ViaSat Inc. (NASDAQ: VSAT) said its fiscal year 2014 results reflected strong growth.
Revenues increased 21 percent to USD1.4bn and adjusted EBITDA grew 35 percent to USD221.2m compared to last year. Net income attributable to ViaSat common stockholders rose to USD0.44 per share on a non-GAAP diluted basis, or a loss of USD0.21 per share on a diluted GAAP basis – compared to fiscal year 2013 net income of USD0.02 and a loss of USD0.94 per share, respectively.
Revenues for the fourth quarter increased 11 percent to USD343.9m and Adjusted EBITDA hit record levels, growing 41 percent to USD57.4m for the fourth quarter of fiscal year 2014 compared to the same period last year. New contract awards doubled to USD454.0m for the quarter compared to the same period last year. Non-GAAP diluted net income attributable to ViaSat common stockholders was USD0.10 per share, or a loss of USD0.08 per share on a diluted GAAP basis compared to net income of USD0.19 and USD0.04 per share, respectively, for the fourth quarter of fiscal year 2013.
ViaSat delivers fast, secure communications, Internet, and network access to virtually any location for consumers, governments, enterprises, and the military. Based in Carlsbad, California, ViaSat employs over 3,100 people in a number of locations worldwide for technology development, customer service, and network operations.