$VSAT
VIASAT INC

2014 Q1 Form 10-Q Financial Statement

#000119312514047905 Filed on February 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2012 Q4
Revenue $332.6M $286.4M
YoY Change 7.73% 39.75%
Cost Of Revenue $102.6M $92.15M
YoY Change -55.83% 60.76%
Gross Profit $229.9M $194.3M
YoY Change 201.37% 31.6%
Gross Profit Margin 69.15% 67.83%
Selling, General & Admin $69.10M $62.21M
YoY Change 1.47% 36.3%
% of Gross Profit 30.05% 32.02%
Research & Development $15.14M $7.612M
YoY Change 29.43% 26.89%
% of Gross Profit 6.59% 3.92%
Depreciation & Amortization $46.50M $40.30M
YoY Change 15.1% 37.07%
% of Gross Profit 20.22% 20.74%
Operating Expenses $84.24M $69.82M
YoY Change 1.13% 35.21%
Operating Profit $1.524M $1.266M
YoY Change -121.77% -29.35%
Interest Expense $9.169M $10.67M
YoY Change -189.89% 3124.17%
% of Operating Profit 601.64% 842.97%
Other Income/Expense, Net
YoY Change
Pretax Income -$7.642M -$35.87M
YoY Change -55.57% -2521.94%
Income Tax -$1.682M -$15.26M
% Of Pretax Income
Net Earnings -$5.960M -$20.61M
YoY Change -413.68% -502.77%
Net Earnings / Revenue -1.79% -7.2%
Basic Earnings Per Share -$0.13 -$0.47
Diluted Earnings Per Share -$0.13 -$0.47
COMMON SHARES
Basic Shares Outstanding 45.94M shares 44.19M shares
Diluted Shares Outstanding 45.94M shares 44.19M shares

Balance Sheet

Concept 2014 Q1 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.40M $112.7M
YoY Change -60.83% 146.07%
Cash & Equivalents $41.36M $112.7M
Short-Term Investments
Other Short-Term Assets $2.827M $3.840M
YoY Change -56.92% -92.29%
Inventory $126.5M $126.4M
Prepaid Expenses $41.39M $32.82M
Receivables $282.6M $237.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $519.8M $533.5M
YoY Change -4.61% 24.11%
LONG-TERM ASSETS
Property, Plant & Equipment $1.031B $347.7M
YoY Change 172.33% -60.16%
Goodwill $83.30M $83.56M
YoY Change 0.36%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $256.0M $185.2M
YoY Change 24.73% 46.32%
Total Long-Term Assets $1.410B $1.215B
YoY Change 12.84% 5.71%
TOTAL ASSETS
Total Short-Term Assets $519.8M $533.5M
Total Long-Term Assets $1.410B $1.215B
Total Assets $1.929B $1.749B
YoY Change 7.54% 10.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $112.2M $76.93M
YoY Change 35.21% 22.31%
Accrued Expenses $155.9M $139.5M
YoY Change -3.7% 79.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.500M $1.000M
YoY Change -31.82% -16.67%
Total Short-Term Liabilities $269.7M $217.5M
YoY Change 9.11% 6.88%
LONG-TERM LIABILITIES
Long-Term Debt $670.1M $585.3M
YoY Change 14.27% 31.88%
Other Long-Term Liabilities $51.54M $58.04M
YoY Change -2.09% 36.56%
Total Long-Term Liabilities $51.54M $58.04M
YoY Change -2.09% -88.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $269.7M $217.5M
Total Long-Term Liabilities $51.54M $58.04M
Total Liabilities $991.3M $860.9M
YoY Change 11.85% 23.58%
SHAREHOLDERS EQUITY
Retained Earnings $215.1M $219.1M
YoY Change -2.68%
Common Stock $763.9M $695.9M
YoY Change 6.82%
Preferred Stock
YoY Change
Treasury Stock (at cost) $48.60M $33.26M
YoY Change 43.91%
Treasury Stock Shares
Shareholders Equity $932.5M $883.6M
YoY Change
Total Liabilities & Shareholders Equity $1.929B $1.749B
YoY Change 7.54% 10.71%

Cashflow Statement

Concept 2014 Q1 2012 Q4
OPERATING ACTIVITIES
Net Income -$5.960M -$20.61M
YoY Change -413.68% -502.77%
Depreciation, Depletion And Amortization $46.50M $40.30M
YoY Change 15.1% 37.07%
Cash From Operating Activities $32.10M $7.000M
YoY Change -24.82% -83.01%
INVESTING ACTIVITIES
Capital Expenditures -$95.80M -$52.10M
YoY Change 53.28% 50.14%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$95.80M -$52.10M
YoY Change 53.28% 50.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.90M 21.60M
YoY Change 193.8% 596.77%
NET CHANGE
Cash From Operating Activities 32.10M 7.000M
Cash From Investing Activities -95.80M -52.10M
Cash From Financing Activities 37.90M 21.60M
Net Change In Cash -25.80M -23.50M
YoY Change 273.91% -344.79%
FREE CASH FLOW
Cash From Operating Activities $32.10M $7.000M
Capital Expenditures -$95.80M -$52.10M
Free Cash Flow $127.9M $59.10M
YoY Change 21.58% -22.13%

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PaymentsToAcquirePropertyPlantAndEquipment
120182000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
199000
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 Proceeds From Stock Plans
ProceedsFromStockPlans
19512000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
349720000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-30997000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
3707000
us-gaap Share Based Compensation
ShareBasedCompensation
19410000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-59916000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-12536000
us-gaap Interest Expense
InterestExpense
33771000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
935000
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
19100000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-139062000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23739000
us-gaap Loss On Contracts
LossOnContracts
3100000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
8873000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17720000
us-gaap Depreciation
Depreciation
98997000
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
vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
FiniteLivedIntangibleAssetPatentAndOtherLicensesAmortizationExpense
0
vsat Payments Of Discount On Debt Repayment
PaymentsOfDiscountOnDebtRepayment
3418000
vsat Amortization Of Acquired Intangible Asset
AmortizationOfAcquiredIntangibleAsset
12065000
vsat Non Cash Loss On Extinguishment Of Debt
NonCashLossOnExtinguishmentOfDebt
6726000
vsat Proceeds From Premium On Debt Issuance
ProceedsFromPremiumOnDebtIssuance
10500000
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
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-01-03
dei Entity Central Index Key
EntityCentralIndexKey
0000797721
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--04-04
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Revenue Recognition Multiple Element Arrangements
RevenueRecognitionMultipleElementArrangements
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <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-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <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-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Indemnification provisions</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <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 January&#xA0;3, 2014 and March&#xA0;29, 2013, no such amounts were accrued related to the aforementioned provisions.</font></p> </div>
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45576000 shares
us-gaap Revenue Recognition Percentage Of Completion Method
RevenueRecognitionPercentageOfCompletionMethod
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Revenue recognition</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <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 January&#xA0;3, 2014 and December&#xA0;28, 2012, the Company recorded losses of approximately $1.7 million and $0.6 million, respectively, related to loss contracts. During the nine months ended January&#xA0;3, 2014 and December&#xA0;28, 2012, the Company recorded losses of approximately $2.7 million and $3.1 million, respectively, related to loss contracts.</font></p> </div>
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2018-11-26
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
3000000
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 Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
134906000
us-gaap Fiscal Period
FiscalPeriod
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <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 included an additional week. The Company does not believe that the extra week results in any material impact on its financial results.</font></p> </div>
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45576000 shares
us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; TEXT-INDENT: 4%"> <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 Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
7059000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <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 Other Noncash Income Expense
OtherNoncashIncomeExpense
-4661000
us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
0
us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; TEXT-INDENT: 4%"> <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 Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
6900000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
60000000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4434000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-3670000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-24735000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-24592000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
586398000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5930000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2400000
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
10070000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2512000
us-gaap Investment Income Interest
InvestmentIncomeInterest
28000
us-gaap Stock Issued1
StockIssued1
8018000
us-gaap Profit Loss
ProfitLoss
-5166000
us-gaap Operating Income Loss
OperatingIncomeLoss
4438000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
33210000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
8184000
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
421140000
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-2700000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14829000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1321000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
18688000
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
8018000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
16470000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1496000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
5706000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
25002000
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
175000
us-gaap Sales Revenue Net
SalesRevenueNet
1007538000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
244863000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
764000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
5400000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2275000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
764000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
81160000
us-gaap Cost Of Services
CostOfServices
313010000
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
15776000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
427517000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-20693000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
4987000
us-gaap Share Based Compensation
ShareBasedCompensation
24365000
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
300000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-64376000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
14829000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2063000
us-gaap Interest Expense
InterestExpense
29201000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
10801000
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
28300000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-280473000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
44150000
us-gaap Loss On Contracts
LossOnContracts
2700000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
749000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
145000000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
18009000
us-gaap Depreciation
Depreciation
117742000
us-gaap Advertising Expense
AdvertisingExpense
14500000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
207474000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-19569000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
31000
vsat Period Of In Orbit Performance Incentive Payments Including Interest
PeriodOfInOrbitPerformanceIncentivePaymentsIncludingInterest
P15Y
vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
FiniteLivedIntangibleAssetPatentAndOtherLicensesAmortizationExpense
0
vsat Payments Of Discount On Debt Repayment
PaymentsOfDiscountOnDebtRepayment
vsat Amortization Of Acquired Intangible Asset
AmortizationOfAcquiredIntangibleAsset
10949000
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 Non Cash Loss On Extinguishment Of Debt
NonCashLossOnExtinguishmentOfDebt
vsat Proceeds From Premium On Debt Issuance
ProceedsFromPremiumOnDebtIssuance
vsat Products Warranty Period Maximum
ProductsWarrantyPeriodMaximum
P5Y
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EarningsPerShareDiluted
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CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44189000 shares
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44189000 shares
CY2012Q4 us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
1700000
CY2012Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20710000
CY2012Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2012Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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SalesRevenueGoodsNet
164694000
CY2012Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20776000
CY2012Q4 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5800000
CY2012Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
38000
CY2012Q4 us-gaap Profit Loss
ProfitLoss
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CY2012Q4 us-gaap Gains Losses On Extinguishment Of Debt
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CY2012Q4 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
0
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OperatingIncomeLoss
1266000
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121748000
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-55000
CY2012Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
66000
CY2012Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
121000
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286442000
CY2012Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
162000
CY2012Q4 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
700000
CY2012Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
162000
CY2012Q4 us-gaap Cost Of Services
CostOfServices
92145000
CY2012Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
119250000
CY2012Q4 us-gaap Share Based Compensation
ShareBasedCompensation
7000000
CY2012Q4 us-gaap Interest Expense
InterestExpense
10672000
CY2012Q4 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
6600000
CY2012Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7612000
CY2012Q4 us-gaap Loss On Contracts
LossOnContracts
600000
CY2012Q4 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
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 vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
FiniteLivedIntangibleAssetPatentAndOtherLicensesAmortizationExpense
0
CY2012Q4 vsat Amortization Of Acquired Intangible Asset
AmortizationOfAcquiredIntangibleAsset
3960000
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45935000 shares
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2014Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-200000
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45935000 shares
CY2014Q1 us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
2300000
CY2014Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5840000
CY2014Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-5807000
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7642000
CY2014Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
193846000
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5993000
CY2014Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2512000
CY2014Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
3000
CY2014Q1 us-gaap Profit Loss
ProfitLoss
-5960000
CY2014Q1 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
0
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1524000
CY2014Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
138709000
CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
247000
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
153000
CY2014Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-94000
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
332555000
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
33000
CY2014Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2500000
CY2014Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
33000
CY2014Q1 us-gaap Cost Of Services
CostOfServices
102606000
CY2014Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
140530000
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8700000
CY2014Q1 us-gaap Interest Expense
InterestExpense
9169000
CY2014Q1 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
11400000
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15143000
CY2014Q1 us-gaap Loss On Contracts
LossOnContracts
1700000
CY2014Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2014Q1 us-gaap Advertising Expense
AdvertisingExpense
5400000
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
69100000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1682000
CY2014Q1 vsat Finite Lived Intangible Asset Patent And Other Licenses Amortization Expense
FiniteLivedIntangibleAssetPatentAndOtherLicensesAmortizationExpense
0
CY2014Q1 vsat Amortization Of Acquired Intangible Asset
AmortizationOfAcquiredIntangibleAsset
3652000

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