3 million from $80.4 million, while analysts expected $76.7 million. Gross margin increased by 16 percent, and the company reported an order backlog of $90.2 million, down from $93.2 million in April.
Shares are higher in early trading.
Francesca's Holdings (FRAN) announced that results for the third quarter beat estimates, as it sold higher margin products and managed its inventory better. The company earned $10.8 million, or 24 cents per share, up from $4.7 million, or 11 cents per share, in the same period last year. Revenue increased by 44 percent to $72 million. Analysts had expected the company to report earnings of 22 cents per share and revenue of $71.2 million.
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