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Viasat Partners ReadyNet for Digital Inclusion in Jamaica

Zacks Equity Research

Viasat, Inc. VSAT, in concert with ReadyNet — a major operator in Jamaica — has publicly demonstrated how its high-speed satellite Internet service could support connect communities and businesses across the country. The company’s advanced satellite technology facilitates rural and urban communities to access the Internet while bringing social and digital inclusion nation-wide. Satellite broadband plans for Jamaican-based enterprises, businesses and government initiatives, using the ViaSat-2 satellite system, are presently available through ReadyNet.

The exhibition took place in Portland, Jamaica, a community located on the northeast coast of the island, and showcased the power of the ViaSat-2 satellite to deliver high-quality connectivity and broadband satellite speeds. It also showed how businesses and government organizations could dependably connect to critical business applications such as cloud-based partnership, Voice-over-IP and point-of-sale transactions among others.

Markedly, the collaboration between Viasat and ReadyNet aims to create an opportunity for many Jamaican business owners and government officials by using satellite broadband in new ways. Through Viasat’s high-speed satellite Internet service, ReadyNet could offer an economical solution that can be quickly installed and be online anywhere across the island. They intend to deliver Viasat’s satellite Internet service to connect multiple Caribbean territories.

It is worth noting that Jamaica government agencies, including the Ministry of Science, Energy and Technology, have been assessing various Internet alternatives, including expensive terrestrial-based Internet services like cable and fiber. The display showed that satellite Internet was strong alternative — fast to deploy, high-quality and most economical in areas that are underserved as Viasat’s satellite solution did not require huge ground infrastructure investment.

At present, the satellite and wireless networking technology provider and ReadyNet have deployed four sites across Jamaica, including government and education facilities in Portland, Westmoreland, Rockfort and Kenilworth.

Driven by diligent execution of operational strategies, shares of Viasat have rallied 29.3% compared with the industry’s growth of 13.1% in the year-to-date period.

Further, Viasat is ramping up investments in the development of its revolutionary ViaSat-3 broadband communications platform, which will boast nearly 10 times the bandwidth capacity of ViaSat-2.

The ViaSat-3 platform will help form a global broadband network, with sufficient capacity to allow better consumer choices with an affordable, high-quality, high-speed Internet and video streaming service. Significant market traction of ViaSat-1 and ViaSat-2 satellites, coupled with strategically planned ViaSat-3 satellites, is expected to provide the company with a solid competitive edge over its peers, thereby bolstering growth in the long-run.

The ViaSat-3 class of Ka-band satellites is expected to provide unparalleled capabilities in terms of service speed and flexibility for a satellite platform. While the first two satellites will focus on the Americas and on Europe, Middle East and Africa, respectively, the third one is planned for the Asia-Pacific region, completing Viasat’s global service coverage.

Zacks Rank & Other Stocks to Consider

Viasat currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the industry include PCTEL, Inc. PCTI, Nokia Corp. NOK and Sonim Technologies, Inc. SONM. While currently PCTEL sports a Zacks Rank #1 (Strong Buy), Nokia and Sonim carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

PCTEL surpassed earnings estimates thrice in the trailing four quarters, the average positive surprise being 146.4%.

Nokia surpassed earnings estimates thrice in the trailing four quarters, the average positive surprise being 89.3%.

Sonim has long-term earnings growth expectation of 25%.

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