Financial Statements of Parent and Subsidiary Guarantors (Tables)

3 Months Ended

Jul. 01, 2011

Financial Statements of Parent and Subsidiary Guarantors (Tables) [Abstract]

Condensed Consolidated Balance Sheet

Condensed Consolidated Balance Sheet as of July 1, 2011

							Consolidation and
	Issuing Parent		Guarantor		Non-Guarantor		Elimination
	Company		Subsidiaries		Subsidiaries		Adjustments			Consolidated
	(Unaudited, in thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	12,910	$	3,555	$	9,648	$	—		$	26,113
Accounts receivable, net		158,763		11,752		6,551		—			177,066
Inventories		107,911		8,955		8,588		(1,015	)		124,439
Deferred income taxes		16,428		1,723		162		492			18,805
Prepaid expenses and other current assets		16,208		6,240		1,618		—			24,066
Total current assets		312,220		32,225		26,567		(523	)		370,489
Satellites, net		283,923		249,274		—		—			533,197
Property and equipment, net		140,552		97,110		5,604		(43	)		243,223
Other acquired intangible assets, net		5,230		62,103		9,755		—			77,088
Goodwill		63,939		9,687		10,076		—			83,702
Investments in subsidiaries and intercompany receivables		480,692		2,869		563		(484,124	)		—
Other assets		93,078		12,885		583		—			106,546
Total assets	$	1,379,634	$	466,153	$	53,148	$	(484,690	)	$	1,414,245
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	58,481	$	5,329	$	735	$	—		$	64,545
Accrued liabilities		89,169		22,644		3,311		—			115,124
Current portion of other long-term debt		125		1,241		—		—			1,366
Total current liabilities		147,775		29,214		4,046		—			181,035
Senior Notes due 2016, net		272,420		—		—		—			272,420
Other long-term debt		75,172		1,538		—		—			76,710
Intercompany payables		11,191		—		16,029		(27,220	)		—
Other liabilities		16,932		4,691		2,923		—			24,546
Total liabilities		523,490		35,443		22,998		(27,220	)		554,711
Equity:
ViaSat, Inc. stockholders’ equity
Total ViaSat, Inc. stockholders’ equity		856,144		430,710		30,150		(461,421	)		855,583
Noncontrolling interest in subsidiary		—		—		—		3,951			3,951
Total equity		856,144		430,710		30,150		(457,470	)		859,534
Total liabilities and equity	$	1,379,634	$	466,153	$	53,148	$	(484,690	)	$	1,414,245

Condensed Consolidated Balance Sheet as of April 1, 2011

							Consolidation and
	Issuing Parent		Guarantor		Non-Guarantor		Elimination
	Company		Subsidiaries		Subsidiaries		Adjustments			Consolidated
	(Unaudited, in thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	24,347	$	7,600	$	8,543	$	—		$	40,490
Accounts receivable, net		171,183		10,644		10,062		—			191,889
Inventories		88,542		7,484		2,932		(403	)		98,555
Deferred income taxes		16,428		1,723		162		492			18,805
Prepaid expenses and other current assets		15,236		4,745		1,160		—			21,141
Total current assets		315,736		32,196		22,859		89			370,880
Satellites, net		276,418		256,582		—		—			533,000
Property and equipment, net		122,945		103,410		7,785		(1,001	)		233,139
Other acquired intangible assets, net		6,201		65,341		10,347		—			81,889
Goodwill		63,939		9,686		9,907		—			83,532
Investments in subsidiaries and intercompany receivables		490,288		2,246		404		(492,938	)		—
Other assets		89,834		12,922		552		—			103,308
Total assets	$	1,365,361	$	482,383	$	51,854	$	(493,850	)	$	1,405,748
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	62,465	$	8,164	$	1,083	$	—		$	71,712
Accrued liabilities		100,749		25,691		4,143		—			130,583
Current portion of other long-term debt		116		1,012		—		—			1,128
Total current liabilities		163,330		34,867		5,226		—			203,423
Senior Notes due 2016, net		272,296		—		—		—			272,296
Other long-term debt		60,203		1,743		—		—			61,946
Intercompany payables		14,606		—		11,945		(26,551	)		—
Other liabilities		16,464		4,321		3,057		—			23,842
Total liabilities		526,899		40,931		20,228		(26,551	)		561,507
Equity:
ViaSat, Inc. stockholders’ equity
Total ViaSat, Inc. stockholders’ equity		838,462		441,452		31,626		(471,415	)		840,125
Noncontrolling interest in subsidiary		—		—		—		4,116			4,116
Total equity		838,462		441,452		31,626		(467,299	)		844,241
Total liabilities and equity	$	1,365,361	$	482,383	$	51,854	$	(493,850	)	$	1,405,748

Condensed Consolidated Statement of Operations

Condensed Consolidated Statement of Operations for the Three Months Ended July 1, 2011

										Consolidation and
	Issuing Parent			Guarantor			Non-Guarantor			Elimination
	Company			Subsidiaries			Subsidiaries			Adjustments			Consolidated
	(Unaudited, in thousands)
Revenues:
Product revenues	$	118,913		$	652		$	3,250		$	(269	)	$	122,546
Service revenues		17,697			53,351			2,226			(719	)		72,555
Total revenues		136,610			54,003			5,476			(988	)		195,101
Operating expenses:
Cost of product revenues		89,564			757			2,573			(609	)		92,285
Cost of service revenues		10,892			37,136			1,958			(670	)		49,316
Selling, general and administrative		26,615			13,077			2,044			(3	)		41,733
Independent research and development		5,365			—			338			(9	)		5,694
Amortization of acquired intangible assets		970			3,238			564			—			4,772
Income (loss) from operations		3,204			(205	)		(2,001	)		303			1,301
Other income (expense):
Interest income		133			—			2			(109	)		26
Interest expense		—			—			(109	)		109			—
Income (loss) before income taxes		3,337			(205	)		(2,108	)		303			1,327
Provision for (benefit from) income taxes		(20	)		(90	)		(157	)		—			(267	)
Equity in net income (loss) of consolidated subsidiaries		(1,901	)		—			—			1,901			—
Net income (loss)		1,456			(115	)		(1,951	)		2,204			1,594
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—			—			(165	)		(165	)
Net income (loss) attributable to ViaSat, Inc.	$	1,456		$	(115	)	$	(1,951	)	$	2,369		$	1,759

Condensed Consolidated Statement of Operations for the Three Months Ended July 2, 2010

									Consolidation
	Issuing					Non-			and
	Parent			Guarantor		Guarantor			Elimination
	Company			Subsidiaries		Subsidiaries			Adjustments			Consolidated
	(Unaudited, in thousands)
Revenues:
Product revenues	$	125,141		$	551	$	1,342		$	(2,032	)	$	125,002
Service revenues		11,222			53,543		2,655			(418	)		67,002
Total revenues		136,363			54,094		3,997			(2,450	)		192,004
Operating expenses:
Cost of product revenues		95,288			475		944			(1,993	)		94,714
Cost of service revenues		8,004			29,681		1,765			(388	)		39,062
Selling, general and administrative		25,561			12,478		882			—			38,921
Independent research and development		7,261			—		53			—			7,314
Amortization of acquired intangible assets		1,260			3,238		112			—			4,610
Income (loss) from operations		(1,011	)		8,222		241			(69	)		7,383
Other income (expense):
Interest income		225			—		3			(89	)		139
Interest expense		(2,141	)		—		(89	)		89			(2,141	)
Income (loss) before income taxes		(2,927	)		8,222		155			(69	)		5,381
Provision for (benefit from) income taxes		(1,544	)		3,309		216			—			1,981
Equity in net income (loss) of consolidated subsidiaries		4,713			—		—			(4,713	)		—
Net income (loss)		3,330			4,913		(61	)		(4,782	)		3,400
Less: Net income (loss) attributable to noncontrolling interest, net of tax		—			—		—			139			139
Net income (loss) attributable to ViaSat, Inc.	$	3,330		$	4,913	$	(61	)	$	(4,921	)	$	3,261

Condensed Consolidated Statement of Cash Flows

Condensed Consolidated Statement of Cash Flows for the Three Months Ended July 1, 2011

										Consolidation
										and
	Issuing Parent			Guarantor			Non-Guarantor			Elimination
	Company			Subsidiaries			Subsidiaries			Adjustments			Consolidated
	(Unaudited, in thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	(4,303	)	$	12,921		$	291		$	—		$	8,909
Cash flows from investing activities:
Purchase of property, equipment and satellites, net		(30,440	)		(5,897	)		(230	)		—			(36,567	)
Cash paid for patents, licenses and other assets		(4,112	)		—			(7	)		—			(4,119	)
Investment in subsidiaries		(955	)		—			—			955			—
Net cash provided by (used in) investing activities		(35,507	)		(5,897	)		(237	)		955			(40,686	)
Cash flows from financing activities:
Proceeds from line of credit borrowings		15,000			—			—			—			15,000
Proceeds from issuance of common stock under equity plans		4,469			—			—			—			4,469
Purchase of common stock in treasury		(2,165	)		—			—			—			(2,165	)
Intercompany long-term financing		11,069			(11,069	)		955			(955	)		—
Net cash provided by (used in) financing activities		28,373			(11,069	)		955			(955	)		17,304
Effect of exchange rate changes on cash		—			—			96			—			96
Net increase (decrease) in cash and cash equivalents		(11,437	)		(4,045	)		1,105			—			(14,377	)
Cash and cash equivalents at beginning of period		24,347			7,600			8,543			—			40,490
Cash and cash equivalents at end of period	$	12,910		$	3,555		$	9,648		$	—		$	26,113

Condensed Consolidated Statement of Cash Flows for the Three Months Ended July 2, 2010

										Consolidation and
	Issuing Parent			Guarantor			Non-Guarantor			Elimination
	Company			Subsidiaries			Subsidiaries			Adjustments			Consolidated
	(Unaudited, in thousands)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	7,153		$	31,192		$	416		$	(83	)	$	38,678
Cash flows from investing activities:
Purchase of property, equipment and satellites, net		(32,065	)		(8,601	)		(723	)		83			(41,306	)
Cash paid for patents, licenses and other assets		(3,851	)		—			—			—			(3,851	)
Investment in subsidiaries		(1,046	)		100			(148	)		1,094			—
Net cash provided by (used in) investing activities		(36,962	)		(8,501	)		(871	)		1,177			(45,157	)
Cash flows from financing activities:
Payments on line of credit		(30,000	)		—			—			—			(30,000	)
Proceeds from issuance of common stock under equity plans		6,198			—			—			—			6,198
Purchase of common stock in treasury		(1,816	)		—			—			—			(1,816	)
Intercompany long-term financing		31,475			(31,427	)		1,046			(1,094	)		—
Net cash provided by (used in) financing activities		5,857			(31,427	)		1,046			(1,094	)		(25,618	)
Effect of exchange rate changes on cash		—			—			(203	)		—			(203	)
Net increase (decrease) in cash and cash equivalents		(23,952	)		(8,736	)		388			—			(32,300	)
Cash and cash equivalents at beginning of period		66,258			16,216			7,157			—			89,631
Cash and cash equivalents at end of period	$	42,306		$	7,480		$	7,545		$	—		$	57,331