Viasat (VSAT) FY2016 results: revenue $1.4 billion, up 2.5% on the year
Viasat Inc. (VSAT) reported revenue of $1.4 billion for fiscal 2016, the year ended 31 March 2016, up 2.5% on the year before. Net income was $22 million, down 46.1%, and diluted earnings per share $0.44. The figures are the company's own, from the 10-K it filed with the SEC on 26 May 2016.
Revenue
$1.4 billion
+2.5% on the year
FY2009FY2016
Operating margin
2.9%
6.0% a year earlier
FY2009FY2016
Net income
$22 million
-46.1% on the year
FY2009FY2016
Diluted EPS
$0.44
-47.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,417
1,383
1,351
+2.5%
Cost of revenue
984
964
991
+2.1%
Gross profit
433
419
360
+3.5%
Gross margin
30.6%
30.3%
26.7%
Research and development
77.2
46.7
60.7
+65.4%
Selling, general and administrative
298
271
282
+10.2%
Operating income
41.1
83.1
3.3
-50.5%
Operating margin
2.9%
6.0%
0.2%
Interest expense
25.7
31.4
37.9
-18.1%
Pre-tax income
17.6
53.7
-34.6
-67.2%
Income tax
-4.2
13.8
-25.9
Effective tax rate
-23.7%
25.7%
n/a
Net income
21.7
40.4
-9.4
-46.1%
Net margin
1.5%
2.9%
-0.7%
Diluted EPS
$0.44
$0.84
-$0.21
-47.6%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
297
350
205
-15.0%
Capital expenditure
378
366
308
+3.1%
Free cash flow
-81.0
-17.0
-102
Free cash flow margin
-5.7%
-1.2%
-7.6%
Cash from investing
n/a
n/a
-354
Cash from financing
n/a
n/a
102
Depreciation and amortisation
242
221
185
+9.3%
Share-based compensation
47.5
39.4
33.6
+20.7%
Diluted shares, weighted
49m
48m
46m
+2.4%
Shares outstanding at period end
49m
48m
n/a
+2.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,129
1,039
941
+8.7%
Non-controlling interest
5.3
5.2
5.6
+3.3%
Debt
946
807
692
+17.3%
Other liabilities
317
297
322
+6.8%
Total liabilities and equity
2,397
2,147
1,960
+11.6%
Goodwill
117
117
83.6
-0.2%
Intangible assets
33.6
42.3
35.4
-20.6%
Cash and equivalents
42.1
52.3
58.3
-19.5%
Receivables
287
266
272
+7.7%
Inventory
145
128
120
+13.1%
Other assets
1,773
1,541
1,391
+15.0%
Total assets
2,397
2,147
1,960
+11.6%
10-K for the year ended 31 March 2016, filed 26 May 2016: the filing.