ViaSat Earnings: Here’s Why Investors Like These Results
ViaSat Inc. (NASDAQ:VSAT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.74%.
ViaSat Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.19 in the quarter versus EPS of $-0.01 in the year-earlier quarter.
Revenue: Rose 28.34% to $308.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ViaSat Inc. reported adjusted EPS income of $0.19 per share. By that measure, the company beat the mean analyst estimate of $0.02. It beat the average revenue estimate of $285.17 million.
Quoting Management: “We ended our fourth quarter and fiscal year 2013 with strong top line growth across all our business segments, including Government Systems despite severe budget pressures. Steady gains in Exede satellite broadband subscribers coupled with 36% growth in contract awards pushed our revenues up 30% to over the $1 billion mark in fiscal year 2013,” said Mark Dankberg, chairman and CEO of ViaSat. “We’ve passed the 500,000 subscriber milestone and are reaching important earnings inflection points. We are pleased with our progress and believe we are seeing strong confirmation of our technology strategy across each of our markets.”
Key Stats (on next page)…