Viasat Inc Reports 7% Drop In Q1 Profit

(RTTNews) - Viasat Inc (VSAT) reported earnings for first quarter that decreased compared to the same period last year.

The company said its bottom line dropped to $11.3 million, or $0.23 per share. This was lower than $12.1 million, or $0.25 per share, in last year's first quarter.

Analysts had expected the company to earn $0.26 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 5.4% to $363.1 million. This was up from $344.4 million last year.

Viasat Inc earnings at a glance:

-Earnings (Q1): $11.3 Mln. vs. $12.1 Mln. last year. -Earnings Decline (Y-o-Y): -6.6% -EPS (Q1): $0.23 vs. $0.25 last year. -EPS Decline (Y-o-Y): -8.0% -Analysts Estimate: $0.26 -Revenue (Q1): $363.1 Mln vs. $344.4 Mln last year. -Revenue Change (Y-o-Y): 5.4%