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AeroVironment tops expectations and closes out its fiscal year with record bookings

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Summary
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AeroVironment is a manufacturer of small-to-midsized military-grade unmanned aerial vehicles (UAVs) The company's products have demonstrated their value on the battlefield in Ukraine .

The company closed the year with $1.2 billion in total bookings, creating a solid pipeline of future revenue.

The stock trades at 63 times expected earnings, well above the 17 to 20 times range of more established defense contractors.