ViaSat (VSAT) Tops Q3 EPS by 52c, Revenues Beat
ViaSat (NASDAQ: VSAT) reported Q3 EPS of $0.12, $0.52 better than the analyst estimate of ($0.40). Revenue for the quarter came in at $554.7 million versus the consensus estimate of $485.75 million.
"We are continuing to execute on our objective of converting prior growth investments in advanced networking capabilities, aviation type approvals, new geographic markets and the ViaSat-2 satellite and network infrastructure into strong revenue and Adjusted EBITDA gains in fiscal year 2019 and beyond," said Mark Dankberg, Viasat chairman and CEO. "Third quarter revenue and Adjusted EBITDA surged as we executed on our substantial new contract awards for our latest generation commercial IFC and government networking products. Many of those product shipments translate directly or indirectly to ongoing services revenue in future periods. Satellite services revenues reached record levels on an expanding set of vertical markets, and generated significant earnings gains compared to the prior year period, as well as this fiscal year's second quarter. Record year-to-date new contract awards and a favorable book-to-bill ratio, combined with nascent offerings in attractive growth markets, indicate opportunities for sustained revenue and Adjusted EBITDA growth through the balance of fiscal year 2019, into fiscal year 2020, and beyond."
For earnings history and earnings-related data on ViaSat (VSAT) click here.