ViaSat Reports $344 Million in Revenue
[Via Satellite 08-07-2015] ViaSat revenues increased by 8 percent during its first fiscal quarter of 2016 compared to the prior year period, reaching a total of $344.4 million. Likewise for the first quarter ended June 30, Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) grew nearly 30 percent Year-over-Year (YoY) to $77.5 million.
ViaSat’s revenues from satellite services grew 21 percent year over year, with the number of total consumer residential broadband subscribers reaching approximately 685,000. Quarterly gross adds were 46,300, increasing 7 percent compared to the same period last year. Weighted Average Revenue Per User (ARPU) reached a new record high of $55.79, and commercial in-flight Wi-Fi grew through new deals such as Virgin America.
The wind-down of Australia’s Ka-band infrastructure project for NBN Co resulted in a decrease in ViaSat’s commercial networks revenue, but government systems revenues increased 24 percent year over year, with segment Adjusted EBITDA growing by 35 percent.
“We’re off to a good start in fiscal year 2016 as our focus on attractive bandwidth economics delivers results in multiple applications,” said Mark Dankberg, ViaSat chairman and CEO. “This quarter, for the first time, service revenues represented over half of sales. Residential broadband leads the way, with good opportunities for sustained growth in revenues, Adjusted EBITDA and margins. With almost 1,000 aircraft in service spanning commercial, government and general aviation markets, in-flight connectivity is a significant contributor.”