Seeking Alpha

ViaSat -6.5% on FQ4 miss, commercial slowdown

  • ViaSat (VSAT -6.5%) commercial network revenue grew 15% Y/Y in FQ4 to $96.1M, a marked slowdown from FQ3's 34% growth. Moreover, rising investments led the division's adjusted EBITDA to fall to just $1.9M.
  • At the same time, satellite services revenue (consumer-driven) rose 35% Y/Y to $105.9M vs. 37% in FQ3. The division had adjusted EBITDA of $25.5M (up over 2x Y/Y), and consumer broadband subs rose by 21K Q/Q to 641K.
  • Government revenue fell 3% to $142M (nearly even with FQ3's decline) thanks to the completion of ViaSat's Blue Force Tracking bandwidth contract. Adjusted EBITDA was a healthy $30.2M.
  • ViaSat also disclosed it spent nearly $25M in FY14 on legal expenses. Last month, the company won a $283M jury verdict for its IP/breach of contract suit against Loral (LORL -0.7%).
  • Wells Fargo's pre-earnings upgrade wasn't well-timed.
  • FQ4 results, PR
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs