Tuesday ViaSat released its First Quarter Fiscal Year 2014 Results showing 45 percent increase in satellite services revenue and total revenue for the quarter of $321.1 million, a 33 percent increase compared to the same period last year.
“We’re proud to have achieved our sixth consecutive quarter of record revenue,” said Mark Dankberg, chairman and CEO of ViaSat. “Broadband satellite services are leading the way, but growth was again strong throughout the company. EBITDA surged 78 percent compared to this quarter last year due to the cumulative effect of Exede subscriber and ARPU growth, continued strength in government systems despite the challenging federal spending environment, and solid performance in commercial products. Earnings are growing even while we are almost doubling R&D investments as we pursue opportunities for growth. We launched Exede VoIP, are close to bringing Exede in-flight Wi-Fi into service, and are building on our achievements in government mobile broadband. In addition, with ViaSat-2 now on the horizon, we’re cultivating even more opportunities to expand global markets for satellite broadband services and technology.”
ViaSat said its launch of Exede Voice makes it the first satellite Internet service provider to offer U.S. residential VoIP telephone service. Other 1Q 2014 highlights include an agreement with Boeing Commercial Airplanes to offer ViaSat Ka-band airborne satellite terminals as a factory line-fit option on Boeing Commercial aircraft, two new premium classes of its Yonder high-speed Internet service for business aviation, a $6.8 million order for communications encryption products from a U.S. government customer, and start of manufacturing of ViaSat-2.
While not mentioned in the earning release, ViaSat offers video IP connectivity to broadcasters looking for an easy way to add satellite capability to ENG vans.
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