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Thu, Mar. 13, 1:25 PM
- Gogo (GOGO -7.9%) expects 2014 revenue of $400M-$422M vs. a $414.2M consensus. North American commercial aviation revenue is expected to total $240M-$250M, business aviation (BA) revenue $157M-$167M, and international commercial aviation just $3M-$5M.
- The company expects 2014 cash capex of $105M-$125M, up from a 2013 level of $104.3M and a 2012 level of $57.6M. Adjusted EBITDA guidance is at $8M-$18M.
- Gogo had 2,032 NA commercial aircraft online at the end of Q4, up from 2,011 at the end of Q3 and 1,811 a year ago. BA satellite aircraft rose to 5,175 from 5,127 in Q3, and air-to-ground (ATG) aircraft rose to 2,047 from 1,847.
- Average monthly revenue per NA commercial aircraft was $8,970, up from $8,338 in Q3 and $7,400 a year ago. Average revenue/session fell to $10.29 from $10.63 in Q3, but connectivity take rate rose to 6.9% from 5.8%.
- Average monthly business service revenue per aircraft was $162 for satellite (up from $154 in Q3), and $2,047 for ATG (up from $1,958). 167 satellite and 248 ATG units were respectively shipped, down from 172 and 260 in Q3.
- Total service revenue rose 44% Y/Y to $69.7M, and equipment revenue 53% to $22.9M. Costs/expenses rose 46% to $106.7M.
- Q4 results, PR
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Country: United States
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