Organization and Significant Accounting Policies (Tables)

6 Months Ended

Oct. 26, 2019

Organization and Significant Accounting Policies

Schedule of revenue by category

	Three Months Ended				Six Months Ended
	October 26,		October 27,		October 26,		October 27,
Revenue by major product line/program	2019		2018		2019		2018
Small UAS	$	59,157	$	42,199	$	125,903	$	83,415
TMS		7,924		15,019		13,511		37,785
HAPS		13,393		12,832		25,728		24,395
Other		2,797		2,929		5,040		5,427
Total revenue	$	83,271	$	72,979	$	170,182	$	151,022

	Three Months Ended				Six Months Ended
	October 26,		October 27,		October 26,		October 27,
Revenue by contract type	2019		2018		2019		2018
FFP	$	60,518	$	50,054	$	128,462	$	108,057
CPFF		21,257		22,870		39,521		42,853
T&M		1,496		55		2,199		112
Total revenue	$	83,271	$	72,979	$	170,182	$	151,022

Each of these contract types presents advantages and disadvantages. Typically, the Company assumes more risk with FFP contracts. However, these types of contracts generally offer additional profits when the Company completes the work for less than originally estimated. CPFF contracts generally subject the Company to lower risk. Accordingly, the associated base fees are usually lower than fees on FFP contracts. Under T&M contracts, the Company’s profit may vary if actual labor hour rates vary significantly from the negotiated rates.

	Three Months Ended				Six Months Ended
	October 26,		October 27,		October 26,		October 27,
Revenue by customer category	2019		2018		2019		2018
U.S. government:	$	50,302	$	46,941	$	99,436	$	82,849
Non-U.S. government		32,969		26,038		70,746		68,173
Total revenue	$	83,271	$	72,979	$	170,182	$	151,022
	Three Months Ended				Six Months Ended
	October 26,		October 27,		October 26,		October 27,
Revenue by geographic location	2019		2018		2019		2018
Domestic	$	49,965	$	46,726	$	88,773	$	82,078
International		33,306		26,253		81,409		68,944
Total revenue	$	83,271	$	72,979	$	170,182	$	151,022

Schedule of reconciliation of basic to diluted shares

The reconciliation of basic to diluted shares is as follows (in thousands except share data):

		Three Months Ended				Six Months Ended
Income from	October 26, 2019		October 27, 2018		October 26, 2019		October 27, 2018
Continuing operations attributable to AeroVironment	$	7,501	$	7,047	$	24,611	$	27,384
Discontinued operations, net of tax		—		(990)		—		6,003
Net income attributable to AeroVironment	$	7,501	$	6,057	$	24,611	$	33,387
Denominator for basic earnings per share:
Weighted average common shares		23,804,364		23,667,400		23,775,355		23,621,720
Dilutive effect of employee stock options, restricted stock and restricted stock units		257,446		431,433		288,420		437,674
Denominator for diluted earnings per share		24,061,810		24,098,833		24,063,775		24,059,394