Business
Gogo Provides Preliminary First Quarter 2019 Financial Results
CHICAGO, April 15, 2019 /PRNewswire/ -- Gogo (NASDAQ: GOGO), the leading global provider of broadband connectivity products and services for aviation,
About this update from Gogo Inc.
[{"type":"text","content":"CHICAGO, April 15, 2019 /PRNewswire/ -- Gogo (NASDAQ: GOGO), the leading global provider of broadband connectivity products and services for aviation, announces the following preliminary first quarter 2019 financial results:\nConsolidated revenue of $197 million to $200 million Consolidated net loss of $17 million to $20 million Adjusted EBITDA of $35 million to $38 million Net loss and Adjusted EBITDA both include the benefit of approximately $7 million in project-related revenue for an airline customer and $4 million of delayed timing of expense items Total cash and cash equivalents at March 31, 2019 of approximately $188 million, reflecting $46 million in semi-annual interest payments made by the Company during the quarter \"The combination of better than expected Commercial Aviation service revenue and lower than expected overall operating and satcom costs contributed to our much better than expected preliminary Adjusted EBITDA in the first quarter,\" said Oakleigh Thorne, President and CEO of Gogo. \"Our focus on cost management and operational execution continues to drive financial momentum.\"\nThe Company will release its complete financial results for the first quarter of 2019 before the market opens on May 9, 2019, and will host a conference call with financial analysts the same day at 8:30 a.m. (ET).\nCautionary Statement Regarding Preliminary Results for the First Quarter of 2019\nThe expected first quarter 2019 results are preliminary, unaudited and subject to completion, reflect management's current views and may change as a result of management's review of results and other factors, including a wide variety of significant business, economic and competitive risks and uncertainties. Such preliminary results are subject to the closing of the first quarter of 2019 and finalization of first quarter accounting and reporting procedures, which have yet to be performed, and should not be viewed as a substitute for full quarterly financial statements prepared in accordance with accounting principles generally accepted in the U.S. (\"GAAP\"). We caution that the preliminary first quarter 2019 results are not guarantees of future performance or outcomes and that actual results may differ materially from those described above. Factors that could cause actual results to differ from those described above are set forth in the Comp...