Year-to-date, the company reported new contract awards of USD346.3m, total revenues of USD319.1m and non-GAAP diluted net income per share of USD0.73, or USD0.53 per share on a diluted GAAP basis.

The company's Government Systems segment posted quarterly revenues of USD102.8m, a 5.6% increase over Q2 of fiscal year 2009. New contract awards in the Government Systems segment for Q2 of fiscal year 2010 were USD118.1m.

For the Commercial Networks segment, revenues were USD54.4m for the quarter, an 8.2% decrease from the same quarter of fiscal 2009. New contract awards in the company's Commercial Networks segment for Q2 of fiscal year 2010 were USD93.5m.

ViaSat's Satellite Services segment contributed revenues of USD3.5m for the quarter, a 26.3% increase from Q2 of fiscal year 2009. New contract awards in the Satellite Services segment for the quarter were USD14.1m.

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Financial Results(1)

(In millions, except per share data)                                Q2 FY10  Q2 FY09  First 6 Mos.  First 6 Mos.
                                                                                      FY10          FY09
Revenues                                                            $160.7   $159.3   $319.1        $312.2
Net income attributable to ViaSat, Inc.                             $9.2     $9.3     $17.4         $15.5
Diluted per share net income attributable to ViaSat, Inc. common    $0.28    $0.29    $0.53         $0.49
stockholders
Non-GAAP net income attributable to ViaSat, Inc.(2)                 $13.1    $12.5    $24.0         $21.6
Non-GAAP diluted net income per share attributable to ViaSat, Inc.  $0.40    $0.39    $0.73         $0.68
Fully diluted weighted average shares                               33.0     32.1     32.9          31.9
New orders/Contract awards                                          $225.7   $255.5   $346.3        $461.4
Sales backlog                                                       $501.9   $523.6   $501.9        $523.6

(1) ViaSat uses a 52 or 53 week fiscal year which ends on the Friday closest to March 31. ViaSat quarters for fiscal year 2010 end on July 3, 2009, October 2, 2009, January 1, 2010 and April 2, 2010. Fiscal year 2010 is a 52 week year, compared with a 53 week year in fiscal year 2009. As a result of the shift in the fiscal calendar, the second quarter of fiscal year 2009 included an additional week.

(2) All non-GAAP numbers have been adjusted to exclude the effects of amortization of acquired intangible assets, acquisition related transaction expenses and non-cash stock-based compensation expenses, net of tax. A reconciliation of specific adjustments to GAAP results for these periods is included in the "Reconciliation Between Net Income Attributable to ViaSat, Inc. on a GAAP Basis and Non-GAAP Basis" table contained in this release. A description of our use of non-GAAP information is provided below under "Use of Non-GAAP Financial Information."

Government Systems Segment

The Government Systems segment posted quarterly revenues of $102.8 million, a 5.6% increase over the second quarter of fiscal year 2009. The growth was primarily related to higher revenues from next generation military satellite communication systems and video data link systems, offset by lower revenues from information assurance products and development programs and next generation tactical data link development. New contract awards in our Government Systems segment for the second quarter of fiscal year 2010 were $118.1 million.

Commercial Networks Segment

For the Commercial Networks segment, revenues were $54.4 million for the second quarter, an 8.2% decrease from the second quarter of fiscal year 2009. The revenue decrease was primarily due to lower sales of our consumer satellite broadband products and mobile satellite communication systems, offset by increased sales of antenna systems and enterprise VSAT products. New contract awards in our Commercial Networks segment for the second quarter of fiscal year 2010 were $93.5 million.

Satellite Services Segment

Our Satellite Services segment contributed revenues of $3.5 million for the second quarter, which was a 26.3% increase from the second quarter of fiscal year 2009. The revenue increase was primarily due to increased sales of our mobile broadband and managed broadband services. New contract awards in our Satellite Services segment for the second quarter were $14.1 million.

Selected Second Quarter 2010 Business Highlights

-- Signed an agreement to acquire privately-held WildBlue Communications, the premier Ka-band satellite broadband service provider. The combination of ViaSat and WildBlue is expected to set the stage for accelerated growth and expansion of the WildBlue(R) broadband service using ViaSat's next-generation network technology, SurfBeam(R) 2, and high-capacity ViaSat-1 satellite scheduled to launch in early 2011.

-- Signed a $46 million contract with Star Satellite Communications Company, a wholly owned subsidiary of Al Yah Satellite Communications Company PrJSC (Yahsat), for SurfBeam(R) 2 network infrastructure and initial customer premises terminals to power YahClick, an advanced new high-speed Ka-band satellite Internet access service in the Middle East region.

-- Signed contracts totaling approximately $15 million with L-3 Integrated Systems for airborne broadband terminals and services to support intelligence, surveillance, and reconnaissance (ISR) operations of the U.S. Air Force Liberty, a small, twin-turboprop manned ISR aircraft.

-- Received a $9 million order from BAE Systems Australia to provide X-band and Ka-band satellite antenna systems that will help provide enhanced access to the Australian Defence Wide Area Network in cooperation with the U.S. military using bandwidth on the new Wideband Global Satcom (WGS) satellite constellation.

-- Awarded two additional orders valued at more than $10 million for Multifunctional Information Distribution System (MIDS) terminals and spare components from the Space and Naval Warfare Systems Command (SPAWAR).

-- Enerdyne division demonstrated FM analog and new digital interoperability in its EnerLinksIII(TM) Ground Modem Transceiver, helping unmanned systems make the transition from analog to more secure and higher-performing digital data links for ISR operations.

-- Subsequent to the end of the quarter, ViaSat was ranked number 135 on the 2009 Forbes list of "200 Best Small Companies" based on growth and financial performance over the past five years.

Safe Harbor Statement

This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include, among others, statements that refer to our pending acquisition of WildBlue, the integration of ViaSat-1 into WildBlue's distribution and fulfillment resources, accelerated growth and expansion of the WildBlue service, and the progress of and expectations associated with our ViaSat-1 satellite project. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: difficulties and uncertainties relating to the pending WildBlue acquisition, which include difficulties and uncertainties relating to the satisfaction or waiver of conditions to closing, integration risks and costs, and uncertainties associated with the performance of the WildBlue business; our ability to have manufactured or successfully launch ViaSat-1 or implement the related broadband satellite services on our anticipated timeline or at all; continued turmoil in global financial markets and economies; the availability and cost of credit; reliance on U.S. government contracts and our reliance on a small number of contracts which account for a significant percentage of our revenues; our ability to successfully develop, introduce and sell new technologies, products and enhancements; reduced demand for products as a result of continued constraints on capital spending by customers; changes in relationships with, or the financial condition of, key customers or suppliers; reliance on a limited number of third parties to manufacture and supply our products; increased competition and other factors affecting the communications industry generally; the effect of adverse regulatory changes on our ability to sell products; our ability to comply with the covenants in any credit agreement, indenture or similar instrument governing any of our existing or future indebtedness; and other factors affecting the communications industry generally. In addition, please refer to the risk factors contained in ViaSat's SEC filings available at www.sec.gov, including ViaSat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. ViaSat undertakes no obligation to update or revise any forward-looking statements for any reason.

Conference Call

ViaSat Inc. will host a conference call to discuss these fiscal year 2010 second quarter results at 12:00 noon Eastern Time on Thursday, November 5, 2009. The dial-in number is (866) 261-7280 and (703) 639-1228 internationally. The conference ID is 1409861. A replay will be available for 24 hours beginning at 3:00 PM Eastern Time November 5 at (888) 266-2081 and (703) 925-2533 internationally. The access code is 1409861. You can also access our conference call webcast and other material financial information discussed on our conference call (including any information required by Regulation G) on the Investor Relations Events Calendar page of our corporate Web site (www.viasat.com). The call will be archived and available on that site for at least one month immediately following the conference call.

About ViaSat (www.viasat.com)

ViaSat is a provider of advanced satellite and wireless communications and secure networking systems, products and services. ViaSat has leveraged its success developing complex satellite communication systems and equipment for the U.S. government and select commercial customers to develop end-to-end satellite network solutions for a wide array of applications and customers. ViaSat's product and systems offerings are often linked through common underlying technologies, customer applications and market relationships. ViaSat believes that its portfolio of products, combined with its ability to effectively cross-deploy technologies between government and commercial segments and across different geographic markets, provides it a strong foundation to sustain and enhance its leadership in advanced communications and networking technologies. ViaSat's customers, including the U.S. government, leading aerospace and defense prime contractors, network integrators and communications service providers, rely on ViaSat's solutions to meet their complex communications and networking requirements. ViaSat is based in Carlsbad, CA, has major locations in Duluth, GA and Germantown, MD (Comsat Laboratories division), and additional field offices and service centers worldwide.

Use of Non-GAAP Financial Information

To supplement ViaSat's consolidated financial statements presented in accordance with GAAP, ViaSat uses non-GAAP net income attributable to ViaSat, Inc., a measure ViaSat believes is appropriate to enhance an overall understanding of ViaSat's past financial performance and prospects for the future. Non-GAAP net income attributable to ViaSat, Inc. excludes the effects of amortization of acquired intangible assets, acquisition related transaction expenses and non-cash stock-based compensation expenses, net of tax. We believe the non-GAAP results provide useful information to both management and investors by excluding specific expenses that we believe are not indicative of our core operating results. In addition, since we have historically reported non-GAAP results to the investment community, we believe the inclusion of non-GAAP numbers provides consistency in our financial reporting and facilitates comparisons to the company's historical operating results. Further, these non-GAAP results are among the primary indicators that management uses as a basis for planning and forecasting in future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for measures of financial performance prepared in accordance with generally accepted accounting principles. A reconciliation of specific adjustments to GAAP results is provided in the "Reconciliation Between Net Income Attributable to ViaSat, Inc. on a GAAP Basis and Non-GAAP Basis" table contained in this release.

WildBlue is a registered trademark of WildBlue Communications.
SurfBeam is a registered trademark of ViaSat, Inc.
EnerLinksIII is a trademark of Enerdyne Technologies, Inc., a wholly
owned subsidiary of ViaSat, Inc.

Comsat Labs and Comsat Laboratories are tradenames of ViaSat Inc. Neither Comsat Labs nor Comsat Laboratories is affiliated with COMSAT Corporation. "Comsat" is a registered trademark of COMSAT Corporation.

Condensed Consolidated Statement of Operations
(Unaudited)
(In thousands, except per share data)
                                                                      Three months ended                Six months ended
                                                                      October 2, 2009  October 3, 2008  October 2, 2009  October 3, 2008
Revenues                                                              $     160,666    $     159,280    $     319,074    $     312,241
Operating expenses:
Cost of revenues                                                            111,656          115,551          223,369          223,571
Selling, general & administrative                                           28,927           25,430           55,843           49,034
Independent research and development                                        6,692            6,656            13,695           16,496
Amortization of intangible assets                                           1,362            2,340            2,867            4,680
Income from operations                                                      12,029           9,303            23,300           18,460
Interest, net                                                               (129    )        477              (211    )        1,093
Income before income taxes                                                  11,900           9,780            23,089           19,553
Provision for income taxes                                                  2,808            505              5,705            3,908
Net income                                                                  9,092            9,275            17,384           15,645
Less: Net (loss) income attributable to the noncontrolling interest,        (83     )        17               (60     )        96
net of tax
Net income attributable to ViaSat, Inc.                               $     9,175      $     9,258      $     17,444     $     15,549
Diluted net income per share attributable to ViaSat, Inc. common            0.28             0.29             0.53             0.49
stockholders
Diluted common equivalent shares                                            33,047           32,138           32,916           31,890
AN ITEMIZED RECONCILIATION BETWEEN NET INCOME ATTRIBUTABLE TO
VIASAT, INC. ON A GAAP BASIS AND NON-GAAP BASIS IS AS FOLLOWS:
GAAP net income attributable to ViaSat, Inc.                          $     9,175      $     9,258      $     17,444     $     15,549
Amortization of intangible assets                                           1,362            2,340            2,867            4,680
Acquisition related transaction expenses                                    2,496            -                2,496            -
Stock-based compensation expense:                                           2,532            2,860            5,094            5,049
Income tax effect                                                           (2,420  )        (1,946  )        (3,917  )        (3,657  )
Non-GAAP net income attributable to ViaSat, Inc.                      $     13,145     $     12,512     $     23,984     $     21,621
Non-GAAP diluted net income per share attributable to ViaSat, Inc.    $     0.40       $     0.39       $     0.73       $     0.68
common stockholders
Diluted common equivalent shares                                            33,047           32,138           32,916           31,890

Condensed Consolidated Balance Sheet
(Unaudited)
(In thousands)
Assets                                     October 2, 2009  April 3, 2009    Liabilities and                             October 2, 2009  April 3, 2009
                                                                             Stockholders' Equity
Current Assets:                                                              Current liabilities:
Cash and cash equivalents                  $       83,884   $      63,491    Accounts payable                            $       58,223   $      63,397
Accounts receivable, net                           206,816         164,106   Accrued liabilities                                 81,126          72,037
Inventories                                        67,364          65,562    Total current liabilities                           139,349         135,434
Deferred income taxes                              26,724          26,724    Line of credit                                      80,000          -
Prepaid expenses and other current assets          23,159          18,941    Other liabilities                                   24,443          24,718
Total current assets                               407,947         338,824   Total liabilities                                   243,792         160,152
Property, equipment and satellite, net             214,527         170,225
Other intangible assets, net                       13,788          16,655    Total ViaSat, Inc. stockholders' equity             490,744         458,748
Goodwill                                           65,429          65,429    Noncontrolling interest in subsidiary               3,982           4,042
Other assets                                       36,827          31,809    Total stockholders' equity                          494,726         462,790
Total assets                               $       738,518  $      622,942   Total liabilities and stockholders' equity  $       738,518  $      622,942

SOURCE: ViaSat Inc.

ViaSat Inc. 
Investor Relations 
760-476-2633 
www.viasat.com

The acquisition remains subject to other regulatory approvals and closing conditions. It is expected to be completed in the fourth quarter of ViaSat's 2010 fiscal year, ending 2 April 2010.

ViaSat announced on 1 October that it had agreed to acquire privately-held WildBlue for USD568m in cash and stock.

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The new terminals will be installed at the ADF Satellite Ground Station in Western Australia (SGS-West). The SGS-West facility, being built by BAE Systems, is a complement to a similar system in Eastern Australia. In addition to faster data throughput, the new system is designed to increase the survivability and mission coverage needs of the ADF.

For ViaSat Antenna Systems product information, contact Rodolfo Munoz at +1 678-924-2522.

About ViaSat (www.viasat.com)

ViaSat produces innovative satellite and other digital communication products that enable fast, secure, and efficient communications to any location. The company provides networking products and managed network services for enterprise IP applications; is a key supplier of network-centric military communications and encryption technologies and products to the U.S. government; and is the primary technology partner for gateway and customer-premises equipment for consumer and mobile satellite broadband services. ViaSat also offers design capabilities and a number of complementary products including monolithic microwave integrated circuits and modules, DVB-S2 satellite communication components, video data link systems, data acceleration and compression, and mobile satellite antenna systems. ViaSat is based in Carlsbad, CA, has major locations in Duluth, GA, and Germantown, MD (Comsat Laboratories division), and has additional field offices and service centers worldwide.

Forward-Looking Statements

Portions of this release, particularly statements about the performance and deliveries of ViaSat antenna systems, may contain forward-looking statements regarding future events and are subject to risks and uncertainties. ViaSat wishes to caution you that there are some factors that could cause actual results to differ materially, including but not limited to: contractual problems; product defects; manufacturing issues or delays; regulatory issues; technologies not being developed according to anticipated schedules, or that do not perform according to expectations; and increased competition and other factors affecting the communications industry generally. In addition, please refer to the risk factors contained in ViaSat's SEC filings available at www.sec.gov, including without limitation, ViaSat's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. ViaSat undertakes no obligation to update or revise any forward-looking statements for any reason.

Comsat Labs and Comsat Laboratories are tradenames of ViaSat, Inc. Neither Comsat Labs nor Comsat Laboratories is affiliated with COMSAT Corporation. "Comsat" is a registered trademark of COMSAT Corporation. All additional products are trademarks of their respective owners.

SOURCE: ViaSat Inc.

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