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Gogo +11.8% after Q4 beat on solid sales growth

Feb. 27, 2017 9:24 AM ETGogo Inc. (GOGO) StockBy: Jason Aycock, SA News Editor5 Comments
  • Gogo (NASDAQ:GOGO) is up 11.8% premarket after posting Q4 earnings where it beat on top and bottom lines and boosted expectations for 2017 installations.
  • Revenues grew 16% and its net loss narrowed while EBITDA grew 187% to a record $23.1M.
  • The company's 2Ku base covers more than 130 aircraft, and Gogo is increasing installation guidance to 450-550 aircraft in 2017, and 650-750 in 2018.
  • That should help the company to become free cash flow positive in 2019, a year earlier than guided, says CFO Norman Smagley. It's also guiding to 2017 revenue of $670M-$695M (growth of 12-17%, and above consensus for $662M) and EBITDA of $60M-$75M, below an expected $77.9M.
  • Revenue breakout: Service, $138.9M (up 19.8%); Equipment, $21.1M (down 3.4%).
  • Total revenue by segment: Commercial Aviation-North America, $101.1M; CA-Rest of World, $7.4M; Business Aviation, $51.5M. Profit by segment: CA-NA, $24.9M; CA-ROW, -$24.7M; BA, $22.98M
  • Earnings slides
  • Press Release

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