ViaSat Reports Record-Breaking Fiscal 2004
ViaSat Inc. [VSAT] is touting a record-breaking 2004 when it comes to revenues and net income. For fiscal 2004, which ended April 2, the company reported revenues and net income of $278.6 million and $13.2 million, respectively. In fiscal 2003, the company reported revenues of $185 million and a net loss of $9.6 million. The company attributed the record year to several new contract awards, to progress in the company’s Broadband Systems group, and to an increase in year-over-year VSAT sales.
For the just-ended fourth quarter, ViaSat reported revenues of $83.2 million and a net income of $3.8 million, compared to revenues of $53.7 million and a net loss of $1.3 million earned during the same period one year ago.
In a prepared statement, CEO Mark Dankberg said, “Our substantial backlog, continued strong order flow in both the commercial and government markets, wealth of funded [research and development], strong balance sheet and roster of new products all contribute to our confidence in achieving another record year in fiscal 2005.”