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Viasat Inc (VSAT) Q4 2019 Earnings Call Transcript


Added 05-24-19 02:04:02am EST - “VSAT earnings call for the period ending March 31, 2019.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Viasat Inc (VSAT) Q4 2019 Earnings Call Transcript”. Below is an excerpt from the article.

Welcome to Viasat's Fiscal Year 2019 Fourth Quarter Earnings Conference Call. Your host for today's call is Mark Dankberg, Chairman and CEO. You may proceed, Mr. Dankberg.

Okay, thanks. Good afternoon everybody and welcome to Viasat's earnings call for our fourth fiscal quarter of 2019. I'm Mark Dankberg, Chairman and CEO, and I've got with me Rick Baldridge, our President and Chief Operating Officer; Shawn Duffy, our CFO; Robert Blair, our General Counsel; Bruce Dirks, our Treasurer and Paul Froelich in Corporate Development.

Thanks, Mark. As you know, this discussion will contain forward-looking statements. This is a reminder that factors could cause actual results to differ materially. Additional information concerning these factors is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q. Copies are available from the SEC or from our website.

Okay. Thanks, Robert. So we will be referring to slides that are available over the web. I'll start with a summary of financial highlights and an overview, and then Shawn will discuss the consolidated and segment level financial results, I'll provide some additional color on the businesses and then we'll review our outlook and take questions.

So financial results for the quarter and full fiscal year were exceptional. Fourth quarter revenues were up 27% from last year to a record $557 million and revenues for the full year were up 30% to a record $2.1 billion. All operating segments achieved double-digit top line growth in both the quarterly and full year periods. Fiscal '19 contract awards were $2.4 billion, up 42% and that excludes about $1 billion in recent multiyear defense -- Indefinite Delivery/ Indefinite Quantity or ID/IQ contracts and our AMSS contract options that aren't counted in backlog. Those ID/IQs and contract options are not definitive orders but have often led to firm orders and are indicative of demand.

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