Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
AVAV > SEC Filings for AVAV > Form 8-K on 30-May-2013All Recent SEC Filings

Show all filings for AEROVIRONMENT INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for AEROVIRONMENT INC


30-May-2013

Costs Associated with Exit or Disposal Activities


Item 2.05. Costs Associated with Exit or Disposal Activities

On May 29, 2013, AeroVironment, Inc. (the "Company") implemented an organizational realignment and workforce reduction.

The purpose of the organizational realignment within the Company's Unmanned Aircraft Systems (UAS) and Efficient Energy Systems (EES) business segments is to enhance the Company's focus on new product introductions and the adoption of new solutions designed to support the Company's long-term growth plans.

The workforce reduction is in response to continued delays in U.S. government procurements from the Company's UAS business segment and to delays in the growth of plug-in electric vehicle adoption and associated recharging solution sales in the Company's EES business segment.

The cost of the organizational realignment and workforce reduction is estimated to be approximately $1.1 million, consisting primarily of severance payments. The Company expects to record this charge in its fiscal first quarter ending July 27, 2013.

This Item 2.05 contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. All statements contained in this Item 2.05, other than statements that are purely historical, are forward-looking statements, which can be identified by the use of forward-looking terminology such as the words "expects," "estimates," "intends" and similar expressions, including statements regarding the Company's estimates of the amount and timing of charges related to the organizational realignment and workforce reduction. Such forward-looking statements are based upon management's current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, events or developments to be materially different from those indicated in such forward-looking statements. The Company does not intend, and undertakes no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.


  Add AVAV to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for AVAV - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.