ViaSat Pulls in Earnings of $5.1MFriday, February 10, 2012
Carlsbad-based satellite communications company ViaSat Inc. reported net income of $5.1 million on revenue of $205 million during its third quarter, which ended Dec. 30. Chairman and CEO Mark Dankberg said in a statement issued Feb. 6 that a delay in the launch of its ViaSat-1 satellite weighed on earnings.
In the same quarter one year ago, ViaSat reported greater net income, of $12.9 million, on slightly less revenue, $195.9 million.
ViaSat reported that revenue from its Commercial Networks segment increased 39.4 percent in the third quarter, to $54.4 million. Driving the growth was increased sales of antenna systems products, satellite payload technology development programs, consumer broadband products and mobile broadband satellite communication systems. Decreased sales of enterprise networks and products offset the gains.
Revenue from the Government Systems segment decreased 2.8 percent to $94.9 million.
Revenue from the Satellite Services segment decreased 6.2 percent to $55.7 million.
The firm also announced that it received new contract awards of $211.9 million. Its sales backlog stood at $575.3 million.
Company stock trades on Nasdaq as VSAT.
— Brad Graves