- ViaSat (NASDAQ:VSAT) has posted Q1 earnings that beat expectations despite a wider loss as the company invested further in its ViaSat-2 infrastructure.
- Revenue gains were broad (though commercial networks revenue doubled), and profitability fell in government systems (and fell sharply in satellite services).
- "All segments contributed to 15% year-over-year revenue growth and even stronger 29% year-over-year new contract awards growth, which together build confidence in sustained or accelerating growth for the fiscal year as a whole," says CEO Mark Dankberg.
- New contract awards rose to $569.7M.
- Revenue breakout: Product, $218.1M (up 31.3%); Service, $220.7M (up 3.2%).
- Revenue by segment: Satellite services, $153.6M (up 0.9%); Commercial networks, $95.1M (up 110.1%); Government systems, $190.2M (up 4.2%).
- Press release