Viasat Inc Profit Drops 54% In Q2

(RTTNews) - Viasat Inc (VSAT) announced earnings for second quarter that declined compared to the same period last year.

The company said its bottom line dropped to $14.9 million, or $0.30 per share. This was down from $32.4 million, or $0.68 per share, in last year's second quarter.

Analysts had expected the company to earn $0.35 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.5% to $353.3 million. This was down from $358.8 million last year.

Viasat Inc earnings at a glance:

-Earnings (Q2): $14.9 Mln. vs. $32.4 Mln. last year. -Earnings Decline (Y-o-Y): -54.0% -EPS (Q2): $0.30 vs. $0.68 last year. -EPS Decline (Y-o-Y): -55.9% -Analysts Estimate: $0.35 -Revenue (Q2): $353.3 Mln vs. $358.8 Mln last year. -Revenue Change (Y-o-Y): -1.5%