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BUSINESS NEWS

July 1, 2012 by

26 Jun 12. AeroVironment, Inc. (NASDAQ: AVAV) reported financial results for its fourth quarter and fiscal year ending April 30, 2012. Revenue for the fourth quarter of fiscal 2012 was $110.7m, up 4% over fourth quarter fiscal 2011 revenue of $106.1m. The increase in revenue resulted from increased sales in our Unmanned Aircraft Systems (UAS) segment of
$6.4m offset by decreased sales in our Efficient Energy Systems (EES) segment of $1.8m. Income from operations for the fourth quarter of fiscal 2012 was $25.7m, an increase of $0.566m from fourth quarter fiscal 2011 income from operations of $25.2m. The increase in income from operations resulted from higher gross margin of $0.3m and lower research and development (R&D) expense of $3.9m offset by higher selling, general and administrative (SG&A) expense of $3.7m. Net income for the fourth quarter of fiscal 2012 was $17.8m, an increase of $0.2m from fourth quarter fiscal 2011 net income of $17.6m. Earnings per diluted share for the fourth quarter of fiscal 2012 were $0.80, an increase of $0.01 from fourth quarter fiscal 2011 earnings per diluted share of $0.79. Revenue for fiscal 2012 was $325.0m, up 11% from fiscal 2011 revenue of $292.5m. The increase in revenue resulted from increased sales in our UAS segment of $24.0m and EES segment of $8.5m. Income from operations for fiscal 2012 was $43.1m, an increase of $9.1m from fiscal 2011 income from operations of $34.0m. The increase in income from operations was caused by higher gross margin of $12.2m and lower R&D expense of $4.8m offset by higher SG&A expense of $7.9m. Net income for fiscal 2012 was $30.5m, an increase of $4.6m from fiscal 2011 net income of $25.9m. 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. As of April 30, 2012, funded backlog (unfilled firm orders for which funding is currently appropriated to us under a customer contract) was $93.2m compared to $82.9m as of April 30, 2011. For fiscal year 2013, the Company expects to generate revenue of $348m to $370m, and earnings per share of $1.41 to $1.51 on a fully diluted basis.

27 Jun 12. FalconStor Software, Inc. (FALC), a leader in disk-based data protection solutions, has reached settlements with the United States Attorney’s Office for the Eastern District of New York (USAO) and the Securities and Exchange Commission (SEC). These parallel settlements resolve the government’s investigations into improper payments made to a FalconStor customer. The agreed-upon payments to settle these investigations total $5.8m, for which the Company has previously reserved within its consolidated financial statements. The Company entered into a Deferred Prosecution Agreement (DPA) with the USAO. Under the DPA, the USAO agrees that it will defer prosecution of the Company in connection with the matter, and ultimately not prosecute the Company if the Company satisfies its obligations during the 18 month term of the DPA. The DPA acknowledges the remedial actions taken by the Company in response to its discovery of the improper payments and does not require the Company to make any additional control or compliance changes. Under the DPA, the Company will forfeit $2.9m over eighteen months, of the $5.8m combined settlement payments. The Company agreed with the SEC to the entry of a Consent Judgment (CJ) to settle a civil action filed by the SEC. Pursuant to the CJ, the Company agreed not to violate the anti-fraud and registration provisions of Sections 17(a)(2), 5(a) and 5(c) of the Securities Act of 1933, and the books and records provisions of Sections 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934. The Company further agreed to pay a civil penalty of $2.9m to the SEC, of the $5.8m combined settlement payments. (Source: BUSINESS WIRE)

28 Jun 12. Rohde & Schwarz strengthens its position in the drive test market by acquiring SwissQual. Rohde & Schwarz integrates SwissQual, a

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