* Q2 EPS $0.10 vs est $0.05 * Rev down 22 pct * Backs full-year rev growth outlook
* Shares up 4 percent in extended trade
Dec 8 - Drone-maker AeroVironment Inc posted better-than-expected quarterly profit, as revenue from contract services slightly offset the drop in product sales, and it backed its full-year forecast for revenue growth.
The company, which continues to expect revenue growth of 18 percent to 22 percent for the full year, said it had the ability to meet the strong customer demand for digital raven systems during the second half of 2010 and beyond.
For the second quarter, net income fell to $2.2 million, or 10 cents a share, from $9.1 million or 41 cents a share, a year ago.
Revenue fell 22 percent to $51.4 million, as product sales nearly halved. Revenue from contract services, however, rose 13 percent to $32.2 million.
Analysts were expecting earnings of 5 cents a share, before special items, on revenue of $52.5 million, according to Thomson Reuters I/B/E/S.
The company said as of Oct. 31, funded backlog was $107.1 million.
Shares of the company were up 4 percent in after-hours trading. They closed at $28.93 Tuesday on Nasdaq. (Reporting by Divya Sharma in Bangalore; Editing by Anil D'Silva)