ViaSat Posts Record Quarter, Fiscal Year

[Satellite News – 5-14-08] ViaSat Inc. posted gains in revenue and net income for both the fourth quarter of 2008 and its fiscal year, the company announced May 13.
    ViaSat reported revenues of $147.4 million for the quarter, an 12 percent increase over $132 million in the fourth quarter of 2007. The company also posted net income of $10.5 million for the quarter, a 22 percent increase over $8.6 million in 2007.
    For the year, ViaSat reported an 11 percent increase in revenues, compared to $516.6 million to $574.7 million. Net income rose 11 percent, from $30.2 million in 2007 to $33.5 million in 2008.
    “ViaSat completed another growth year in fiscal year 2008, with new records in earnings, revenues and orders,” Mark Dankberg, CEO and chairman of ViaSat, said in a statement. “New orders in the fourth quarter were lower than planned, attributable to timing of specific defense programs; however, the company’s award volume in early fiscal year 2009 has been excellent and puts us on track to overcome the shortfall.”