Wireless communications provider ViaSat Inc. said Monday that its fiscal third-quarter profit plunged 70 percent because of expenses related to recent acquisition of WildBlue Communications Inc.
VisSat earned $3.2 million, or 9 cents per share, in the three months ended Jan. 1. That compares with income of $10.7 million, or 34 cents per share, in the year-ago period.
Excluding the acquisition expenses and costs covering employee stock compensation, ViaSat earned 39 cents per share. That figure matched the average estimate among analysts polled by Thomson Reuters.
Revenue for the period edged up to $156.4 million from $150.4 million. Analysts predicted revenue of $168.8 million.
ViaSat extended its reach in December with the completion of its $568 million purchase of privately held WildBlue, which provides high-speed Internet access via satellite.
The WildBlue deal gave ViaSat an additional 423,000 subscribers.
ViaSat shares fell 18 cents to close at $26.24.