Viasat (VSAT) FY2017 results: revenue $1.6 billion, up 10.0% on the year
Viasat Inc. (VSAT) reported revenue of $1.6 billion for fiscal 2017, the year ended 31 March 2017, up 10.0% on the year before. Net income was $24 million, up 9.3%, and diluted earnings per share $0.45. The figures are the company's own, from the 10-K it filed with the SEC on 29 May 2019.
Revenue
$1.6 billion
+10.0% on the year
FY2010FY2017
Operating margin
2.3%
2.9% a year earlier
FY2010FY2017
Net income
$24 million
+9.3% on the year
FY2010FY2017
Diluted EPS
$0.45
+2.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,559
1,417
1,383
+10.0%
Cost of revenue
1,049
984
964
+6.6%
Gross profit
510
433
419
+17.8%
Gross margin
32.7%
30.6%
30.3%
Research and development
130
77.2
46.7
+68.0%
Selling, general and administrative
333
298
271
+11.8%
Operating income
36.5
41.1
83.1
-11.3%
Operating margin
2.3%
2.9%
6.0%
Interest expense
12.1
25.7
31.4
-53.1%
Pre-tax income
25.4
17.6
53.7
+44.3%
Income tax
3.6
-4.2
13.8
Effective tax rate
14.2%
-23.7%
25.7%
Net income
23.8
21.7
40.4
+9.3%
Net margin
1.5%
1.5%
2.9%
Diluted EPS
$0.45
$0.44
$0.84
+2.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
411
297
350
+38.5%
Capital expenditure
515
378
366
+36.2%
Free cash flow
-103
-81.0
-17.0
Free cash flow margin
-6.6%
-5.7%
-1.2%
Cash from investing
-715
n/a
n/a
Cash from financing
393
n/a
n/a
Depreciation and amortisation
246
242
221
+1.6%
Share-based compensation
55.8
47.5
39.4
+17.4%
Diluted shares, weighted
53m
49m
48m
+8.0%
Shares outstanding at period end
58m
49m
48m
+17.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,735
1,129
1,039
+53.6%
Non-controlling interest
3.3
5.3
5.2
-37.7%
Debt
849
946
807
-10.3%
Other liabilities
368
317
297
+16.0%
Total liabilities and equity
2,955
2,397
2,147
+23.2%
Goodwill
120
117
117
+2.4%
Intangible assets
41.7
33.6
42.3
+24.0%
Cash and equivalents
130
42.1
52.3
+209.1%
Receivables
264
287
266
-8.0%
Inventory
163
145
128
+12.4%
Other assets
2,236
1,773
1,541
+26.1%
Total assets
2,955
2,397
2,147
+23.2%
10-K for the year ended 31 March 2017, filed 29 May 2019: the filing.