ViaSat’s Record Q4 Segment Growth Cuts Losses During Transition to New Satellite
ViaSat posted company-wide fourth quarter and fiscal year revenue highs of $439.7 million and $1.6 billion, respectively, but also higher costs in moving customers to its new ViaSat-3 satellite, resulting in a $19.9 million loss in the fourth quarter.
Revenues by segment saw the company’s satellite services decline 9.9 percent to $145 million, commercial networks reach $76.2 million, an increase of 28.9 percent, and government systems achieve double-digit revenue gains and 30 percent growth in underlying profit.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) by segment saw satellite services decline 59.9 percent to $30.1 million. The company’scommercial networks division reported a loss of$32.9 million, which is an improvement from a loss of$36.5 million during the previous year. ViaSat’s government systems division was up 29.0 percent to $58.4 million.
In the fiscal year 2018, commercial networks segment operating loss was higher and adjusted EBITDA was lower compared to the same period last year, while segment revenues were down 5 percent compared to the fiscal year 2017.