$VSAT
VIASAT INC

2013 Q1 Form 10-Q Financial Statement

#000119312513041383 Filed on February 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q4 2011 Q4
Revenue $308.7M $286.4M $205.0M
YoY Change 28.36% 39.75% 3.57%
Cost Of Revenue $232.3M $92.15M $57.32M
YoY Change 25.23% 60.76% -55.94%
Gross Profit $76.30M $194.3M $147.6M
YoY Change 38.48% 31.6% 118.09%
Gross Profit Margin 24.72% 67.83% 72.04%
Selling, General & Admin $68.10M $62.21M $45.64M
YoY Change 36.2% 36.3% 8.67%
% of Gross Profit 89.25% 32.02% 30.91%
Research & Development $11.70M $7.612M $5.999M
YoY Change 80.0% 26.89% -21.07%
% of Gross Profit 15.33% 3.92% 4.06%
Depreciation & Amortization $40.40M $40.30M $29.40M
YoY Change 11.6% 37.07% 14.4%
% of Gross Profit 52.95% 20.74% 19.91%
Operating Expenses $83.30M $69.82M $51.64M
YoY Change 36.78% 35.21% -5.6%
Operating Profit -$7.000M $1.266M $1.792M
YoY Change 20.69% -29.35% -86.22%
Interest Expense -$10.20M $10.67M $331.0K
YoY Change 30.77% 3124.17% -136.78%
% of Operating Profit 842.97% 18.47%
Other Income/Expense, Net
YoY Change
Pretax Income -$17.20M -$35.87M $1.481M
YoY Change 26.47% -2521.94% -87.86%
Income Tax -$19.40M -$15.26M -$3.637M
% Of Pretax Income -245.58%
Net Earnings $1.900M -$20.61M $5.118M
YoY Change -125.68% -502.77% -34.38%
Net Earnings / Revenue 0.62% -7.2% 2.5%
Basic Earnings Per Share -$0.47 $0.12
Diluted Earnings Per Share $42.51K -$0.47 $0.12
COMMON SHARES
Basic Shares Outstanding 44.55M shares 44.19M shares 42.45M shares
Diluted Shares Outstanding 44.19M shares 44.33M shares

Balance Sheet

Concept 2013 Q1 2012 Q4 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $105.7M $112.7M $45.80M
YoY Change -38.76% 146.07% -14.87%
Cash & Equivalents $105.7M $112.7M $45.84M
Short-Term Investments
Other Short-Term Assets $6.562M $3.840M $49.80M
YoY Change 12.87% -92.29% 31.05%
Inventory $106.3M $126.4M $129.8M
Prepaid Expenses $34.26M $32.82M
Receivables $267.0M $237.6M $184.3M
Other Receivables $0.00 $0.00 $20.20M
Total Short-Term Assets $544.9M $533.5M $429.9M
YoY Change -3.25% 24.11% 21.13%
LONG-TERM ASSETS
Property, Plant & Equipment $378.7M $347.7M $872.8M
YoY Change 28.38% -60.16% 21.19%
Goodwill $83.00M $83.56M
YoY Change -0.55%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $205.2M $185.2M $126.6M
YoY Change 50.04% 46.32% 51.07%
Total Long-Term Assets $1.249B $1.215B $1.150B
YoY Change 7.32% 5.71% 17.47%
TOTAL ASSETS
Total Short-Term Assets $544.9M $533.5M $429.9M
Total Long-Term Assets $1.249B $1.215B $1.150B
Total Assets $1.794B $1.749B $1.580B
YoY Change 3.87% 10.71% 18.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $83.01M $76.93M $62.90M
YoY Change 10.62% 22.31% -14.19%
Accrued Expenses $161.9M $139.5M $77.70M
YoY Change 1.34% 79.6% 61.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.200M $1.000M $1.200M
YoY Change 83.33% -16.67% 140.0%
Total Short-Term Liabilities $247.1M $217.5M $203.5M
YoY Change 4.71% 6.88% 11.57%
LONG-TERM LIABILITIES
Long-Term Debt $586.4M $585.3M $443.8M
YoY Change 6.89% 31.88% 38.99%
Other Long-Term Liabilities $52.64M $58.04M $42.50M
YoY Change 4.54% 36.56% 40.73%
Total Long-Term Liabilities $52.64M $58.04M $486.3M
YoY Change 4.54% -88.07% 39.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $247.1M $217.5M $203.5M
Total Long-Term Liabilities $52.64M $58.04M $486.3M
Total Liabilities $886.2M $860.9M $696.6M
YoY Change 6.14% 23.58% 30.01%
SHAREHOLDERS EQUITY
Retained Earnings $221.0M $219.1M
YoY Change -15.7%
Common Stock $715.1M $695.9M
YoY Change 10.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $33.77M $33.26M
YoY Change 33.17%
Treasury Stock Shares
Shareholders Equity $903.0M $883.6M $883.1M
YoY Change
Total Liabilities & Shareholders Equity $1.794B $1.749B $1.580B
YoY Change 3.87% 10.71% 18.44%

Cashflow Statement

Concept 2013 Q1 2012 Q4 2011 Q4
OPERATING ACTIVITIES
Net Income $1.900M -$20.61M $5.118M
YoY Change -125.68% -502.77% -34.38%
Depreciation, Depletion And Amortization $40.40M $40.30M $29.40M
YoY Change 11.6% 37.07% 14.4%
Cash From Operating Activities $42.70M $7.000M $41.20M
YoY Change -44.11% -83.01% -28.22%
INVESTING ACTIVITIES
Capital Expenditures -$62.50M -$52.10M -$34.70M
YoY Change 18.6% 50.14% -52.27%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$62.50M -$52.10M -$34.70M
YoY Change 18.6% 50.14% -59.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.90M 21.60M 3.100M
YoY Change -87.5% 596.77% -87.55%
NET CHANGE
Cash From Operating Activities 42.70M 7.000M 41.20M
Cash From Investing Activities -62.50M -52.10M -34.70M
Cash From Financing Activities 12.90M 21.60M 3.100M
Net Change In Cash -6.900M -23.50M 9.600M
YoY Change -105.44% -344.79% -346.15%
FREE CASH FLOW
Cash From Operating Activities $42.70M $7.000M $41.20M
Capital Expenditures -$62.50M -$52.10M -$34.70M
Free Cash Flow $105.2M $59.10M $75.90M
YoY Change -18.51% -22.13% -41.66%

Facts In Submission

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CY2012Q1 vsat Self Insurance Plans Reserve
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CY2012Q1 vsat Satellite Orbital Performance Payables Current And Non Current
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CY2012Q1 vsat Satellites Gross
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CY2012Q1 vsat Finite Lived Patents And Other Licenses Accumulated Amortization
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Operating Income Loss
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us-gaap Earnings Per Share Basic
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us-gaap Cost Of Goods Sold
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Earnings Per Share Diluted
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cost Of Services
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160838000
us-gaap Comprehensive Income Net Of Tax
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Capitalized Computer Software Amortization
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3200000
us-gaap Advertising Expense
AdvertisingExpense
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us-gaap Selling General And Administrative Expense
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us-gaap Income Tax Expense Benefit
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Sales Revenue Net
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us-gaap Interest Costs Capitalized
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Amortization Of Intangible Assets
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us-gaap Sales Revenue Goods Net
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us-gaap Depreciation
Depreciation
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Interest Expense
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
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0
vsat Incremental Common Shares Attributable To Potentially Issuable Per Employee Profit Sharing Plan And To Stock Issued Per Employee Stock Purchase Plan
IncrementalCommonSharesAttributableToPotentiallyIssuablePerEmployeeProfitSharingPlanAndToStockIssuedPerEmployeeStockPurchasePlan
105000 shares
vsat Incremental Common Shares Attributable To Restricted Stock Units To Acquire Common Stock
IncrementalCommonSharesAttributableToRestrictedStockUnitsToAcquireCommonStock
407000 shares
vsat Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax Beginning Balance1
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182000
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-12-28
dei Entity Central Index Key
EntityCentralIndexKey
0000797721
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-29
dei Trading Symbol
TradingSymbol
VSAT
dei Entity Registrant Name
EntityRegistrantName
VIASAT INC
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
271582000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
8873000
us-gaap Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
12065000
us-gaap Payments For Repurchase Of Common Stock For Employee Tax Withholding Obligations
PaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligations
7902000
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
103000
us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile
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606669000
us-gaap Increase Decrease In Other Operating Assets
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us-gaap Profit Loss
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us-gaap Capitalized Computer Software Additions
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Investment Income Interest
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143000
us-gaap Payments Of Debt Issuance Costs
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us-gaap Stock Issued During Period Value Stock Options Exercised
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us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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us-gaap Loss On Contracts
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Revenue Recognition Leases
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<div> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company also enters into certain leasing arrangements with customers and evaluates the contracts in accordance with the authoritative guidance for leases (ASC 840). The Company&#x2019;s accounting for equipment leases involves specific determinations under the authoritative guidance for leases, which often involve complex provisions and significant judgments. In accordance with the authoritative guidance for leases, the Company classifies the transactions as sales type or operating leases based on (1)&#xA0;review for transfers of ownership of the equipment to the lessee by the end of the lease term, (2)&#xA0;review of the lease terms to determine if it contains an option to purchase the leased equipment for a price which is sufficiently lower than the expected fair value of the equipment at the date of the option, (3)&#xA0;review of the lease term to determine if it is equal to or greater than 75% of the economic life of the equipment, and (4)&#xA0;review of the present value of the minimum lease payments to determine if they are equal to or greater than 90% of the fair market value of the equipment at the inception of the lease. Additionally, the Company considers the cancelability of the contract and any related uncertainty of collections or risk in recoverability of the lease investment at lease inception. Revenue from sales type leases is recognized at the inception of the lease or when the equipment has been delivered and installed at the customer site, if installation is required. Revenues from equipment rentals under operating leases are recognized as earned over the lease term, which is generally on a straight-line basis.</font></p> </div>
us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
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us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
3707000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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232000
us-gaap Unrecognized Tax Benefits Period Increase Decrease
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200000
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
330129000
us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
Borrowings under the Credit Facility bear interest, at the Company's option, at either (1) the highest of the Federal Funds rate plus 0.50%, the Eurodollar rate plus 1.00% or the administrative agent's prime rate as announced from time to time, or (2) the Eurodollar rate plus, in the case of each of (1) and (2), an applicable margin that is based on the Company's total leverage ratio.
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5875000
us-gaap Share Based Compensation
ShareBasedCompensation
19410000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
49138000
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
100000
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CashAndCashEquivalentsPeriodIncreaseDecrease
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
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0
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
19664000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
2487000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
19512000
us-gaap Revenue Recognition Percentage Of Completion Method
RevenueRecognitionPercentageOfCompletionMethod
<div> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">A substantial portion of the Company&#x2019;s revenues is derived from long-term contracts requiring development and delivery of complex equipment built to customer specifications. Sales related to long-term contracts are accounted for under the authoritative guidance for the percentage-of-completion method of accounting (Accounting Standards Codification (ASC) 605-35). Sales and earnings under these contracts are recorded either based on the ratio of actual costs incurred to date to total estimated costs expected to be incurred related to the contract, or as products are shipped under the units-of-delivery method. Anticipated losses on contracts are recognized in full in the period in which losses become probable and estimable. Changes in estimates of profit or loss on contracts are included in earnings on a cumulative basis in the period the estimate is changed. During the three months ended December&#xA0;28, 2012 and December&#xA0;30, 2011, the Company recorded losses of approximately $0.6 million and $0.5 million, respectively, related to loss contracts. During the nine months ended December&#xA0;28, 2012 and December&#xA0;30, 2011, the Company recorded losses of approximately $3.1 million and $1.2 million, respectively, related to loss contracts.</font></p> </div>
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
393000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.99
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2017-05-09
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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us-gaap Cost Of Goods Sold
CostOfGoodsSold
349720000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
925000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-30997000
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
7060000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
199000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.99
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
161000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7902000
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-11000
us-gaap Maximum Length Of Time Hedged In Foreign Currency Cash Flow Hedge
MaximumLengthOfTimeHedgedInForeignCurrencyCashFlowHedge
Nine to twenty three months
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43662000 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30019000
us-gaap Cost Of Services
CostOfServices
266096000
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
300000000
us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Collections in excess of revenues and deferred revenues represent cash collected from customers in advance of revenue recognition and are recorded in accrued liabilities for obligations within the next twelve months. Amounts for obligations extending beyond twelve months are recorded within other liabilities in the condensed consolidated financial statements.</font></p> </div>
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-42710000
us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
5500000
us-gaap Advertising Expense
AdvertisingExpense
17000000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
172789000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-30607000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-11000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
199000
us-gaap Revenue Recognition Multiple Element Arrangements
RevenueRecognitionMultipleElementArrangements
<div> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">In accordance with the authoritative guidance for revenue recognition for multiple element arrangements, the Accounting Standards Update (ASU) 2009-13 (ASU 2009-13), Revenue Recognition (ASC 605) Multiple-Deliverable Revenue Arrangements, which updates ASC 605-25, Revenue Recognition-Multiple element arrangements, of the Financial Accounting Standards Board (FASB) codification, for substantially all of the arrangements with multiple deliverables, the Company allocates revenue to each element based on a selling price hierarchy at the arrangement inception. The selling price for each element is based upon the following selling price hierarchy: vendor specific objective evidence (VSOE) if available, third party evidence (TPE) if VSOE is not available, or estimated selling price (ESP) if neither VSOE nor TPE are available (a description as to how the Company determines VSOE, TPE and ESP is provided below). If a tangible hardware systems product includes software, the Company determines whether the tangible hardware systems product and the software work together to deliver the product&#x2019;s essential functionality and, if so, the entire product is treated as a nonsoftware deliverable. The total arrangement consideration is allocated to each separate unit of accounting for each of the nonsoftware deliverables using the relative selling prices of each unit based on the aforementioned selling price hierarchy. Revenue for each separate unit of accounting is recognized when the applicable revenue recognition criteria for each element have been met.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">To determine the selling price in multiple-element arrangements, the Company establishes VSOE of the selling price using the price charged for a deliverable when sold separately and for software license updates, product support and hardware systems support, based on the renewal rates offered to customers. For nonsoftware multiple-element arrangements, TPE is established by evaluating similar and/or interchangeable competitor products or services in standalone arrangements with similarly situated customers and/or agreements. If the Company is unable to determine the selling price because VSOE or TPE doesn&#x2019;t exist, the Company determines ESP for the purposes of allocating the arrangement by reviewing historical transactions, including transactions whereby the deliverable was sold on a standalone basis and considers several other external and internal factors including, but not limited to, pricing practices including discounting, margin objectives, competition, the geographies in which the Company offers its products and services, the type of customer (i.e., distributor, value added reseller, government agency or direct end user, among others) and the stage of the product lifecycle. The determination of ESP considers the Company&#x2019;s pricing model and go-to-market strategy. As the Company, or its competitors&#x2019;, pricing and go-to-market strategies evolve, the Company may modify its pricing practices in the future, which could result in changes to its determination of VSOE, TPE and ESP. As a result, the Company&#x2019;s future revenue recognition for multiple-element arrangements could differ materially from those in the current period.</font></p> </div>
us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Indemnification provisions</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">In the ordinary course of business, the Company includes indemnification provisions in certain of its contracts, generally relating to parties with which the Company has commercial relations. Pursuant to these agreements, the Company will indemnify, hold harmless and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party, including but not limited to losses relating to third-party intellectual property claims. To date, there have not been any material costs incurred in connection with such indemnification clauses. The Company&#x2019;s insurance policies do not necessarily cover the cost of defending indemnification claims or providing indemnification, so if a claim was filed against the Company by any party that the Company has agreed to indemnify, the Company could incur substantial legal costs and damages. A claim would be accrued when a loss is considered probable and the amount can be reasonably estimated.</font></p> </div>
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
120182000
us-gaap Sales Revenue Net
SalesRevenueNet
811027000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2300000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-43103000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17720000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
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us-gaap Depreciation
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Use Of Estimates
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<div> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting period. Estimates have been prepared on the basis of the most current and best available information and actual results could differ from those estimates. Significant estimates made by management include revenue recognition, stock-based compensation, self-insurance reserves, allowance for doubtful accounts, warranty accruals, valuation of goodwill and other intangible assets, patents, orbital slots and other licenses, software development, property, equipment and satellites, long-lived assets, derivatives, contingencies and income taxes including the valuation allowance on deferred tax assets.</font></p> </div>
us-gaap Increase Decrease In Accrued Liabilities
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-12536000
us-gaap Interest Expense
InterestExpense
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Fiscal Period
FiscalPeriod
<div> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company&#x2019;s fiscal year is the 52 or 53 weeks ending on the Friday closest to March&#xA0;31 of the specified year. For example, references to fiscal year 2013 refer to the fiscal year ending on March&#xA0;29, 2013. The Company&#x2019;s quarters for fiscal year 2013 end on June&#xA0;29, 2012,&#xA0;September&#xA0;28, 2012,&#xA0;December&#xA0;28, 2012 and March&#xA0;29, 2013. This results in a 53 week fiscal year approximately every four to five years. Fiscal years 2013 and 2012 are both 52-week years.</font></p> </div>
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-727000
vsat Products Warranty Period Maximum
ProductsWarrantyPeriodMaximum
P5Y
vsat Period Of In Orbit Performance Incentive Payments Including Interest
PeriodOfInOrbitPerformanceIncentivePaymentsIncludingInterest
P15Y
vsat Software Development Costs Amortization Life
SoftwareDevelopmentCostsAmortizationLife
5 Y
vsat Purchase Of Treasury Shares Pursuant To Vesting Of Certain Restricted Stock Unit Agreements Value
PurchaseOfTreasurySharesPursuantToVestingOfCertainRestrictedStockUnitAgreementsValue
7902000
vsat Payments Of Estimated Satellite Performance Incentives Obligation
PaymentsOfEstimatedSatellitePerformanceIncentivesObligation
1025000
vsat Non Cash Loss On Extinguishment Of Debt
NonCashLossOnExtinguishmentOfDebt
6726000
vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
FiniteLivedIntangibleAssetPatentAndOtherLicensesAmortizationExpense
0
vsat Defense Contract Audit Agency Completed Cost Audits
DefenseContractAuditAgencyCompletedCostAudits
Contract costs on U.S. government contracts are subject to audit and review by the Defense Contracting Management Agency (DCMA), the Defense Contract Audit Agency (DCAA), and other U.S. government agencies, as well as negotiations with U.S. government representatives. The Company’s incurred cost audits by the DCAA have not been completed for fiscal year 2004 and subsequent fiscal years. Although the Company has recorded contract revenues subsequent to fiscal year 2003 based upon an estimate of costs that the Company believes will be approved upon final audit or review, the Company does not know the outcome of any ongoing or future audits or reviews and adjustments, and if future adjustments exceed the Company’s estimates, its profitability would be adversely affected.
vsat Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax Beginning Balance1
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTaxBeginningBalance1
-270000
vsat Other Noncontrolling Interest Activities
OtherNoncontrollingInterestActivities
49000
vsat Amount That Would Have Been Recognized In Tax Provison Benefit If Tax Law Enacted In Current Period
AmountThatWouldHaveBeenRecognizedInTaxProvisonBenefitIfTaxLawEnactedInCurrentPeriod
8000000
vsat Payments Of Discount On Debt Repayment
PaymentsOfDiscountOnDebtRepayment
3418000
vsat Proceeds From Premium On Debt Issuance
ProceedsFromPremiumOnDebtIssuance
10500000
CY2011Q4 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2011Q4 us-gaap Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
4752000
CY2011Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-268000
CY2011Q4 us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile
165660000
CY2011Q4 us-gaap Profit Loss
ProfitLoss
5118000
CY2011Q4 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
6500000
CY2011Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
20000
CY2011Q4 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2011Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5999000
CY2011Q4 us-gaap Loss On Contracts
LossOnContracts
500000
CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42452000 shares
CY2011Q4 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-243000
CY2011Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-241000
CY2011Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
83102000
CY2011Q4 us-gaap Share Based Compensation
ShareBasedCompensation
5800000
CY2011Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1352000 shares
CY2011Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
1792000
CY2011Q4 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
0
CY2011Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-104000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2011Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
89463000
CY2011Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-22000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2011Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
137000
CY2011Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-74000
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44333000 shares
CY2011Q4 us-gaap Cost Of Services
CostOfServices
57318000
CY2011Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5036000
CY2011Q4 us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
800000
CY2011Q4 us-gaap Advertising Expense
AdvertisingExpense
100000
CY2012Q4 us-gaap Cost Of Services
CostOfServices
92145000
CY2012Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20710000
CY2011Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
45640000
CY2011Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3637000
CY2011Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-22000
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
204964000
CY2011Q4 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
8100000
CY2011Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5140000
CY2011Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
121862000
CY2011Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1481000
CY2011Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
5014000
CY2011Q4 us-gaap Interest Expense
InterestExpense
331000
CY2011Q4 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-112000
CY2011Q4 vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
FiniteLivedIntangibleAssetPatentAndOtherLicensesAmortizationExpense
0
CY2011Q4 vsat Incremental Common Shares Attributable To Potentially Issuable Per Employee Profit Sharing Plan And To Stock Issued Per Employee Stock Purchase Plan
IncrementalCommonSharesAttributableToPotentiallyIssuablePerEmployeeProfitSharingPlanAndToStockIssuedPerEmployeeStockPurchasePlan
107000 shares
CY2011Q4 vsat Incremental Common Shares Attributable To Restricted Stock Units To Acquire Common Stock
IncrementalCommonSharesAttributableToRestrictedStockUnitsToAcquireCommonStock
422000 shares
CY2011Q4 vsat Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax Beginning Balance1
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTaxBeginningBalance1
-539000
CY2012Q4 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2012Q4 us-gaap Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
3960000
CY2012Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
77000
CY2012Q4 us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile
221445000
CY2012Q4 us-gaap Profit Loss
ProfitLoss
-20614000
CY2012Q4 us-gaap Subsidiary Or Equity Method Investee Cumulative Percentage Ownership After All Transactions
SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions
1.00 pure
CY2012Q4 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
6600000
CY2012Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
38000
CY2012Q4 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5800000
CY2012Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7612000
CY2012Q4 us-gaap Loss On Contracts
LossOnContracts
600000
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44189000 shares
CY2012Q4 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
57000
CY2012Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-55000
CY2012Q4 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
700000
CY2012Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
121748000
CY2012Q4 us-gaap Share Based Compensation
ShareBasedCompensation
7000000
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
1266000
CY2012Q4 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
0
CY2012Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
66000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
CY2012Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
119250000
CY2012Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
162000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
CY2012Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
121000
CY2012Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
29000
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44189000 shares
CY2012Q4 us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
1700000
CY2012Q4 us-gaap Advertising Expense
AdvertisingExpense
5500000
CY2012Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
62209000
CY2012Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-15255000
CY2012Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
162000
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
286442000
CY2012Q4 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
700000
CY2012Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20776000
CY2012Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
164694000
CY2012Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-35869000
CY2012Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-20548000
CY2012Q4 us-gaap Interest Expense
InterestExpense
10672000
CY2012Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-26501000
CY2012Q4 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-141000
CY2012Q4 vsat Weighted Average Payable Period On Capital Lease In Month
WeightedAveragePayablePeriodOnCapitalLeaseInMonth
P36M
CY2012Q4 vsat Maximum Contractual Satellite Orbital Performance Obligation
MaximumContractualSatelliteOrbitalPerformanceObligation
38000000
CY2012Q4 vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
FiniteLivedIntangibleAssetPatentAndOtherLicensesAmortizationExpense
0
CY2012Q4 vsat Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax Beginning Balance1
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTaxBeginningBalance1
-230000

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