ViaSat Reports Solid Growth in 2009
May 18, 2009
ViaSat fourth quarter revenues grew 12 percent to $165.6 million, beating its own expectations and setting the company up for sustainable growth, ViaSat CEO Mark Dankberg said during the company’s fourth quarter and full-year financial results, released May 15.
“Our 12 percent fiscal fourth quarter earnings growth was nearly all operations-driven, as a lower tax rate and lower interest income largely offset each other at the net income line. With an objective of 10 percent revenue and EPS growth for fiscal year 2010 supported by record backlog and unusually robust new proposal activity, we think ViaSat’s steady and attractive growth potential in our core businesses is noteworthy in this difficult macroeconomic period,” said Dankberg, in a statement.
ViaSat Satellite Services segment contributed revenues increased 26 percent to $2.2 million during the quarter, and 27.6 percent to $8.7 million for the year, driven by managed broadband services. The company’s government systems unit posted record quarterly and annual revenues of $109.0 million and $388.7 million, respectively, a 29.5 percent increase over its fourth quarter 2008 and a 21.6 percent increase over the prior year.
ViaSat did see a decrease in its commercial networks segment – down 11.6 percent to $54.5 million for the quarter, and 7 percent down to $230.8 million for the year.
May 18, 2009
ViaSat fourth quarter revenues grew 12 percent to $165.6 million, beating its own expectations and setting the company up for sustainable growth, ViaSat CEO Mark Dankberg said during the company’s fourth quarter and full-year financial results, released May 15.
“Our 12 percent fiscal fourth quarter earnings growth was nearly all operations-driven, as a lower tax rate and lower interest income largely offset each other at the net income line. With an objective of 10 percent revenue and EPS growth for fiscal year 2010 supported by record backlog and unusually robust new proposal activity, we think ViaSat’s steady and attractive growth potential in our core businesses is noteworthy in this difficult macroeconomic period,” said Dankberg, in a statement.
ViaSat Satellite Services segment contributed revenues increased 26 percent to $2.2 million during the quarter, and 27.6 percent to $8.7 million for the year, driven by managed broadband services. The company’s government systems unit posted record quarterly and annual revenues of $109.0 million and $388.7 million, respectively, a 29.5 percent increase over its fourth quarter 2008 and a 21.6 percent increase over the prior year.
ViaSat did see a decrease in its commercial networks segment – down 11.6 percent to $54.5 million for the quarter, and 7 percent down to $230.8 million for the year.