Viasat (VSAT) FY2013 results: revenue $1.1 billion, up 29.6% on the year
Viasat Inc. (VSAT) reported revenue of $1.1 billion for fiscal 2013, the year ended 29 March 2013, up 29.6% on the year before. Net income was -$41 million, and diluted earnings per share $-0.94. The figures are the company's own, from the 10-K it filed with the SEC on 24 May 2013.
Revenue
$1.1 billion
+29.6% on the year
FY2009FY2013
Operating margin
-1.8%
0.3% a year earlier
FY2009FY2013
Net income
-$41 million
FY2009FY2013
Diluted EPS
-$0.94
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
1,120
864
802
+29.6%
Cost of revenue
848
636
551
+33.4%
Gross profit
272
228
252
+19.3%
Gross margin
24.3%
26.4%
31.4%
Research and development
35.4
25.0
28.7
+41.8%
Selling, general and administrative
241
182
164
+32.5%
Operating income
-20.4
2.2
39.3
Operating margin
-1.8%
0.3%
4.9%
Interest expense
44.0
8.3
3.2
+429.6%
Pre-tax income
-90.7
-6.1
36.4
Income tax
-50.1
-13.7
-0.0
Effective tax rate
n/a
n/a
-0.0%
Net income
-41.2
7.5
36.1
Net margin
-3.7%
0.9%
4.5%
Diluted EPS
-$0.94
$0.17
$0.84
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
91.8
141
170
-35.1%
Capital expenditure
176
205
208
-14.0%
Free cash flow
-84.5
-63.5
-38.7
Free cash flow margin
-7.5%
-7.4%
-4.8%
Cash from investing
-202
-229
-238
Cash from financing
42.9
220
18.6
-80.5%
Depreciation and amortisation
157
126
103
+25.2%
Share-based compensation
27.0
21.4
17.4
+26.4%
Buybacks
n/a
7.5
5.9
Diluted shares, weighted
44m
44m
43m
-0.7%
Shares outstanding at period end
n/a
43m
42m
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
903
888
840
+1.7%
Non-controlling interest
4.8
4.2
4.1
+14.6%
Debt
586
549
334
+6.9%
Other liabilities
300
286
227
+4.7%
Total liabilities and equity
1,794
1,727
1,406
+3.9%
Fixed assets
379
295
233
+28.4%
Goodwill
83.0
83.5
83.5
-0.6%
Intangible assets
47.2
63.0
81.9
-25.2%
Cash and equivalents
106
173
40.5
-38.7%
Receivables
267
212
192
+26.1%
Inventory
106
128
98.6
-16.7%
Other assets
806
774
676
+4.2%
Total assets
1,794
1,727
1,406
+3.9%
10-K for the year ended 29 March 2013, filed 24 May 2013: the filing.