Gilat Announces Filing of 2023 Annual Report

Rhea-AI Summary

Gilat Satellite Networks files Annual Report on Form 20-F with the SEC for the year ended December 31, 2023.

Financial Analyst

Reviewing Gilat Satellite Networks Ltd.'s Annual Report on Form 20-F is significant as it offers a comprehensive overview of the company's financial health. Investors closely monitor these reports to make informed decisions. The audited consolidated financial statements for the year provide transparency into Gilat's revenue streams, cost structures, profitability and cash flow. These factors directly impact the company's ability to invest in new technologies, service debt and fund operations, which in turn can affect stock performance.

From a financial perspective, key metrics such as EBITDA, net income and revenue growth are indicators of the company's operational efficiency and market position. Any deviations from industry benchmarks or past performance can signal changes in the competitive landscape or operational challenges. Investors should analyze trends in these metrics over several years to understand the company's trajectory.

Market Research Analyst

Gilat Satellite Networks operates in the satellite networking technology sector, which is highly sensitive to changes in technology and customer demand. The information disclosed in the annual report can shed light on how Gilat is adapting to industry trends, such as the shift towards high-throughput satellites and low Earth orbit (LEO) constellations. Understanding Gilat's strategic initiatives and R&D investments is important for stakeholders to assess the company's potential to capture market share and drive sustainable growth.

Additionally, the report can provide insights into Gilat's market penetration and expansion strategies. For instance, entry into emerging markets or the establishment of partnerships could be pivotal for future revenue streams. Investors would benefit from examining how these strategies align with global satellite communication trends and potential regulatory changes that could impact the industry.

Legal Expert

The filing of the Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (SEC) is a legal requirement for foreign companies listed on U.S. exchanges. This report gives investors a level of assurance regarding the company's compliance with international financial reporting standards and U.S. regulatory requirements. It's important to consider the legal implications of any disclosures, especially concerning litigation, regulatory inquiries, or changes in accounting policies that could have material effects on the company's operations or financial projections.

Investors should also pay attention to the management discussion and analysis (MD&A) section, as it often includes management's perspective on financial results, potential risks and future outlook. This narrative can provide context to the raw financial data, revealing the company's risk management strategies and operational challenges that may not be immediately apparent from the financial statements alone.

PETAH TIKVA, Israel, March 20, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced that it has filed its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission containing audited consolidated financial statements for the year ended December 31, 2023.

The annual report will be available on the Gilat website (www.gilat.com). Shareholders may receive a hard copy of the annual report free of charge upon request.

About Gilat

Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground and new space connectivity and provide comprehensive, secure end-to-end solutions and services for mission-critical operations, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

Our portfolio includes a diverse offering to deliver high value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.

Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: www.gilat.com

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the current terrorist attacks by Hamas, and the war and hostilities between Israel and Hamas and Israel and Hezbollah. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

Contact:

Gilat Satellite Networks
Hagay Katz, Chief Products and Marketing Officer
hagayk@gilat.com

Gilat Satellite Networks
Mayrav Sher, Head of Finance and Investor Relations
mayravs@gilat.com

EK Global IR
Ehud Helft, Managing Partner

 

What type of report did Gilat Satellite Networks file with the SEC?

Gilat Satellite Networks filed its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission.

Where can shareholders access the annual report?

Shareholders can access the annual report on the Gilat website (www.gilat.com).

How can shareholders receive a hard copy of the annual report?

Shareholders can receive a hard copy of the annual report free of charge upon request.