ViaSat Sees Revenue Increase in Government Business, Decrease in Commercial
[Satellite Today 11-06-08] ViaSat said it has set a record in new contract awards with a combined net value of $255.5 million, pushing its sales backlog above $523 million, the company announced Nov. 6 in its second quarter 2009 report.
The company also said it saw record revenues of $159.3 million, and non-GAAP diluted net income per share of 39 cents or 29 cents per share on a diluted GAAP basis.
ViaSat reported net new year-to-date contract awards of $461.4 million, total revenues of $312.2 million and non-GAAP diluted net income per share of 68 cents or 49 cents per share on a diluted GAAP basis.
“Certainly, the strong new order flow improves visibility and confidence in our growth outlook in what might otherwise be an uncertain environment. Plus, we are enthusiastic about the longer term strategic significance of recent awards and program achievements in information assurance, defense satellite communications, and both consumer and mobile broadband,” said Mark Dankberg, CEO and chairman of ViaSat.
ViaSat said its government systems segment posted record quarterly revenues of $97.3 million, a 21.9 percent increase over the second quarter of fiscal year 2008 and attributed the growth to higher revenues for information assurance development programs, next generation military satellite communication systems and video data link systems and higher sales of information assurance products. Contract awards in the government segment were $157.3 million.
The company’s commercial networks segment saw a 9.1 percent decrease in revenue from the second quarter of fiscal year 2008 at $59.2 million.
ViaSat said the revenue decrease was primarily due to lower sales of its consumer broadband and enterprise VSAT product sales. New contract awards in its commercial networks segment were $94.1 million.