ViaSat Inc. (Nasdaq: VSAT) has announced financial results for the third quarter ended January 1, 2010(1). The fiscal third quarter results include new contract awards of $157.1 million and revenues of $156.4 million. Fiscal year-to-date, ViaSat reported new contract awards of $503.4 million and revenues of $475.4 million. For the third quarter, the company also reported net income attributable to ViaSat common stockholders of $0.39 per share on a diluted non-GAAP basis or $0.09 per share on a diluted GAAP basis. Fiscal year-to-date, the company reported net income attributable to ViaSat common stockholders of $1.12 per share on a diluted non-GAAP basis or $0.62 per share on a diluted GAAP basis.

"This quarter concludes a whirlwind period for ViaSat, as we completed the WildBlue acquisition and the associated financing activities well ahead of schedule. Excluding non-recurring acquisition expenses, WildBlue is generating incremental earnings - contributing to solid earnings and cash flow for the quarter. The accelerated close yields significantly lower acquisition expenses and cash tax savings relative to our plans, and helps our preparations for introducing the ViaSat-1 satellite," said Mark Dankberg, ViaSat CEO and chairman. "Meanwhile, product margins this quarter were very good, but federal budget issues led to a December quarter contraction in sector-wide defense procurement and R&D spending - delaying orders for us and restraining revenue growth in the quarter. We believe our defense satellite, tactical data link, and cyber security offerings remain well-positioned for growth as Department of Defense spending commitments align with budget plans and program priorities. Combined with our strategic entry into Ka-band satellite services, we see opportunities for significant growth in fiscal 2011 and beyond."

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