Viasat (VSAT) FY2019 results: revenue $2.1 billion, up 29.7% on the year
Viasat Inc. (VSAT) reported revenue of $2.1 billion for fiscal 2019, the year ended 31 March 2019, up 29.7% on the year before. Net income was -$68 million, and diluted earnings per share $-1.13. The figures are the company's own, from the 10-K it filed with the SEC on 29 May 2019.
Revenue
$2.1 billion
+29.7% on the year
FY2012FY2019
Operating margin
-2.9%
-5.8% a year earlier
FY2012FY2019
Net income
-$68 million
FY2012FY2019
Diluted EPS
-$1.13
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,068
1,595
1,559
+29.7%
Cost of revenue
1,538
1,121
1,049
+37.2%
Gross profit
531
474
510
+12.0%
Gross margin
25.7%
29.7%
32.7%
Research and development
123
168
130
-26.9%
Selling, general and administrative
458
385
333
+19.0%
Operating income
-60.6
-92.2
36.5
Operating margin
-2.9%
-5.8%
2.3%
Interest expense
50.0
4.0
12.1
+1,142.2%
Pre-tax income
-110
-105
25.4
Income tax
-41.0
-35.2
3.6
Effective tax rate
n/a
n/a
14.2%
Net income
-67.6
-67.3
23.8
Net margin
-3.3%
-4.2%
1.5%
Diluted EPS
-$1.13
-$1.15
$0.45
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
328
359
411
-8.7%
Capital expenditure
637
512
515
+24.5%
Free cash flow
-309
-153
-103
Free cash flow margin
-15.0%
-9.6%
-6.6%
Cash from investing
-489
-584
-715
Cash from financing
355
166
393
+113.9%
Depreciation and amortisation
319
256
246
+24.6%
Share-based compensation
79.6
68.5
55.8
+16.1%
Diluted shares, weighted
60m
58m
53m
+2.6%
Shares outstanding at period end
61m
59m
58m
+2.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,908
1,837
1,735
+3.8%
Non-controlling interest
8.3
10.8
3.3
-23.2%
Debt
1,413
1,024
849
+38.0%
Other liabilities
586
542
368
+8.1%
Total liabilities and equity
3,915
3,414
2,955
+14.7%
Fixed assets
2,125
n/a
n/a
Goodwill
122
121
120
+0.5%
Intangible assets
22.3
31.9
41.7
-30.0%
Cash and equivalents
262
71.4
130
+266.3%
Receivables
300
268
264
+12.2%
Inventory
235
196
163
+19.5%
Other assets
849
2,726
2,236
-68.8%
Total assets
3,915
3,414
2,955
+14.7%
10-K for the year ended 31 March 2019, filed 29 May 2019: the filing.