Viasat<\/b> posted 2019 Third Quarter (3Q) sales of $588.2 million, a 6% jump from the same time period last year, according to the company\u2019s 3Q financial results issued Feb. 6. New contract awards grew 29% to $577.4 million for the quarter, which Viasat said reflects its momentum across its government, U.S. fixed broadband, and commercial aviation businesses<\/p>\n
Both Satellite Services and Government Systems posted double-digit quarterly and year-to-date revenue gains. Satellite Services reached a quarterly revenue record of $211.7 million, a year-over-year increase of 19%. Government Systems revenue reached $291.8 million, a year-over-year increase of 17%.<\/p>\n
Revenues for the Commercial Networks segment were $84.7 million, a 33% decrease year-over-year, reflecting the year-ago period\u2019s accelerated In-Flight Connectivity (IFC) equipment installations for American Airlines<\/b>; on a sequential quarter basis IFC terminal deliveries were up despite the continued grounding of the Boeing<\/b> 737 MAX aircraft<\/p>\n
Viasat Chairman and CEO Mark Dankberg said the company is seeing \u201cenormous\u201d demand for bandwidth, and highlighted that the company is focused on delivering its ViaSat-3 constellation into service. <\/p>\n
\u201cWe achieved another quarter of solid revenue growth and margin improvement in our Q3 of fiscal year 2020,\u201d Dankberg said. \u201cWe\u2019re 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.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Viasat posted 2019 Third Quarter (3Q) sales of $588.2 million, a 6% jump from the same time period last year, according to the company\u2019s 3Q financial results issued Feb. 6. New contract awards grew 29% to $577.4 million for the quarter, which Viasat said reflects its momentum across its government, U.S. fixed broadband, and commercial […]<\/p>\n","protected":false},"author":1,"featured_media":53415,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-60403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/60403"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=60403"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/60403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/53415"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=60403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=60403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=60403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}