ViaSat Inc. (VSAT) Wednesday reported a third-quarter net loss of $20.77 million or $0.47 per share, compared to earnings of $5.14 million or $0.12 per share in the same period last year. The results echoed a loss on debt extinguishment and soaring interest expenses from the prior year.
However, on an adjusted basis, the company posted earnings of $1.84 million or $0.04 per share, compared to $11.60 million or $0.26 per share in the year-ago quarter. Analysts polled by Thomson Reuters expected a loss of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.
For the latest quarter, the company saw a debt extinguishment charge of $26.5 million and higher interest expenses of $10.6 million compared with $311 thousand in the prior year quarter.
Meanwhile, total revenues for the quarter grew to $268.44 million from $204.96 million last year, while Analysts estimated revenues of $268.08 million.
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