CARLSBAD, Calif. (AP) _ ViaSat Inc. (VSAT) on Tuesday reported fiscal fourth-quarter earnings of $1.6 million.
The Carlsbad, California-based company said it had net income of 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The provider of satellite and wireless networking technology posted revenue of $591.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $589.4 million.
For the year, the company reported that its loss narrowed to $212,000. Revenue was reported as $2.31 billion.
ViaSat shares have decreased 38% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $45.20, a fall of 49% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VSAT at https://www.zacks.com/ap/VSAT
Automated Insights, source Associated Press News