ViaSat Announces 3rd Quarter FY 2014 Results

Mark Derkberg, CEO of ViaSat. Photo: ViaSat

[Via Satellite 02-14-2014] ViaSat announced its financial results for the third quarter of fiscal year 2014. The company’s revenues increased by 16 percent to $332.6 million, and the adjusted EBITDA grew 17 percent to $56.7 million for the third quarter.

The fiscal year-to-date results showed strong growth, with revenues increasing 24 percent to $1 billion.

“We are very pleased with the balance in our third quarter and year-to-date results,” said Mark Dankberg, chairman and CEO of ViaSat. “We’ve maintained double-digit revenue and Adjusted EBITDA growth, and substantially increased discretionary investments to defend and extend our technology lead in fixed and mobile satellite broadband networks. The launch of Exede In The Air via JetBlue‘s Fly-Fi service is an exciting example of opportunities uniquely enabled by our satellite network assets and innovative technologies.”

ViaSat’s satellite services reported revenues of $98.6 million, which is an increase of 37 percent year-over-year. The company ended the year with almost 620,000 consumer broadband subscribers and performed more than 85,000 installations.

The ViaSat’s commercial networks segment reported $91.9 million in revenues, an increase of 34 percent from last year, while the government systems segment reported revenue of $142 million, decreasing by $4 million from last year.