$VSAT
VIASAT INC

2013 Q3 Form 10-Q Financial Statement

#000119312513323839 Filed on August 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q2
Revenue $321.1M $241.8M
YoY Change 32.82% 11.72%
Cost Of Revenue $105.9M $78.57M
YoY Change 34.78% -47.52%
Gross Profit $215.2M $163.2M
YoY Change 31.87% 144.67%
Gross Profit Margin 67.02% 67.5%
Selling, General & Admin $64.78M $56.50M
YoY Change 14.65% 31.4%
% of Gross Profit 30.1% 34.62%
Research & Development $14.09M $7.369M
YoY Change 91.19% 3.79%
% of Gross Profit 6.55% 4.52%
Depreciation & Amortization $36.23M $31.15M
YoY Change 16.28% 18.01%
% of Gross Profit 16.83% 19.09%
Operating Expenses $78.87M $63.87M
YoY Change 23.49% 16.34%
Operating Profit $3.424M -$13.79M
YoY Change -124.83% -216.86%
Interest Expense $10.16M $11.55M
YoY Change -11.98% 11446.0%
% of Operating Profit 296.82%
Other Income/Expense, Net
YoY Change
Pretax Income -$6.718M -$25.28M
YoY Change -73.42% -312.39%
Income Tax -$5.231M -$10.84M
% Of Pretax Income
Net Earnings -$1.487M -$14.43M
YoY Change -89.7% -219.28%
Net Earnings / Revenue -0.46% -5.97%
Basic Earnings Per Share -$0.04 -$0.33
Diluted Earnings Per Share -$0.04 -$0.33
COMMON SHARES
Basic Shares Outstanding 45.44M shares 45.11M shares 43.18M shares
Diluted Shares Outstanding 45.11M shares 43.18M shares

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.70M $129.9M
YoY Change -38.65% 220.74%
Cash & Equivalents $79.68M $129.9M
Short-Term Investments
Other Short-Term Assets $3.656M $52.50M
YoY Change -93.04% 31.58%
Inventory $125.7M $137.8M
Prepaid Expenses $35.57M
Receivables $260.7M $221.9M
Other Receivables $0.00 $200.0K
Total Short-Term Assets $530.3M $542.3M
YoY Change -2.21% 46.21%
LONG-TERM ASSETS
Property, Plant & Equipment $958.5M $882.6M
YoY Change 8.6% 15.21%
Goodwill $82.63M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $219.7M $154.7M
YoY Change 42.04% 120.37%
Total Long-Term Assets $1.307B $1.179B
YoY Change 10.82% 13.96%
TOTAL ASSETS
Total Short-Term Assets $530.3M $542.3M
Total Long-Term Assets $1.307B $1.179B
Total Assets $1.837B $1.722B
YoY Change 6.72% 22.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $121.3M $75.70M
YoY Change 60.25% 5.58%
Accrued Expenses $145.4M $56.80M
YoY Change 155.93% -6.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.900M $1.300M
YoY Change 46.15% 18.18%
Total Short-Term Liabilities $268.6M $225.3M
YoY Change 19.21% 10.77%
LONG-TERM LIABILITIES
Long-Term Debt $586.2M $548.4M
YoY Change 6.89% 64.09%
Other Long-Term Liabilities $52.55M $51.90M
YoY Change 1.25% 118.07%
Total Long-Term Liabilities $52.55M $600.3M
YoY Change -91.25% 67.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $268.6M $225.3M
Total Long-Term Liabilities $52.55M $600.3M
Total Liabilities $907.3M $832.5M
YoY Change 8.99% 47.19%
SHAREHOLDERS EQUITY
Retained Earnings $219.2M
YoY Change
Common Stock $739.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $34.04M
YoY Change
Treasury Stock Shares
Shareholders Equity $924.8M $889.2M
YoY Change
Total Liabilities & Shareholders Equity $1.837B $1.722B
YoY Change 6.72% 22.47%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$1.487M -$14.43M
YoY Change -89.7% -219.28%
Depreciation, Depletion And Amortization $36.23M $31.15M
YoY Change 16.28% 18.01%
Cash From Operating Activities $53.80M $800.0K
YoY Change 6625.0% -98.27%
INVESTING ACTIVITIES
Capital Expenditures $73.03M $36.88M
YoY Change 98.01% -160.46%
Acquisitions $2.400M
YoY Change
Other Investing Activities -$2.400M $0.00
YoY Change
Cash From Investing Activities -$87.21M -$43.21M
YoY Change 101.82% -29.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.432M -160.0K
YoY Change -4745.0% -101.65%
NET CHANGE
Cash From Operating Activities 53.80M 800.0K
Cash From Investing Activities -87.21M -43.21M
Cash From Financing Activities 7.432M -160.0K
Net Change In Cash -79.77M -43.37M
YoY Change 83.94% 767.38%
FREE CASH FLOW
Cash From Operating Activities $53.80M $800.0K
Capital Expenditures $73.03M $36.88M
Free Cash Flow -$19.23M -$36.08M
YoY Change -46.7% -133.63%

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94034000
CY2012Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2480000
CY2012Q2 us-gaap Share Based Compensation
ShareBasedCompensation
6619000
CY2012Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
791000
CY2012Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-42691000
CY2012Q2 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
6327000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13789000
CY2012Q2 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
0
CY2012Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1165000
CY2012Q2 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
4635000
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
7490000
CY2013Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
53822000
CY2013Q2 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
400000
CY2012Q2 vsat Proceeds From Payments For Investments In Subsidiaries
ProceedsFromPaymentsForInvestmentsInSubsidiaries
CY2012Q2 vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
FiniteLivedIntangibleAssetPatentAndOtherLicensesAmortizationExpense
0
CY2013Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2013Q2 dei Document Type
DocumentType
10-Q
CY2013Q2 dei Document Period End Date
DocumentPeriodEndDate
2013-06-28
CY2012Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-701000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2012Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10274000
CY2012Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
109049000
CY2012Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2012Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-560000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-13000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
CY2012Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-89000
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43182000 shares
CY2012Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-160000
CY2012Q2 us-gaap Cost Of Services
CostOfServices
78569000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15121000
CY2012Q2 us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
1500000
CY2012Q2 us-gaap Advertising Expense
AdvertisingExpense
5500000
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
56501000
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2012Q2 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-113000
CY2012Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-13000
CY2012Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
241763000
CY2012Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
800000
CY2012Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
CY2012Q2 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14420000
CY2012Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5563000
CY2012Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
147729000
CY2012Q2 us-gaap Depreciation
Depreciation
31154000
CY2012Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1832000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-25275000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-15134000
CY2012Q2 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4277000
CY2012Q2 us-gaap Interest Expense
InterestExpense
11546000
CY2012Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2306000
CY2013Q2 dei Entity Central Index Key
EntityCentralIndexKey
0000797721
CY2013Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--04-04
CY2013Q2 dei Amendment Flag
AmendmentFlag
false
CY2013Q2 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2013Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
CY2013Q2 dei Trading Symbol
TradingSymbol
VSAT
CY2013Q2 dei Entity Registrant Name
EntityRegistrantName
VIASAT INC
CY2013Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
417000
CY2013Q2 us-gaap Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
3501000
CY2013Q2 us-gaap Payments For Repurchase Of Common Stock For Employee Tax Withholding Obligations
PaymentsForRepurchaseOfCommonStockForEmployeeTaxWithholdingObligations
273000
CY2013Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2400000
CY2013Q2 us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile
238799000
CY2013Q2 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1728000
CY2013Q2 us-gaap Profit Loss
ProfitLoss
-1487000
CY2013Q2 us-gaap Subsidiary Or Equity Method Investee Cumulative Percentage Ownership After All Transactions
SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions
1.00 pure
CY2013Q2 us-gaap Stock Issued1
StockIssued1
8018000
CY2013Q2 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
6400000
CY2013Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-87206000
CY2013Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
21000
CY2013Q2 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
CY2013Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5594000
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14089000
CY2013Q2 us-gaap Loss On Contracts
LossOnContracts
400000
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45110000 shares
CY2013Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-26056000
CY2013Q2 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
11776000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3424000
CY2013Q2 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
0
CY2013Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1200000
CY2013Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7554000
CY2013Q2 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<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>
CY2013Q2 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
CY2013Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1508000
CY2013Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5474000
CY2013Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-42000
CY2013Q2 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1000000
CY2013Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
138941000
CY2013Q2 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.
CY2013Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2130000
CY2013Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
2685000
CY2013Q2 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
8279000
CY2013Q2 us-gaap Revenue Recognition Percentage Of Completion Method
RevenueRecognitionPercentageOfCompletionMethod
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Revenue recognition</i></b></font></p> <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 June&#xA0;28, 2013 and June&#xA0;29, 2012, the Company recorded losses of approximately $0.4 million and $1.3 million, respectively, related to loss contracts.</font></p> </div>
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
35000
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2013Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-42000
CY2013Q2 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2017-05-09
CY2013Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
14245000
CY2013Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
129414000
CY2013Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-5888000
CY2013Q2 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
8018000
CY2013Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-574000
CY2013Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
347000
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2013Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
77000
CY2013Q2 us-gaap Maximum Length Of Time Hedged In Foreign Currency Cash Flow Hedge
MaximumLengthOfTimeHedgedInForeignCurrencyCashFlowHedge
One to twenty-three months
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45110000 shares
CY2013Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7432000
CY2013Q2 us-gaap Cost Of Services
CostOfServices
105893000
CY2013Q2 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>
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1799000
CY2013Q2 us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
2400000
CY2013Q2 us-gaap Advertising Expense
AdvertisingExpense
2900000
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
64781000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5231000
CY2013Q2 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-104000
CY2013Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
347000
CY2013Q2 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>
CY2013Q2 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. At June&#xA0;28, 2013 and March&#xA0;29, 2013, no such amounts were accrued related to the aforementioned provisions.</font></p> </div>
CY2013Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
73030000
CY2013Q2 us-gaap Sales Revenue Net
SalesRevenueNet
321102000
CY2013Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
900000
CY2013Q2 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1834000
CY2013Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5889000
CY2013Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
182161000
CY2013Q2 us-gaap Depreciation
Depreciation
36226000
CY2013Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-6036000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6718000
CY2013Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-1452000
CY2013Q2 us-gaap Use Of Estimates
UseOfEstimates
<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>
CY2013Q2 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-8012000
CY2013Q2 us-gaap Interest Expense
InterestExpense
10163000
CY2013Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
18994000
CY2013Q2 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 2014 refer to the fiscal year ending on April&#xA0;4, 2014. The Company&#x2019;s quarters for fiscal year 2014 end on June&#xA0;28, 2013,&#xA0;October&#xA0;4, 2013,&#xA0;January 3, 2014 and April&#xA0;4, 2014. This results in a 53 week fiscal year approximately every four to five years. Fiscal year 2014 is a 53&#xA0;week year, compared with a 52&#xA0;week year in fiscal year 2013. As a result of the shift in the fiscal calendar, the second quarter of fiscal year 2014 includes an additional week. The Company does not believe that the extra week results in any material impact on its financial results.</font></p> </div>
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
77000
CY2013Q2 vsat Products Warranty Period Maximum
ProductsWarrantyPeriodMaximum
P5Y
CY2013Q2 vsat Period Of In Orbit Performance Incentive Payments Including Interest
PeriodOfInOrbitPerformanceIncentivePaymentsIncludingInterest
P15Y
CY2013Q2 vsat Software Development Costs Amortization Life
SoftwareDevelopmentCostsAmortizationLife
5 Y
CY2013Q2 vsat Purchase Of Treasury Shares Pursuant To Vesting Of Certain Restricted Stock Unit Agreements Value
PurchaseOfTreasurySharesPursuantToVestingOfCertainRestrictedStockUnitAgreementsValue
273000
CY2013Q2 vsat Proceeds From Payments For Investments In Subsidiaries
ProceedsFromPaymentsForInvestmentsInSubsidiaries
CY2013Q2 vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
FiniteLivedIntangibleAssetPatentAndOtherLicensesAmortizationExpense
0
CY2013Q2 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.

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