Boston, MA 05/13/2014 (wallstreetpr) – Gogo Inc (NASDAQ:GOGO), the leading communications service provider for aircrafts, has through recent press release disclosed the financial results for the first quarter of the year 2014. The results for the Q1 look positive for Gogo in terms of increasing revenues and income. On the contrary, the company also reported an increase in operating expenses and capital expenditures, which does not look good. If the progress is to be achieved the company need to continue the good performance and make it better, but simultaneously it would also have to work on reducing costs and cutting down expenses. If Gogo keeps performing better not only on an annual but also on quarter-over-quarter basis, then the company would be able to achieve huge success and reach greater heights.
Q1 financial results published on May 12, 2014
Gogo has reported a total revenue in the quarter to amount to $95.7 million, which has increased by 35% as compared to the Q1 of 2013, which reported a total revenue of $70.8 million. Gogo Inc (NASDAQ:GOGO) reported the service revenue to amount to $72.3 million, which increased by 32% on a yearly basis and the equipment revenue amounted to $23.4 million, showing an increase of 48%.
Gogo also reported that the operating income of the company has amounted to $105.0 million, which has also witnessed a 30% increase as compared to the last year’s $81.1 million in Q1. The company reported some reasons for the increase in the operating expenses some of which were stated as increase costs due to increased service revenue, increased equipment revenue and expenses related to the company’s satellite connectivity systems.
The company reported the cash equivalents to amount to the sum of $219.6 million by the end of the quarter. This amount has shown a decrease in comparison to the last quarter’s $266.3 million. All in all, Gogo Inc (NASDAQ:GOGO) reported a good start with financially sound results in the first quarter.
