$VSAT
VIASAT INC

2017 Q1 Form 10-Q Financial Statement

#000119312517036269 Filed on February 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2015 Q4
Revenue $416.4M $380.6M $347.8M
YoY Change 11.94% 9.45% -3.07%
Cost Of Revenue $274.1M $131.0M $123.8M
YoY Change 4.42% 5.81% 10.9%
Gross Profit $142.3M $249.7M $224.0M
YoY Change 30.07% 11.46% -9.37%
Gross Profit Margin 34.17% 65.59% 64.41%
Selling, General & Admin $96.60M $80.28M $76.35M
YoY Change 24.65% 5.15% 40.34%
% of Gross Profit 67.88% 32.16% 34.09%
Research & Development $39.90M $34.44M $19.17M
YoY Change 84.72% 79.64% 66.01%
% of Gross Profit 28.04% 13.79% 8.56%
Depreciation & Amortization $62.50M $61.60M $63.70M
YoY Change 4.17% -3.3% 17.31%
% of Gross Profit 43.92% 24.67% 28.44%
Operating Expenses $139.6M $114.7M $95.52M
YoY Change 36.86% 20.1% 44.83%
Operating Profit $2.700M $7.591M $10.39M
YoY Change -63.51% -26.9% -77.65%
Interest Expense -$100.0K $2.362M $6.063M
YoY Change -98.33% -61.04% -27.28%
% of Operating Profit -3.7% 31.12% 58.38%
Other Income/Expense, Net
YoY Change
Pretax Income $2.600M $5.472M $4.839M
YoY Change 73.33% 13.08% -87.42%
Income Tax -$1.600M $850.0K -$5.105M
% Of Pretax Income -61.54% 15.53% -105.5%
Net Earnings $6.700M $4.622M $9.944M
YoY Change 48.89% -53.52% -58.55%
Net Earnings / Revenue 1.61% 1.21% 2.86%
Basic Earnings Per Share $0.08 $0.20
Diluted Earnings Per Share $114.3K $0.08 $0.20
COMMON SHARES
Basic Shares Outstanding 57.59M shares 52.98M shares 48.71M shares
Diluted Shares Outstanding 54.02M shares 49.63M shares

Balance Sheet

Concept 2017 Q1 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $130.1M $284.9M $63.90M
YoY Change 209.03% 345.85% 52.51%
Cash & Equivalents $130.1M $284.9M $63.86M
Short-Term Investments
Other Short-Term Assets $5.980M $3.973M $115.8M
YoY Change 3.12% -96.57% 2437.8%
Inventory $163.2M $158.5M $141.3M
Prepaid Expenses $51.86M $49.59M
Receivables $263.7M $254.8M $259.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $614.9M $751.7M $580.7M
YoY Change 17.89% 29.45% 10.45%
LONG-TERM ASSETS
Property, Plant & Equipment $1.649B $1.587B $1.338B
YoY Change 19.05% 18.64% 25.59%
Goodwill $119.9M $119.6M
YoY Change 2.42%
Intangibles
YoY Change
Long-Term Investments $141.9M
YoY Change
Other Assets $529.4M $380.3M $97.20M
YoY Change 55.69% 291.3% -61.91%
Total Long-Term Assets $2.340B $2.131B $1.755B
YoY Change 24.74% 21.42% 17.89%
TOTAL ASSETS
Total Short-Term Assets $614.9M $751.7M $580.7M
Total Long-Term Assets $2.340B $2.131B $1.755B
Total Assets $2.955B $2.883B $2.336B
YoY Change 23.25% 23.41% 15.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $100.3M $79.49M $82.10M
YoY Change 4.84% -3.19% 10.3%
Accrued Expenses $225.0M $199.1M $57.60M
YoY Change 22.03% 245.61% -66.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $288.0K $284.0K $300.0K
YoY Change 5.11% -5.33% -71.59%
Total Short-Term Liabilities $325.5M $278.6M $248.9M
YoY Change 16.26% 11.91% 1.48%
LONG-TERM LIABILITIES
Long-Term Debt $848.5M $847.1M $937.0M
YoY Change -10.26% -9.59% 29.4%
Other Long-Term Liabilities $3.000M $38.50M $36.00M
YoY Change 24900.0% 6.94% -17.4%
Total Long-Term Liabilities $851.5M $847.1M $973.0M
YoY Change -9.95% -12.93% 26.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $325.5M $278.6M $248.9M
Total Long-Term Liabilities $851.5M $847.1M $973.0M
Total Liabilities $1.217B $1.166B $1.227B
YoY Change -3.66% -4.95% 21.15%
SHAREHOLDERS EQUITY
Retained Earnings $297.5M $290.8M
YoY Change 8.68%
Common Stock $1.440B $1.423B
YoY Change 68.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.735B $1.711B $1.109B
YoY Change
Total Liabilities & Shareholders Equity $2.955B $2.883B $2.336B
YoY Change 23.25% 23.41% 15.95%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income $6.700M $4.622M $9.944M
YoY Change 48.89% -53.52% -58.55%
Depreciation, Depletion And Amortization $62.50M $61.60M $63.70M
YoY Change 4.17% -3.3% 17.31%
Cash From Operating Activities $98.60M $121.1M $112.0M
YoY Change 27.39% 8.13% 0.36%
INVESTING ACTIVITIES
Capital Expenditures -$139.5M -$147.7M -$165.7M
YoY Change 21.41% -10.86% 160.53%
Acquisitions
YoY Change
Other Investing Activities -$112.1M -$16.60M -$300.0K
YoY Change 6127.78% 5433.33%
Cash From Investing Activities -$251.6M -$164.3M -$166.0M
YoY Change 115.6% -1.02% 161.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.200M 277.1M 71.50M
YoY Change -106.9% 287.55% -211.89%
NET CHANGE
Cash From Operating Activities 98.60M 121.1M 112.0M
Cash From Investing Activities -251.6M -164.3M -166.0M
Cash From Financing Activities -1.200M 277.1M 71.50M
Net Change In Cash -154.2M 233.9M 17.50M
YoY Change 604.11% 1236.57% -210.06%
FREE CASH FLOW
Cash From Operating Activities $98.60M $121.1M $112.0M
Capital Expenditures -$139.5M -$147.7M -$165.7M
Free Cash Flow $238.1M $268.8M $277.7M
YoY Change 23.82% -3.2% 58.5%

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us-gaap Interest And Other Income
InterestAndOtherIncome
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
131713000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
17340000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
488298000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Stock Issued1
StockIssued1
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us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Profit Loss
ProfitLoss
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us-gaap Share Based Compensation
ShareBasedCompensation
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vsat Incremental Common Shares Attributable To Restricted Stock Units To Acquire Common Stock
IncrementalCommonSharesAttributableToRestrictedStockUnitsToAcquireCommonStock
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vsat Amortization Of Acquired Intangible Asset
AmortizationOfAcquiredIntangibleAsset
13658000
dei Document Period End Date
DocumentPeriodEndDate
2016-12-31
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
242855000
us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
58300000
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000797721
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
44807000
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 December 31, 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.
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10918000
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
21150000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
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us-gaap Depreciation
Depreciation
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
14644000
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
32517000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
401000
us-gaap Cost Of Services
CostOfServices
392790000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
22774000
us-gaap Interest Expense
InterestExpense
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us-gaap Loss On Contracts
LossOnContracts
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-463413000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
6677000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3083000
us-gaap Sales Revenue Net
SalesRevenueNet
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
649000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
34219000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2495000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
22403000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
401000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Interest Costs Capitalized
InterestCostsCapitalized
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
16528000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-7827000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17117000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2473000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
9752000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
11123000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
265000 shares
us-gaap Operating Income Loss
OperatingIncomeLoss
33783000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Interest And Other Income
InterestAndOtherIncome
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
393960000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
21150000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
390223000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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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) <font style="WHITE-SPACE: nowrap">2009-13</font> (ASU <font style="WHITE-SPACE: nowrap">2009-13),</font> Revenue Recognition (ASC 605) Multiple-Deliverable Revenue Arrangements, which updates ASC <font style="WHITE-SPACE: nowrap">605-25,</font> 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. 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 <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">go-to-market</font></font> strategy. As the Company&#x2019;s, or its competitors&#x2019;, pricing and <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">go-to-market</font></font> 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 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 Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
15045000
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 December&#xA0;31, 2016 and March&#xA0;31, 2016, no such amounts were accrued related to the aforementioned provisions.</font></p> </div>
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
517485000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51647000 shares
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Stock Issued1
StockIssued1
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us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
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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>
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
6108000
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
3300000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50542000 shares
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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dei Trading Symbol
TradingSymbol
VSAT
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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us-gaap Revenue Recognition Deferred Revenue
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; 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 Sales Revenue Services Net
SalesRevenueServicesNet
625433000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Profit Loss
ProfitLoss
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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us-gaap Revenue Recognition Percentage Of Completion Method
RevenueRecognitionPercentageOfCompletionMethod
<div> <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 <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">percentage-of-completion</font></font> method of accounting (Accounting Standards Codification (ASC) <font style="WHITE-SPACE: nowrap">605-35).</font> 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 <font style="WHITE-SPACE: nowrap"><font style="WHITE-SPACE: nowrap">units-of-delivery</font></font> method. Anticipated losses on contracts are recognized in full in the period in which losses become probable and estimable. Changes in estimates of profit or loss on contracts are included in earnings on a cumulative basis in the period the estimate is changed. During the three months ended December&#xA0;31, 2016 and 2015, the Company recorded losses of approximately $0.8&#xA0;million and $0.4&#xA0;million, respectively, related to loss contracts. During the nine months ended December&#xA0;31, 2016 and 2015, the Company recorded losses of approximately $2.8&#xA0;million and $2.1&#xA0;million, respectively, related to loss contracts.</font></p> </div>
vsat Incremental Common Shares Attributable To Restricted Stock Units To Acquire Common Stock
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656000 shares
vsat Products Warranty Period Maximum
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vsat Amortization Of Acquired Intangible Asset
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7565000
vsat Other Noncontrolling Interest Activities
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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
CY2015Q4 us-gaap Capitalized Computer Software Amortization1
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CY2015Q4 us-gaap Advertising Expense
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CY2015Q4 us-gaap Capitalized Computer Software Additions
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CY2015Q4 us-gaap Earnings Per Share Basic
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CostOfGoodsSold
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CY2015Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2015Q4 us-gaap Cost Of Services
CostOfServices
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CY2015Q4 us-gaap Sales Revenue Net
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CY2015Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2015Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2015Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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9621000
CY2015Q4 us-gaap Sales Revenue Goods Net
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156290000
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2015Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2015Q4 us-gaap Sales Revenue Services Net
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CY2015Q4 us-gaap Profit Loss
ProfitLoss
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CY2015Q4 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2015Q4 vsat Incremental Common Shares Attributable To Restricted Stock Units To Acquire Common Stock
IncrementalCommonSharesAttributableToRestrictedStockUnitsToAcquireCommonStock
529000 shares
CY2015Q4 vsat Amortization Of Acquired Intangible Asset
AmortizationOfAcquiredIntangibleAsset
4261000
CY2015Q4 vsat Incremental Common Shares Attributable To Potentially Issuable Per Employee Profit Sharing Plan And To Stock Issued Per Employee Stock Purchase Plan
IncrementalCommonSharesAttributableToPotentiallyIssuablePerEmployeeProfitSharingPlanAndToStockIssuedPerEmployeeStockPurchasePlan
160000 shares
CY2016Q4 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
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CY2016Q4 us-gaap Advertising Expense
AdvertisingExpense
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CY2016Q4 us-gaap Capitalized Computer Software Additions
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CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2016Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2788000
CY2016Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
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CY2016Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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379000
CY2016Q4 us-gaap Cost Of Services
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CY2016Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2016Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2016Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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235000 shares
CY2016Q4 us-gaap Operating Income Loss
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CY2016Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2016Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2016Q4 us-gaap Interest Expense
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CY2016Q4 us-gaap Loss On Contracts
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CY2016Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2016Q4 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
13400000
CY2016Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2016Q4 us-gaap Income Tax Expense Benefit
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CY2016Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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3167000
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
169574000
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54015000 shares
CY2016Q4 us-gaap Selling General And Administrative Expense
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80282000
CY2016Q4 us-gaap Unrecognized Tax Benefits Period Increase Decrease
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1200000
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52976000 shares
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
34436000
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SalesRevenueServicesNet
211056000
CY2016Q4 us-gaap Profit Loss
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4622000
CY2016Q4 us-gaap Share Based Compensation
ShareBasedCompensation
14500000
CY2016Q4 vsat Incremental Common Shares Attributable To Restricted Stock Units To Acquire Common Stock
IncrementalCommonSharesAttributableToRestrictedStockUnitsToAcquireCommonStock
629000 shares
CY2016Q4 vsat Amortization Of Acquired Intangible Asset
AmortizationOfAcquiredIntangibleAsset
2775000
CY2016Q4 vsat Incremental Common Shares Attributable To Potentially Issuable Per Employee Profit Sharing Plan And To Stock Issued Per Employee Stock Purchase Plan
IncrementalCommonSharesAttributableToPotentiallyIssuablePerEmployeeProfitSharingPlanAndToStockIssuedPerEmployeeStockPurchasePlan
175000 shares

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vsat-20161231.xml Edgar Link completed
vsat-20161231.xsd Edgar Link pending
vsat-20161231_cal.xml Edgar Link unprocessable
vsat-20161231_def.xml Edgar Link unprocessable
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