VSAT FY 2006 Earnings Report — Viasat, Inc. Revenue & Financial Results | Market Cap Arena

Viasat, Inc.VSAT

FY 2006 Earnings

Reported May 30, 2007

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2006	Prior Q	FY 2005	QoQ Change	YoY Change
Revenue	$517M	—	$434M	—	19.1%
Op. Income	$35M	—	$29M	—	22.5%
Gross Margin	26.4%	—	25.0%	—	1.4pp
Net Margin	5.8%	—	5.4%	—	0.4pp
EPS (Diluted)	$0.98	—	$0.81	—	21.0%
Free Cash Flow	$51M	—	$28M	—	80.4%

Revenue Flow

Item	Amount
REVENUE	$517M
Cost of Revenue	$380M
GROSS PROFIT	$136M
R&D Expenses	$22M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$70M
Other Expenses	$10M
Operating Expenses	$101M
Cost & Expenses	$481M
OPERATING INCOME	$35M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$37M
Income Tax Expense	$7M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$27M
EBIT	$35M
EBITDA	$62M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$517M
Cost of Revenue	$380M
GROSS PROFIT	$136M
R&D Expenses	$22M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$70M
Other Expenses	$10M
Operating Expenses	$101M
Cost & Expenses	$481M
OPERATING INCOME	$35M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$37M
Income Tax Expense	$7M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$30M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$30M
D&A	$27M
EBIT	$35M
EBITDA	$62M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$30M
Depreciation & Amortization	$27M
Stock-Based Compensation	$5M
Deferred Income Tax	-$10M
Other Non-Cash Items	-$1M
Change in Working Capital	$16M
OPERATING CASH FLOW	$67M
Capital Expenditure	-$15M
Acquisitions (Net)	-$8M
Purchases of Investments	$0
Sales/Maturities of Investments	$117.0K
Other Investing Activities	$0
NET CASH FROM INVESTING	-$23M
Net Debt Issuance	$5M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$3M
NET CASH FROM FINANCING	$23M
FREE CASH FLOW	$51M
Net Change in Cash	$67M

Balance Sheet

Item	Amount
Cash & Equivalents	$103M
Short-Term Investments	$47.0K
Net Receivables	$140M
Inventory	$46M
Other Current Assets	$11M
TOTAL CURRENT ASSETS	$308M
PP&E (Net)	$51M
Goodwill	$66M
Intangible Assets	$37M
Long-Term Investments	$0
Tax Assets	$13M
Other Non-Current Assets	$8M
TOTAL NON-CURRENT ASSETS	$176M
TOTAL ASSETS	$484M
Account Payables	$44M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$15M
TOTAL CURRENT LIABILITIES	$121M
Long-Term Debt	$4M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$9M
TOTAL NON-CURRENT LIABILITIES	$13M
TOTAL LIABILITIES	$134M
Common Stock	$3.0K
Additional Paid-In Capital	$233M
Retained Earnings	$116M
Treasury Stock	$0
Accum. Other Comp. Income	$130.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$349M
Minority Interest	$1M
TOTAL EQUITY	$350M
TOTAL LIABILITIES & EQUITY	$484M
Total Debt	$4M
Net Debt	-$99M