Gogo Tumbles 4% Following Q4 Print & 2016 Guidance

Shares of

were trading lower by more than 4 percent after the company reported its

. Gogo said that it lost $0.43 per share in the fourth quarter on revenue of $137.779 million. Wall Street analysts were expecting the company to lose $0.43 per share on revenue of $131 million. Revenue rose 26 percent in the quarter and adjusted EBITDA rose 556 percent to $8.0 million year-over-year. For the full fiscal year, revenue rose 23 percent from 2014's level to $500.9 million. Adjusted EBITDA for the full year rose 240 percent to $36.8 million. The company noted that installed nearly 19,900 broadband and wireless entertainment systems during the full year and grew the number of awarded aircraft for its 2Ku technology to over 800. Looking forward to 2016, Gogo expects its revenue to be $575 million to $595 million and adjusted EBITDA to be $55 million to $65 million. Wall Street analysts were already estimating the company's revenue to be $583 million in fiscal 2016. "We look forward to continuing to deliver strong growth in revenue and profitability in 2016. We are excited about our prospects as we deploy 2Ku, our proprietary, and disruptive, global satellite connectivity technology, and accelerate the pace of ATG-4 installations," said Gogo's Executive Vice President and CFO, Norman Smagley. "We believe that we are well positioned to continue to expand our global market share and extend our lead as the largest connectivity and wireless in-flight entertainment provider in the industry," added Mr. Smagley.