Press Release

Feb 06, 2020



Viasat Announces Third Quarter Fiscal Year 2020 Results


- Third quarter fiscal year 2020 marked another quarter of strong performance: revenues totaled $588.2 million, net income and non-GAAP net income increased to $6.5 million and $24.7 million, respectively, and Adjusted EBITDA reached an all-time high of $122.3 million on a 13% year-over-year increase
- Awards grew 29% to $577.4 million for the quarter, reflecting continued momentum across the Company's government, U.S. fixed broadband and commercial aviation businesses
- Both the Satellite Services and Government Systems segments posted impressive quarterly and year-to-date revenue gains, with Satellite Services reaching a quarterly revenue record of $211.7 million and Government Systems delivering $291.8 million, a year-over-year increase of 19% and 17%, respectively

CARLSBAD, Calif., Feb. 6, 2020 /PRNewswire/ -- Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced financial results for the fiscal third quarter ended December 31, 2019.


"We achieved another quarter of solid revenue growth and margin improvement in our Q3 of fiscal year 2020," said Mark Dankberg, Viasat chairman and CEO. "We're building on a differentiated foundation of business fundamentals in our government systems and satellite services segments. New contract awards and backlog signal continued momentum, and build confidence in a strong finish to our fiscal year 2020 and on into fiscal year 2021. We believe our unique vertical technology and service delivery integration creates compelling long-term opportunities for global expansion. Growth drivers for our government business are in the early innings and are substantially enhanced by global coverage. Our diverse portfolio of fixed and mobile broadband satellite services gives us the flexibility and resilience to thrive in the distinct market environments of each region of the world. We see enormous demand for bandwidth. We're confident in our strategic approach and are focused on executing the opportunities before us, and delivering the ViaSat-3 constellation into service."


Financial Results









(In millions, except per share data)


Q3 FY20


Q3 FY19


Year-Over-
Year
Change


First 9
Months
FY20


First 9
Months
FY19


Year-Over-
Year
Change




Revenues


$588.2


$554.7


6%


$1,717.5


$1,511.0


14%



Net income (loss)1 


$6.5


($10.4)


*


($1.8)


($70.1)


(97)%



Non-GAAP net income (loss)1 


$24.7


$6.9


256%


$52.0


($19.5)


*



Adjusted EBITDA


$122.3


$108.7


13%


$337.3


$231.1


46%



Diluted per share net income (loss)1


$0.10


($0.17)


*


($0.03)


($1.17)


(97)%



Non-GAAP diluted per share net income (loss)1


$0.39


$0.12


225%


$0.83


($0.33)


*



Fully diluted weighted average shares2


62.9


60.2


5%


61.4


59.7


3%











New contract awards3


$577.4


$448.6


29%


$1,775.5


$1,756.9


1%



Sales backlog4


$1,923.7


$1,827.8


5%


$1,923.7


$1,827.8


5%











Segment Results









(In millions)


Q3 FY20


Q3 FY19


Year-Over-
Year
Change


First 9
Months
FY20


First 9
Months
FY19


Year-Over-
Year
Change




Satellite Services









  New contract awards3


$210.7


$185.4


14%


$615.3


$503.6


22%



  Revenues


$211.7


$177.7


19%


$614.2


$494.2


24%



  Operating profit (loss)5


$3.6


($10.2)


*


$6.6


($65.0)


*



  Adjusted EBITDA


$75.1


$56.7


33%


$212.9


$130.8


63%











Commercial Networks









  New contract awards


$134.2


$107.4


25%


$295.3


$344.7


(14)%



  Revenues


$84.7


$127.0


(33)%


$251.7


$336.6


(25)%



  Operating loss5


($46.9)


($31.2)


50%


($143.6)


($117.4)


22%



  Adjusted EBITDA


($30.6)


($17.0)


80%


($97.6)


($74.3)


31%











Government Systems









  New contract awards


$232.5


$155.8


49%


$864.9


$908.6


(5)%



  Revenues


$291.8


$250.1


17%


$851.5


$680.3


25%



  Operating profit5


$59.1


$49.9


18%


$167.2


$119.7


40%



  Adjusted EBITDA


$77.8


$69.0


13%


$222.0


$174.7


27%




1 Attributable to Viasat, Inc. common stockholders.


2 As the three months ended December 31, 2018 and nine months ended December 31, 2019 and 2018 financial information resulted in a net loss, the weighted average number of shares used to calculate basic and diluted net loss per share is the same, as diluted shares would be anti-dilutive. However, as the non-GAAP financial information for the nine months ended December 31, 2019 resulted in a non-GAAP net income, 62.8 million diluted weighted average number of shares were used instead to calculate non-GAAP diluted net income per share.


3 Awards exclude future revenue under recurring consumer commitment arrangements.


4 Amounts include certain backlog adjustments due to contract changes and amendments. Our backlog includes contracts with subscribers for fixed


broadband services in our satellite services segment. Backlog does not include anticipated purchase orders and requests for the installation of in-flight


connectivity systems or future recurring in-flight internet service revenues under our commercial in-flight internet agreements in our Commercial Networks


and Satellite Services segments, respectively. 


5 Before corporate and amortization of acquired intangible assets.


* Percentage not meaningful.


Company Highlights


  • Viasat named to Glassdoor's 2020 Best Places to Work for U.S. large employers
  • At the 2019 World Radiocommunication Conference, International Telecommunication Union Member States agreed to expand Ka-band spectrum availability for satellite broadband mobility services, enabling Viasat to expand its global mobility broadband offerings
  • Viasat, in cooperation with the Government Business Council, released the first-ever 'State of Military Communications' study which highlighted military technology improvement tactics to alleviate mission risks
  • Following the close of third quarter fiscal year 2020, Viasat announced the appointment of Dr. Theresa Wise, former chief information officer of Delta Air Lines and Northwest Airlines, to the Company's Board of Directors

Satellite Services


  Q3 Fiscal Year 2020 Financials


  • Revenues reached a new high of $211.7 million, a 19% increase year-over-year and a 3% increase sequentially, marking the eighth sequential quarter of revenue gains
  • New contract awards increased 14% year-over-year to $210.7 million
  • Segment operating income was $3.6 million, compared to a $10.2 million operating loss in the prior year period, while Adjusted EBITDA increased by 33% year-over-year to $75.1 million as fixed and mobile broadband revenues continued to scale on the ViaSat-2 satellite system. Excluding the $4.0 million ViaSat-2 insurance gain in the same period last year, segment Adjusted EBITDA increased 43%

  Business Highlights


  • U.S. fixed broadband subscriber average revenue per user (ARPU) reached a record $89.71, an increase of 15% year-over-year on approximately flat subscriber growth, as new subscribers continued to embrace Viasat's premium broadband service plans
  • In Mexico, Viasat continued to diversify its broadband service offerings and launched residential service; while consumer engagement on Community Wi-Fi internet hotspots grew on a sequential quarter basis
  • In Brazil, Viasat's participation in the Governo Eletrônico - Serviço de Atendimento ao Cidadão (GESAC) initiative continued to ramp, with over 1,500 new sites deployed in the quarter
  • In Business Aviation, Viasat's next-generation Ka-band In-Flight Connectivity (IFC) system was approved for Gulfstream G280 aircraft and received Type Certification for Embraer Praetor 600 aircraft; Viasat's dual-band business aviation IFC system also received Supplemental Type Certificate for the Bombardier Global 5000/6000/GEX family
  • In Commercial Aviation, IFC service was active on 1,379 commercial aircraft – up 23% year-over-year with a gross annual passenger opportunity reaching over 250 million people
  • As reported during Viasat's prior earnings call, in early third quarter of fiscal year 2020, Viasat was selected by Brazil's Azul Airlines to install IFC equipment/service on more than 100 combined Airbus A320neo and Embraer E195-E2 aircraft; additionally EL AL Israel Airlines committed to go full fleet with Viasat, adding Viasat's latest equipment to its new Boeing 777 widebody and remaining Boeing 737 narrowbody fleet
  • Following the close of third quarter fiscal year 2020, Viasat:
    • Expects to install its IFC equipment on over 690 additional commercial aircraft under existing contracts, with rising momentum seen in international aviation markets as passengers increasingly value an 'at home' internet experience while in-flight
    • Announced expansion of its third-party platform engagement program, with the addition of fuboTV, one of the first live TV and sports streaming services to expand distribution to the U.S. aviation market

  Fiscal Year-to-Date Summary


  • Fiscal year-to-date, Satellite Services segment reached record revenue levels with operating profit and Adjusted EBITDA performance increases compared to the same period last year reflecting year-over-year impacts similar to those seen in the third quarter of fiscal year 2020

Commercial Networks


 Q3 Fiscal Year 2020 Financials


  • Revenues were $84.7 million, a 33% decrease year-over-year, reflecting the year-ago period's accelerated IFC equipment installations for American Airlines; on a sequential quarter basis IFC terminal deliveries were up despite the continued grounding of the Boeing 737 MAX aircraft
  • New contract awards were at $134.2 million, a 25% year-over-year increase
  • Segment operating loss was 50% higher and Adjusted EBITDA was 80% lower compared to the same period last year due to expected reductions in IFC terminal deliveries and higher research and development costs associated with the ViaSat-3 space and ground segments

  Business Highlights


  • Continued progress made on the ViaSat-3 program with multiple project milestones being achieved including critical unit deliveries; integration and test activities on both the ViaSat-3 (Americas) and ViaSat-3 (Europe, Middle East, Africa) satellites; and successful completion of the Preliminary Design Review (PDR) for the third ViaSat-3 (Asia Pacific) satellite
  • Began deployment of the U.S. and European ground networks for the first two ViaSat-3 satellites and initiated siting work for the Asia-Pacific ground network
  • Completed successful over-the-air test antenna switching on Viasat's second-generation hybrid Ku-/Ka-band aviation antenna, highlighting antenna readiness for global aviation opportunities

  Fiscal Year-to-Date Summary


  • Fiscal year-to-date, Commercial Networks segment revenue was lower, operating loss was higher and Adjusted EBITDA was lower compared to the same period last year, reflecting year-over-year impacts similar to those seen in the third quarter of fiscal year 2020

Government Systems


  Q3 Fiscal Year 2020 Financials


  • Revenues were $291.8 million, an increase of 17% year-over-year led by expanding positions in the Company's satellite communications (SATCOM), mobile networking solutions and tactical data links products
  • New contract awards were up 49% year-over-year to $232.5 million securing a positive book-to-bill ratio performance for the year-to-date period
  • Operating profit increased 18% year-over-year to $59.1 million while Adjusted EBITDA increased 13% to $77.8 million

  Business Highlights


  • Fiscal year 2020 U.S. Appropriations legislation signed into law; created new opportunities for Viasat in IFC and cybersecurity, as additional government defense funds were released
  • Viasat's Multi-Mission Terminal began the UK Skynet SATCOM assurance and certification process; allowing the UK Ministry of Defence to access secure, resilient, high-speed, multi-orbit, multi-frequency band and multi-network SATCOM architectures
  • Viasat expanded its presence in Australia and established two maintenance, test and integration facilities to enhance in-country sovereign defense capabilities
  • Viasat made third-party government terminal modification kits available, enabling U.S. Department of Defense and coalition forces to use existing SATCOM terminals to access high-capacity, secure and resilient networks, without needing to completely replace the entire set of terminal equipment

  Fiscal Year-to-Date Summary


  • Fiscal year-to-date, Government Systems segment revenue, operating profit and Adjusted EBITDA performance for the segment were higher compared to the same period last year reflecting strong performance across the segment's product lines, especially SATCOM, tactical data links products, information assurance and global mobility/intelligence surveillance and reconnaissance offerings.

Conference Call
Viasat will host a conference call to discuss the third quarter fiscal year 2020 results. Details follow:


DATE/TIME:


Thursday, February 6, 2020 at 5:00 p.m. Eastern Time


DIAL-IN: 


(877) 640-9809 in the U.S.; (914) 495-8528 international


WEBCAST: 


 investors.viasat.com.


REPLAY: 


Available from 8:00 p.m. Eastern Time on Thursday, February 6 until 11:59 p.m. Eastern Time on Friday, February 7 by dialing (855) 859-2056 for U.S. callers and (404) 537-3406 for international callers; conference ID 9295872.


About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. For more than 30 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people's lives anywhere they are—on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat's Corporate Blog, or follow the Company on social media at: FacebookInstagramLinkedInTwitter or YouTube.


Forward-Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include, among others, statements that refer to opportunities, growth and outlook for the remainder of fiscal year 2020 and beyond; satellite construction and launch activities; the expected completion, performance, capacity, service, coverage, service speeds, availability and other features of our satellites, and the timing, cost, economics and other benefits associated therewith; international expansion plans, including in Brazil and Mexico; the number of IFC systems expected to be installed under existing contracts with commercial airlines; and the impacts of new contracts entered into with, and the roll-out, ramp-up and uptake of products and services by, and services to be offered by, our airline partners and other customers. Readers are cautioned that actual results could differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: our ability to realize the anticipated benefits of the ViaSat-2 and ViaSat-3 class satellites; unexpected expenses related to our satellite projects; our ability to successfully implement our business plan for our broadband satellite services on our anticipated timeline or at all; risks associated with the construction, launch and operation of our satellites, including the effect of any anomaly, operational failure or degradation in satellite performance; our ability to realize the anticipated benefits of our acquisitions or strategic partnering arrangements; our ability to successfully develop, introduce and sell new technologies, products and services; the number of purchase orders that are submitted and accepted for the installation of IFC systems with respect to aircraft under contract; audits by the U.S. government; changes in the global business environment and economic conditions; delays in approving U.S. government budgets and cuts in government defense expenditures; our reliance on U.S. government contracts, and on a small number of contracts which account for a significant percentage of our revenues; reduced demand for products and services as a result of continued constraints on capital spending by customers; changes in relationships with, or the financial condition of, key customers or suppliers; our reliance on a limited number of third parties to manufacture and supply our products; increased competition; introduction of new technologies and other factors affecting the communications and defense industries generally; the effect of adverse regulatory changes (including changes affecting spectrum availability or permitted uses) on our ability to sell products and services; orbital arc congestion affecting availability of Ka-band spectrum; the effect of changes in the way Ka-band spectrum is used by others; our level of indebtedness and ability to comply with applicable debt covenants; our involvement in litigation, including intellectual property claims and litigation to protect our proprietary technology; and our dependence on a limited number of key employees. In addition, please refer to the risk factors contained in our SEC filings available at www.sec.gov, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update or revise any forward-looking statements for any reason.


Use of Non-GAAP Financial Information
To supplement Viasat's consolidated financial statements presented in accordance with generally accepted accounting principles (GAAP), ViaSat uses non-GAAP net income (loss) attributable to Viasat Inc. and Adjusted EBITDA, measures Viasat believes are appropriate to enhance an overall understanding of Viasat's past financial performance and prospects for the future. We believe the non-GAAP results provide useful information to both management and investors by excluding specific expenses that we believe are not indicative of our core operating results. In addition, since we have historically reported non-GAAP results to the investment community, we believe the inclusion of non-GAAP numbers provides consistency in our financial reporting and facilitates comparisons to the Company's historical operating results. Further, these non-GAAP results are among the primary indicators that management uses as a basis for evaluating the operating performance of our segments, allocating resources to such segments, planning and forecasting in future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. A reconciliation of specific adjustments to GAAP results is provided in the tables below.


Copyright © 2020 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat signal are registered trademarks of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.


Condensed Consolidated Statements of Operations


(Unaudited)


(In thousands, except per share data)











Three months ended 



Nine months ended



December 31, 2019



December 31, 2018



December 31, 2019



December 31, 2018










Revenues:









Product revenues


$                  303,090



$                  301,865



$                  873,535



$                  800,429


Service revenues


285,134



252,829



843,982



710,608


Total revenues


588,224



554,694



1,717,517



1,511,037










Operating expenses:









Cost of product revenues


214,098



226,020



634,113



616,368


Cost of service revenues


190,132



176,686



564,675



523,348


Selling, general and administrative


136,005



114,566



388,528



340,328


Independent research and development


32,164



28,928



99,952



93,661


Amortization of acquired intangible assets


1,856



2,487



5,920



7,375


Income (loss) from operations


13,969



6,007



24,329



(70,043)


Interest expense, net


(9,097)



(14,865)



(28,473)



(40,198)


Income (loss) before income taxes 


4,872



(8,858)



(4,144)



(110,241)


Benefit from (provision for) income taxes


3,911



(3,230)



8,731



35,679


Equity in income of unconsolidated affiliate, net


1,807



1,351



4,328



2,730


Net income (loss)


10,590



(10,737)



8,915



(71,832)


Less: net income (loss) attributable to noncontrolling interests, net of tax


4,114



(333)



10,713



(1,694)


Net income (loss) attributable to Viasat Inc. 


$                      6,476



$                  (10,404)



$                    (1,798)



$                  (70,138)










Diluted net income (loss) per share attributable to Viasat Inc. common stockholders


$                        0.10



$                      (0.17)



$                      (0.03)



$                      (1.17)


Diluted common equivalent shares (2) 


62,916



60,152



61,405



59,698










AN ITEMIZED RECONCILIATION BETWEEN NET INCOME (LOSS) ATTRIBUTABLE TO VIASAT INC.


ON A GAAP BASIS AND NON-GAAP BASIS IS AS FOLLOWS:




(In thousands, except per share data)


Three months ended 



Nine months ended



December 31, 2019



December 31, 2018



December 31, 2019



December 31, 2018










GAAP net income (loss) attributable to Viasat Inc.


$                      6,476



$                  (10,404)



$                    (1,798)



$                  (70,138)


Amortization of acquired intangible assets


1,856



2,487



5,920



7,375


Stock-based compensation expense


21,908



20,155



64,236



58,658


Income tax effect (1)


(5,573)



(5,306)



(16,320)



(15,393)


Non-GAAP net income (loss) attributable to Viasat Inc.


$                    24,667



$                      6,932



$                    52,038



$                  (19,498)


Non-GAAP diluted net income (loss) per share attributable to Viasat Inc. common stockholders


$                        0.39



$                        0.12



$                        0.83



$                      (0.33)


Diluted common equivalent shares (2) 


62,916



60,152



62,754



59,698










(1)The income tax effect is calculated using the tax rate applicable for the non-GAAP adjustments.


(2)As the three months ended December 31, 2018 and nine months ended December 31, 2019 and 2018 financial information resulted in a net loss, the weighted average number of shares used to calculate basic and diluted net loss per share is the same, as diluted shares would be anti-dilutive. However, as the non-GAAP financial information for the nine months ended December 31, 2019 resulted in a non-GAAP net income, diluted weighted average number of shares were used instead to calculate non-GAAP diluted net income per share.










AN ITEMIZED RECONCILIATION BETWEEN NET INCOME (LOSS) ATTRIBUTABLE TO VIASAT INC.


AND ADJUSTED EBITDA IS AS FOLLOWS:






(In thousands)


Three months ended 



Nine months ended



December 31, 2019



December 31, 2018



December 31, 2019



December 31, 2018










GAAP net income (loss) attributable to Viasat Inc.


$                      6,476



$                  (10,404)



$                    (1,798)



$                  (70,138)


(Benefit from) provision for income taxes


(3,911)



3,230



(8,731)



(35,679)


Interest expense, net


9,097



14,865



28,473



40,198


Depreciation and amortization


88,759



80,834



255,109



238,105


Stock-based compensation expense


21,908



20,155



64,236



58,658


Adjusted EBITDA


$                  122,329



$                  108,680



$                  337,289



$                  231,144


 


AN ITEMIZED RECONCILIATION BETWEEN SEGMENT OPERATING PROFIT (LOSS) BEFORE










CORPORATE AND AMORTIZATION OF ACQUIRED INTANGIBLE ASSETS AND ADJUSTED EBITDA IS AS FOLLOWS:








(In thousands)





































Three months ended December 31, 2019



Three months ended December 31, 2018




Satellite
Services



Commercial
Networks



Government
Systems



Total



Satellite
Services



Commercial
Networks



Government
Systems



Total


Segment operating profit (loss) before corporate and amortization of acquired intangible assets



$     3,600



$      (46,917)



$        59,142



$   15,825



$ (10,196)



$      (31,219)



$        49,909



$     8,494


Depreciation(3)



55,003



6,725



11,078



72,806



51,060



5,663



9,849



66,572


Stock-based compensation expense



6,631



7,635



7,642



21,908



6,250



6,842



7,063



20,155


Other amortization



8,075



1,964



4,058



14,097



7,648



1,721



2,406



11,775


Equity in income of unconsolidated affiliate, net



1,807



-



-



1,807



1,351



-



-



1,351


Noncontrolling interests



-



-



(4,114)



(4,114)



562



-



(229)



333


Adjusted EBITDA 



$   75,116



$      (30,593)



$        77,806



$ 122,329



$   56,675



$      (16,993)



$        68,998



$ 108,680





















Nine months ended December 31, 2019



Nine months ended December 31, 2018




Satellite
Services



Commercial
Networks



Government
Systems



Total



Satellite
Services



Commercial
Networks



Government
Systems



Total


Segment operating profit (loss) before corporate and amortization of acquired intangible assets



$     6,648



$    (143,559)



$      167,160



$   30,249



$ (64,971)



$    (117,424)



$      119,727



$ (62,668)


Depreciation(3)



158,701



18,070



31,179



207,950



151,893



16,658



27,011



195,562


Stock-based compensation expense



19,523



22,296



22,417



64,236



17,276



20,706



20,676



58,658


Other amortization



23,691



5,641



11,907



41,239



21,608



5,716



7,844



35,168


Equity in income of unconsolidated affiliate, net



4,328



-



-



4,328



2,730



-



-



2,730


Noncontrolling interests



-



-



(10,713)



(10,713)



2,269



-



(575)



1,694


Adjusted EBITDA 



$ 212,891



$      (97,552)



$      221,950



$ 337,289



$ 130,805



$      (74,344)



$      174,683



$ 231,144



(3)Depreciation expenses not specifically recorded in a particular segment have been allocated based on other indirect allocable costs, which management believes is a reasonable method. 


 


Condensed Consolidated Balance Sheets


(Unaudited)


(In thousands)












As of



As of




As of



As of


Assets


December 31, 2019



March 31, 2019



Liabilities and Equity


December 31, 2019



March 31, 2019











Current assets:






 Current liabilities: 





Cash and cash equivalents


$                    47,778



$          261,701



 Accounts payable 


$                  152,386



$          157,275


Accounts receivable, net


316,439



300,307



 Accrued and other liabilities (4)


355,916



308,268


Inventories


283,300



234,518



 Current portion of long-term debt 


30,101



19,937


Prepaid expenses and other current assets


102,724



90,646



 Total current liabilities 


538,403



485,480


Total current assets


750,241



887,172












 Senior notes 


1,284,913



1,282,898







 Other long-term debt 


257,778



110,005







 Non-current operating lease liabilities(4)


289,159



-


Property, equipment and satellites, net


2,513,013



2,125,290



 Other liabilities 


118,120



120,826


Operating lease right-of-use assets (4)


312,509



-



 Total liabilities 


2,488,373



1,999,209


Other acquired intangible assets, net


16,271



22,301



 Total Viasat Inc. stockholders' equity 


2,006,268



1,907,748


Goodwill


121,745



121,719



 Noncontrolling interest in subsidiary 


19,043



8,330


Other assets


799,905



758,805



 Total equity 


2,025,311



1,916,078


Total assets


$               4,513,684



$       3,915,287



 Total liabilities and equity 


$               4,513,684



$       3,915,287



(4)The balances as of December 31, 2019 reflect the Company's adoption of Accounting Standards Update 2016-02, Leases, commonly referred to as ASC 842. 


 


Cision View original content:http://www.prnewswire.com/news-releases/viasat-announces-third-quarter-fiscal-year-2020-results-301000656.html


SOURCE Viasat, Inc.


Chris Phillips, Corporate Communications and Public Relations, +1 760-476-2322, chris.phillips@viasat.com; June Harrison, Investor Relations, +1 760-476-2633, IR@viasat.com