Viasat (VSAT) FY2018 results: revenue $1.6 billion, up 2.3% on the year
Viasat Inc. (VSAT) reported revenue of $1.6 billion for fiscal 2018, the year ended 31 March 2018, up 2.3% on the year before. Net income was -$67 million, and diluted earnings per share $-1.15. The figures are the company's own, from the 10-K it filed with the SEC on 29 May 2019.
Revenue
$1.6 billion
+2.3% on the year
FY2011FY2018
Operating margin
-5.8%
2.3% a year earlier
FY2011FY2018
Net income
-$67 million
FY2011FY2018
Diluted EPS
-$1.15
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,595
1,559
1,417
+2.3%
Cost of revenue
1,121
1,049
984
+6.8%
Gross profit
474
510
433
-7.2%
Gross margin
29.7%
32.7%
30.6%
Research and development
168
130
77.2
+29.9%
Selling, general and administrative
385
333
298
+15.6%
Operating income
-92.2
36.5
41.1
Operating margin
-5.8%
2.3%
2.9%
Interest expense
4.0
12.1
25.7
-66.7%
Pre-tax income
-105
25.4
17.6
Income tax
-35.2
3.6
-4.2
Effective tax rate
n/a
14.2%
-23.7%
Net income
-67.3
23.8
21.7
Net margin
-4.2%
1.5%
1.5%
Diluted EPS
-$1.15
$0.45
$0.44
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
359
411
297
-12.8%
Capital expenditure
512
515
378
-0.6%
Free cash flow
-153
-103
-81.0
Free cash flow margin
-9.6%
-6.6%
-5.7%
Cash from investing
-584
-715
n/a
Cash from financing
166
393
n/a
-57.8%
Depreciation and amortisation
256
246
242
+4.0%
Share-based compensation
68.5
55.8
47.5
+22.9%
Diluted shares, weighted
58m
53m
49m
+9.4%
Shares outstanding at period end
59m
58m
49m
+2.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,837
1,735
1,129
+5.9%
Non-controlling interest
10.8
3.3
5.3
+227.2%
Debt
1,024
849
946
+20.6%
Other liabilities
542
368
317
+47.4%
Total liabilities and equity
3,414
2,955
2,397
+15.6%
Goodwill
121
120
117
+1.0%
Intangible assets
31.9
41.7
33.6
-23.6%
Cash and equivalents
71.4
130
42.1
-45.1%
Receivables
268
264
287
+1.5%
Inventory
196
163
145
+20.3%
Other assets
2,726
2,236
1,773
+21.9%
Total assets
3,414
2,955
2,397
+15.6%
10-K for the year ended 31 March 2018, filed 29 May 2019: the filing.