ViaSat Inc. (VSAT) Thursday reported a fourth-quarter net income attributable to the company of $1.9 million or $0.04 per share, compared to net loss of $7.4 million or $0.17 per share in the comparable quarter last year.
On an adjusted basis, the company posted net income of $8.8 million or $0.19 per share, compared to net loss of $0.6 million or $0.01 per share in the year-ago quarter. On average, nine analysts polled by Thomson Reuters expected earnings of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, total revenues for the latest fourth quarter rose to $308.66 million from $240.54 million last year, while eight analysts estimated revenues of $285.17 million.
Separately, the company said it has executed a contract with Boeing (BA) to build ViaSat-2, which is based on ViaSat's next generation, Ka-band satellite technology and architecture.
ViaSat-2 is expected to be the world's highest capacity satellite at the time of launch, which is scheduled for mid-2016 achieving an unparalleled mix of capacity and coverage. ViaSat-2 is anticipated to approximately double the bandwidth economics of ViaSat-1 while simultaneously increasing its coverage footprint by seven-fold.
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