Feb. 26--Itasca-based Gogo, which installs Internet Wi-Fi capability for airlines and on private aircraft, reported a narrower loss and higher revenue than expected Thursday as it racked up orders for its advanced ground-based system and newer satellite-based connectivity.
Profit: Gogo lost $24.1 million in the fourth quarter and $84.5 million during 2014. It lost 28 cents per share in the quarter, better than the 31-cent loss Wall Street expected.
Sales: Fourth-quarter revenue was $109.2 million, up 18 percent over the same quarter a year earlier and beating average analyst expectations of $106.3 million. Annual revenue was up 24 percent.
Quote you on that: Gogo CEO Michael Small said the company had "an outstanding quarter." "We continue to hit our three goals: bring more capacity to the sky, win more aircraft and hit our numbers. In fact, every quarter in the year last year has demonstrated strong progress toward these goals."
Look back: During the quarter American Airlines and United Airlines selected Gogo to provide Internet connectivity on their regional jet fleets, adding about 500 planes to its backlog, which now sits at about 1,000 aircraft.
Look ahead: Gogo expects 2015 revenue of $490 million to $510 million, up 20 to 25 percent from 2014. The company plans to move its headquarters to Chicago in May, a spokesman said.
gkarp@tribpub.com
