NEW YORK (TheStreet) -- Shares of AeroVironment (AVAV - Get Report) were down -4.9% to $32.01 in after-hours trading on Wednesday after missing analysts' estimates for earnings in the fiscal first quarter.

The company reported a loss of -18 cents a share for the first quarter, missing the Capital IQ Consensus Estimate of a loss of -9 cents a share by 9 cents. Revenue grew 17.6% year over year to $51.9 million for the quarter. Analysts expected revenue of $50.7 million for the quarter.

AeroVironment reported a funded backlog of $82 million as of August 2, compared to a backlog of $65.9 million as of April 30.

Looking forward to fiscal 2015, AeroVironment expects revenue of between $250 million and $270 million for the year, and gross profit margins of 34.5% to 37.5%.

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TheStreet Ratings team rates AEROVIRONMENT INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate AEROVIRONMENT INC (AVAV) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good."

You can view the full analysis from the report here: AVAV Ratings Report

AVAV Chart AVAV data by YCharts

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