Business
Viasat Announces Third Quarter Fiscal Year 2020 Results
- Third quarter fiscal year 2020 marked another quarter of strong performance: revenues totaled $588.2 million, net income and non-GAAP net income increased
About this update from Viasat, Inc.
[{"type":"text","content":"- Third quarter fiscal year 2020 marked another quarter of strong performance: revenues totaled $588.2 million, net income and non-GAAP net income increased to $6.5 million and $24.7 million, respectively, and Adjusted EBITDA reached an all-time high of $122.3 million on a 13% year-over-year increase\n - Awards grew 29% to $577.4 million for the quarter, reflecting continued momentum across the Company's government, U.S. fixed broadband and commercial aviation businesses\n - Both the Satellite Services and Government Systems segments posted impressive quarterly and year-to-date revenue gains, with Satellite Services reaching a quarterly revenue record of $211.7 million and Government Systems delivering $291.8 million, a year-over-year increase of 19% and 17%, respectively\n\n\nCARLSBAD, Calif., Feb. 6, 2020 /PRNewswire/ -- Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced financial results for the fiscal third quarter ended December 31, 2019.\n\"We achieved another quarter of solid revenue growth and margin improvement in our Q3 of fiscal year 2020,\" said Mark Dankberg, Viasat chairman and CEO. \"We're building on a differentiated foundation of business fundamentals in our government systems and satellite services segments. New contract awards and backlog signal continued momentum, and build confidence in a strong finish to our fiscal year 2020 and on into fiscal year 2021. We believe our unique vertical technology and service delivery integration creates compelling long-term opportunities for global expansion. Growth drivers for our government business are in the early innings and are substantially enhanced by global coverage. Our diverse portfolio of fixed and mobile broadband satellite services gives us the flexibility and resilience to thrive in the distinct market environments of each region of the world. We see enormous demand for bandwidth. We're confident in our strategic approach and are focused on executing the opportunities before us, and delivering the ViaSat-3 constellation into service.\" \nFinancial Results\n(In millions, except per share data)\nQ3 FY20\nQ3 FY19\nYear-Over-Year Change\nFirst 9 MonthsFY20\nFirst 9 MonthsFY19\nYear-Over-Year Change\nRevenues\n$588.2\n$554.7\n6%\n$1,717.5\n$1,511.0\n14%\nNet income (loss)1 \n$6.5\n($10.4)\n*\n($1.8)\n($70.1)\n(97)%\nNon-GAAP net income (lo...