ViaSat Reports Fiscal 1Q 2015 Adjusted EBITDA Growth of Nearly 30%

Carlsbad, Calif. Aug. 6, 2015--ViaSat Inc. (NASDAQ: VSAT) announced financial results for the fiscal first quarter ended June 30, 2015.  Fiscal first quarter Adjusted EBITDA grew nearly 30% year-over-year to US$ 77.5 million. Revenues grew to $344.4 million, up 8% from the prior year period.

"We're off to a good start in fiscal year 2016 as our focus on attractive bandwidth economics delivers results in multiple applications," said Mark Dankberg, ViaSat chairman and CEO.

"This quarter, for the first time, service revenues represented over half of sales. Residential broadband leads the way, with good opportunities for sustained growth in revenues, Adjusted EBITDA and margins. With almost 1,000 aircraft in service spanning commercial, government and general aviation markets, in-flight connectivity is a significant contributor. JetBlue and United are setting the commercial aeronautical Wi-Fi pace, and we're excited about our recently announced partnership with Virgin America. Our government business grew revenues 24% and Adjusted EBITDA 35% - also driven by satellite broadband as well as tactical data links. We continue to invest in delivering higher broadband speeds, more bandwidth, more coverage and better service across our markets, and see significant opportunities for continued growth," said Dankberg.

Non-GAAP diluted net income per share increased to $0.25, a fivefold increase from the first quarter of fiscal year 2015.

ViaSat's Satellite Services segment revenues rose 21% year-over-year in the fiscal first quarter, and segment Adjusted EBITDA rose 67% year-over-year to $54.6 million. Performance was driven by revenue growth and improved profitability in consumer residential broadband services as well as higher income from in-flight Wi-Fi services: 

Total consumer residential broadband subscribers were approximately 685,000 as of the end of the fiscal first quarter, including quarterly gross adds of 46,300, a 7% increase compared to the same period last year. Consumer broadband ARPU hit a new high of US$ 55.79.

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