$VSAT
VIASAT INC

2016 Q2 Form 10-Q Financial Statement

#000119312516676890 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $363.1M $344.4M
YoY Change 5.45% 0.14%
Cost Of Revenue $127.6M $117.6M
YoY Change 8.48% -53.11%
Gross Profit $235.5M $226.8M
YoY Change 3.87% 143.31%
Gross Profit Margin 64.87% 65.85%
Selling, General & Admin $79.40M $71.11M
YoY Change 11.66% -4.04%
% of Gross Profit 33.71% 31.36%
Research & Development $25.18M $15.61M
YoY Change 61.31% -5.98%
% of Gross Profit 10.69% 6.88%
Depreciation & Amortization $49.77M $46.21M
YoY Change 7.72% -6.47%
% of Gross Profit 21.13% 20.38%
Operating Expenses $104.6M $86.72M
YoY Change 20.6% -8.04%
Operating Profit $7.778M $9.414M
YoY Change -17.38% -955.82%
Interest Expense $5.134M $6.584M
YoY Change -22.02% -175.68%
% of Operating Profit 66.01% 69.94%
Other Income/Expense, Net
YoY Change
Pretax Income $2.967M $3.526M
YoY Change -15.85% -135.62%
Income Tax $810.0K $1.007M
% Of Pretax Income 27.3% 28.56%
Net Earnings $2.157M $2.519M
YoY Change -14.37% -171.97%
Net Earnings / Revenue 0.59% 0.73%
Basic Earnings Per Share $0.04 $0.05
Diluted Earnings Per Share $0.04 $0.05
COMMON SHARES
Basic Shares Outstanding 49.13M shares 47.92M shares
Diluted Shares Outstanding 50.17M shares 48.84M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.30M $52.30M
YoY Change -9.56% -10.29%
Cash & Equivalents $47.25M $52.26M
Short-Term Investments
Other Short-Term Assets $5.466M $4.596M
YoY Change 18.93% 68.41%
Inventory $155.5M $128.4M
Prepaid Expenses $47.99M $40.11M
Receivables $262.7M $266.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $518.9M $491.7M
YoY Change 5.54% -7.51%
LONG-TERM ASSETS
Property, Plant & Equipment $1.463B $1.180B
YoY Change 23.95% 12.13%
Goodwill $116.6M $117.2M
YoY Change -0.58% 40.2%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $361.9M $326.9M
YoY Change 10.7% 27.21%
Total Long-Term Assets $1.972B $1.656B
YoY Change 19.12% 15.91%
TOTAL ASSETS
Total Short-Term Assets $518.9M $491.7M
Total Long-Term Assets $1.972B $1.656B
Total Assets $2.491B $2.147B
YoY Change 16.01% 9.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $94.41M $76.93M
YoY Change 22.72% -22.18%
Accrued Expenses $156.9M $191.3M
YoY Change -18.0% 8.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $277.0K $260.0K
YoY Change 6.54% -85.99%
Total Short-Term Liabilities $251.3M $268.3M
YoY Change -6.32% -2.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.034B $806.4M
YoY Change 28.23% 16.91%
Other Long-Term Liabilities $37.90M $40.00M
YoY Change -5.24% -18.2%
Total Long-Term Liabilities $1.034B $846.4M
YoY Change 22.17% 14.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $251.3M $268.3M
Total Long-Term Liabilities $1.034B $846.4M
Total Liabilities $1.323B $1.115B
YoY Change 18.72% 9.98%
SHAREHOLDERS EQUITY
Retained Earnings $275.6M $252.0M
YoY Change 9.36% 19.08%
Common Stock $887.6M $786.5M
YoY Change 12.86% 1.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change -100.0%
Treasury Stock Shares
Shareholders Equity $1.162B $1.039B
YoY Change
Total Liabilities & Shareholders Equity $2.491B $2.158B
YoY Change 15.42% 10.11%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $2.157M $2.519M
YoY Change -14.37% -171.97%
Depreciation, Depletion And Amortization $49.77M $46.21M
YoY Change 7.72% -6.47%
Cash From Operating Activities $62.10M $78.10M
YoY Change -20.49% 11.25%
INVESTING ACTIVITIES
Capital Expenditures $120.6M $65.95M
YoY Change 82.82% -189.13%
Acquisitions $3.613M
YoY Change
Other Investing Activities $504.0K -$900.0K
YoY Change -156.0%
Cash From Investing Activities -$142.1M -$110.0M
YoY Change 29.18% 48.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 85.30M -13.20M
YoY Change -746.21% -164.08%
NET CHANGE
Cash From Operating Activities 62.10M 78.10M
Cash From Investing Activities -142.1M -110.0M
Cash From Financing Activities 85.30M -13.20M
Net Change In Cash 5.300M -45.10M
YoY Change -111.75% -368.45%
FREE CASH FLOW
Cash From Operating Activities $62.10M $78.10M
Capital Expenditures $120.6M $65.95M
Free Cash Flow -$58.48M $12.15M
YoY Change -581.45% -91.58%

Facts In Submission

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CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
71107000
CY2015Q2 us-gaap Stock Issued1
StockIssued1
11609000
CY2015Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1915000
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47918000 shares
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15608000
CY2015Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
176030000
CY2015Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-372000
CY2015Q2 us-gaap Profit Loss
ProfitLoss
2519000
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
10709000
CY2015Q2 vsat Incremental Common Shares Attributable To Restricted Stock Units To Acquire Common Stock
IncrementalCommonSharesAttributableToRestrictedStockUnitsToAcquireCommonStock
402000 shares
CY2015Q2 vsat Amortization Of Acquired Intangible Asset
AmortizationOfAcquiredIntangibleAsset
4810000
CY2015Q2 vsat Incremental Common Shares Attributable To Potentially Issuable Per Employee Profit Sharing Plan And To Stock Issued Per Employee Stock Purchase Plan
IncrementalCommonSharesAttributableToPotentiallyIssuablePerEmployeeProfitSharingPlanAndToStockIssuedPerEmployeeStockPurchasePlan
174000 shares
CY2016Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
7700000
CY2016Q2 dei Entity Registrant Name
EntityRegistrantName
VIASAT INC
CY2016Q2 us-gaap Advertising Expense
AdvertisingExpense
800000
CY2016Q2 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
21000000
CY2016Q2 dei Document Type
DocumentType
10-Q
CY2016Q2 dei Entity Central Index Key
EntityCentralIndexKey
0000797721
CY2016Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14398000
CY2016Q2 us-gaap Concentration Risk Government Contracts
ConcentrationRiskGovernmentContracts
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 concluded for fiscal year 2016. As of June 30, 2016, the DCAA had completed its incurred cost audit for fiscal year 2004 and approved the Company’s incurred cost claims for fiscal years 2005 through 2015 without further audit. Although the Company has recorded contract revenues subsequent to fiscal year 2015 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.
CY2016Q2 dei Document Period End Date
DocumentPeriodEndDate
2016-06-30
CY2016Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5164000
CY2016Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
21798000
CY2016Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2016Q2 dei Amendment Flag
AmendmentFlag
false
CY2016Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
991000
CY2016Q2 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2016Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10226000
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2016Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1937000
CY2016Q2 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-180000
CY2016Q2 us-gaap Depreciation
Depreciation
49772000
CY2016Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2016Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
120680000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
302000
CY2016Q2 us-gaap Cost Of Services
CostOfServices
127582000
CY2016Q2 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
-500000
CY2016Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-183000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
363130000
CY2016Q2 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
504000
CY2016Q2 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-7636000
CY2016Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1146000
CY2016Q2 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
6709000
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
302000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2967000
CY2016Q2 us-gaap Interest Expense
InterestExpense
5134000
CY2016Q2 us-gaap Loss On Contracts
LossOnContracts
400000
CY2016Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-142084000
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-764000
CY2016Q2 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
6322000
CY2016Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-21938000
CY2016Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
10200000
CY2016Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-100000
CY2016Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-18340000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1855000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-864000
CY2016Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
11737000
CY2016Q2 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
8835000
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
289000 shares
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
7778000
CY2016Q2 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
21003000
CY2016Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
85310000
CY2016Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
323000
CY2016Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-8088000
CY2016Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1937000
CY2016Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2872000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
810000
CY2016Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
62118000
CY2016Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2761000
CY2016Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
120577000
CY2016Q2 us-gaap Revenue Recognition Multiple Element Arrangements
RevenueRecognitionMultipleElementArrangements
<div> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 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-BOTTOM: 0px; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 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. The Company also considers specific renewal rates offered to customers for software license updates, product support and hardware systems support, and other services. 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), volume commitments 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&#x2019;s, 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>
CY2016Q2 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>
CY2016Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1293000
CY2016Q2 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><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 June 30, 2016 and March 31, 2016, no such amounts were accrued related to the aforementioned provisions.</font></p> </div>
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
160676000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50170000 shares
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
79400000
CY2016Q2 us-gaap Stock Issued1
StockIssued1
13080000
CY2016Q2 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
13080000
CY2016Q2 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 12px; 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>
CY2016Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2149000
CY2016Q2 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1000000
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49133000 shares
CY2016Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1817000
CY2016Q2 dei Trading Symbol
TradingSymbol
VSAT
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
25177000
CY2016Q2 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>
CY2016Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
202454000
CY2016Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
4892000
CY2016Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-376000
CY2016Q2 us-gaap Profit Loss
ProfitLoss
2157000
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
12761000
CY2016Q2 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 June&#xA0;30, 2016 and 2015, the Company recorded losses of approximately $0.4 million and $1.4 million, respectively, related to loss contracts.</font></p> </div>
CY2016Q2 vsat Incremental Common Shares Attributable To Restricted Stock Units To Acquire Common Stock
IncrementalCommonSharesAttributableToRestrictedStockUnitsToAcquireCommonStock
564000 shares
CY2016Q2 vsat Products Warranty Period Maximum
ProductsWarrantyPeriodMaximum
P5Y
CY2016Q2 vsat Amortization Of Acquired Intangible Asset
AmortizationOfAcquiredIntangibleAsset
2513000
CY2016Q2 vsat Other Noncontrolling Interest Activities
OtherNoncontrollingInterestActivities
13000
CY2016Q2 vsat Incremental Common Shares Attributable To Potentially Issuable Per Employee Profit Sharing Plan And To Stock Issued Per Employee Stock Purchase Plan
IncrementalCommonSharesAttributableToPotentiallyIssuablePerEmployeeProfitSharingPlanAndToStockIssuedPerEmployeeStockPurchasePlan
184000 shares

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