ViaSat announced financial results for the fiscal fourth quarter ended March 31, 2016.
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In the fiscal fourth quarter of 2016, ViaSat's Satellite Services segment achieved record high revenues for the third consecutive quarter, up 12% year-over-year, with continued growth in its residential broadband and in-flight connectivity businesses.
Adjusted EBITDA performance for the fiscal fourth quarter also grew, up 21% over last year's period, driving the segment's Adjusted EBITDA margin up to 44%.
Consumer subscribers reached 697,000 at the end of the fiscal fourth quarter, up 2% year-over-year.
Average revenue per user (ARPU) in the residential business grew by 7% year-over-year to $58.46, a new record, as higher value plans expanded alongside growth from value-added services such as VoIP and Boost 25, the Company's new 25 Mbps broadband internet service.
ViaSat's in-flight internet services grew steadily to 476 commercial aircraft in service at the end of fiscal year 2016. Revenue per plane also increased as ViaSat's leading Ka-band service continued to drive passenger engagement.
ViaSat announced that Qantas Airways, Australia's largest domestic and international airline, has become the first Asia Pacific airline to select ViaSat's in-flight internet service, and the first airline in the region to choose its hybrid Ku-/Ka-band antenna for connecting to the ViaSat global satellite network.
Subsequent to the fiscal fourth quarter end, ViaSat announced it signed a multi-year agreement with Dassault Aviation to deliver a bundled global Ku-band broadband services offering, inclusive of in-cabin network equipment and in-flight connectivity service for Dassault Aviation Falcon aircraft.
In the fourth quarter of fiscal year 2016, ViaSat's Government Systems segment revenues and Adjusted EBITDA reached record highs for the second consecutive quarter. Revenue increased to $164.4 million, or 9% growth year-over-year, while Adjusted EBITDA grew 22% to $43.5 million compared to the prior fiscal year period.
Revenue growth reflected an increase in government satellite communications systems products and tactical data link products sales, partially offset by lower information assurance products revenues.
In the fourth quarter of fiscal year 2016, ViaSat's Government Systems segment revenues and Adjusted EBITDA reached record highs for the second consecutive quarter. Revenue increased to $164.4 million, or 9% growth year-over-year, while Adjusted EBITDA grew 22% to $43.5 million compared to the prior fiscal year period. ■