|
ViaSat
has reported record sales and earnings for its third quarter
of fiscal year 2002, ended 31 December, 2001. ViaSat claims
to produce advanced digital satellite telecommunications
and wireless signal processing equipment for commercial
and government markets. It claims to be a market leader
in Ka-band satellite systems, from user terminals to large
gateways for both geosynchronous and low earth orbit systems.
It has field offices in India, China, Boston, the United
Kingdom, Australia.
Sales
for the quarter were $50.1 million compared to $43.1 million
for the comparable quarter last year, a 16.2 per cent increase.
Net income, which includes the effects of acquisition charges,
for the third quarter of fiscal year 2002 decreased 11 per
cent to $2.4 million compared to net income of $2.7 million
for the third quarter of the prior year. Sales increased
24.3 per cent to $148.4 million for the nine months ended
December 31, 2001, compared to $119.4 million in sales for
the same period last year.
Business
Highlights include:
1.
ViaSat reached agreement and subsequently completed the
acquisition of US Monolithics (USM) for approximately $30
million in cash and stock. USM is a designer of proprietary
gallium arsenide millimeter wave Integrated Circuits (MMICs)
with strong capabilities in the packaging and integration
of subsystems including power amplifiers, block upconverters
and entire transceivers, especially in complex high-frequency
applications. USM is expected to improve ViaSat's margins
on existing product lines, as well as on large broadband
opportunities that ViaSat is pursuing.
2.
Although selected in February 2001, this quarter ViaSat
received an order from Boeing for the development and initial
production quantities of the receive and transmit subsystem
for the Connexion by Boeing broadband Internet and data
communication service. Also during the quarter, ViaSat delivered
initial production units to the venture, in support of two-way
broadband demonstrations for their customers, including
private aircraft owners and agencies of the United States
government.
Click
here for more headlines
|
