– First quarter of fiscal 2017 marked another quarter of growth with revenues of $363.1 million and strong operating cash flow
– Sustained momentum in ViaSat’s Satellite Services segment, with record revenues for the fourth consecutive quarter and continued margin expansion
– Growth in government mobility and Wi-Fi services revenues drove operating profit and Adjusted EBITDA in ViaSat’s Government Systems segment
– High-profile aero mobile wins in the quarter included: American Airlines, Air Force One and other U.S. Government senior leader aircraft
– ViaSat-2 satellite successfully completed functional testing; proceeding through environmental stress testing
CARLSBAD, Calif., Aug. 9, 2016 /PRNewswire/ — ViaSat Inc. (NASDAQ: VSAT), a global broadband services and technology company, today announced financial results for the fiscal first quarter ended June 30, 2016.
“Our financial results for the first quarter of fiscal 2017 show continued strong demand in satellite services and sustained growth in our government segment,” said Mark Dankberg, ViaSat chairman and CEO. “New aeronautical services contracts with American Airlines and the U.S. government highlight the unique and compelling competitive advantages of affordable, high bandwidth mobility services. Almost five years after launch, ViaSat-1 is delivering record earnings and margins, while also delivering benchmark performance. We are investing in R&D and capital resources to scale this formula through new technology, delivering even more bandwidth-efficient satellites and expansion, to regional, and then global markets. The upcoming launch of ViaSat-2 gives us an opportunity to extend our competitive advantage for sustained growth in residential broadband, mobile WiFi, aeronautical and maritime applications in both commercial and government markets.”