U.S. markets open in 1 hour 20 minutes
  • S&P Futures

    3,257.75
    -5.75 (-0.18%)
     
  • Dow Futures

    26,306.00
    -103.00 (-0.39%)
     
  • Nasdaq Futures

    11,156.25
    +23.50 (+0.21%)
     
  • Russell 2000 Futures

    1,530.50
    -8.70 (-0.57%)
     
  • Crude Oil

    35.78
    -1.61 (-4.31%)
     
  • Gold

    1,871.80
    -7.40 (-0.39%)
     
  • Silver

    23.07
    -0.29 (-1.24%)
     
  • EUR/USD

    1.1705
    -0.0044 (-0.37%)
     
  • 10-Yr Bond

    0.7810
    0.0000 (0.00%)
     
  • Vix

    40.54
    +7.19 (+21.56%)
     
  • GBP/USD

    1.2946
    -0.0041 (-0.31%)
     
  • USD/JPY

    104.2670
    -0.0340 (-0.03%)
     
  • BTC-USD

    13,060.77
    -102.62 (-0.78%)
     
  • CMC Crypto 200

    258.00
    -14.69 (-5.39%)
     
  • FTSE 100

    5,565.98
    -16.82 (-0.30%)
     
  • Nikkei 225

    23,331.94
    -86.57 (-0.37%)
     

New contracts return ViaSat to profit in 4Q

CARLSBAD, Calif. (AP) -- ViaSat Inc., which provides satellite and wireless networking technology, returned to a profit in its fiscal fourth quarter after a boost from new contracts.

The Carlsbad, Calif., company said late Thursday that it earned $1.9 million, or 4 cents per share, for the quarter that ended March 29. That's compared with a loss of $7.4 million, or 17 cents per share, in the same quarter last year. It earned 19 cents per share when excluding one-time items, versus a loss of a penny per share last year.

ViaSat's revenue increased 28 percent to $308.7 million, with a bump from new contract awards of $227.1 million during the quarter.

Analysts polled by FactSet were anticipating earnings of 2 cents per share on revenue of $286 million.

Sales grew in the company's satellites, commercial networking and government systems divisions, despite budget pressures in the government division, ViaSat said. A steady increase in satellite broadband subscribers and new contracts helped the company's performance.

Shares increased $1.04, or 1.7 percent, to $60.85 in after-hours trading. ViaSat's stock added 10 cents to close regular trading at $59.81 Thursday and has gained 54 percent in 2013.