Gogo Inc. provides in-flight Internet connectivity and wireless in-cabin digital entertainment solutions in the United States and internationally. The company, through its proprietary air-to-ground (ATG) network and satellite-based technologies, offers a suite of connectivity solutions and other services, including passenger connectivity, passenger entertainment, and operations-oriented communications services, as well as advertising, e-commerce, content, and other offerings, such as destination-based event ticketing, flight tracker, and weather and travel sites. The company operates in three segments: Commercial Aviation North America; Commercial Aviation Rest of World; and Business Aviatio...
1250 North Arlington Heights Road
Itasca, IL 60143
Founded in 1991
Verizon Communications Reportedly Looking To Acquire Gogo
Aug 20 14
Verizon Communications Inc. (NYSE:VZ) is reportedly looking to acquire Gogo Inc. (NasdaqGS:GOGO). Aviation site RGN states, Wall Street is now buzzing that Verizon might be studying a potential joint venture, acquisition or partnership with Gogo.
Gogo Inc. Reports Un-Audited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Re-Affirm Earnings Guidance for the Year Ending December 31, 2014
Aug 11 14
Gogo Inc. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenue of $99.5 million, up 25% year-over-year from $79.4 million in 2013. Adjusted EBITDA was $3.1 million, down from $3.8 million in second quarter of 2013. Net loss attributable to common stock was $18.7 million, or $0.22 per basic and diluted share, compared to $72.6 million, or $4.98 per basic and diluted share, in second quarter of 2013. Cash CAPEX, defined as capital expenditures net of airborne equipment proceeds received from the airlines, decreased to $26.9 million from $28.8 million in second quarter of 2013, as a result of higher airborne equipment proceeds received from the airlines in second quarter of 2014. The company reported operating loss of $10.9 million compared to $9.1 million and loss before incomes taxes of $18.3 million compared to $55.7 million of for the last year.
For the six months, the company reported total revenue of $195.2 million compared to $150.2 million, net loss attributable to common stock of $35.5 million, or $0.42 per basic and diluted share, compared to $105.0 million, or $9.82 per basic and diluted share, operating loss of $20.2 million compared to $19.4 million, loss before incomes taxes of $34.9 million compared to $69.9 million, net cash provided by operating activities of $3.2 million compared to net cash used in operating activities of $2.7 million and purchases of property and equipment of $59.7 million compared to $58.7 million for the last year.
For the full year ending December 31, 2014, overall guidance remains unchanged. The company expects total revenue of $400 million to $422 million (with CA-ROW revenue of approximately $2 million) and cash CAPEX of $105 million to $125 million. The company anticipates that increased spending for STCs at CA-ROW for the roll out of satellite connectivity solutions will bring full year adjusted EBITDA toward the low end of the $8 million to $18 million range.
Gogo Secures $75 Million in Credit Facility Add-On
Aug 4 14
Gogo reported that it has obtained a $75 million increase to its existing $248 million credit facility arranged by Morgan Stanley. The company intends to use the proceeds of the debt financing for general corporate purposes.