Gilat Receives over $14M in Orders Expanding Further into the IFC Market

Rhea-AI Summary

Gilat Satellite Networks has secured over $14 million in orders for its In-Flight Connectivity (IFC) products and solutions from several prominent service providers and system integrators. The orders include network equipment, Solid State Power Amplifiers (SSPAs), and auxiliary IFC products. This reinforces Gilat's leadership in the commercial and business aviation IFC market. The company's position is further strengthened by its recent acquisition of Stellar Blu Solutions. Gilat's IFC solutions are recognized for their performance, reliability, and user experience and are deployed globally on thousands of aircraft.

Hagay Katz, Chief Product and Marketing Officer at Gilat, highlighted the company's commitment to meeting the growing demand for IFC capabilities with advanced and comprehensive solutions.

Positive

• Secured over $14 million in orders for IFC products and solutions.
• Strengthened market position with the acquisition of Stellar Blu Solutions.
• Gilat's IFC solutions are deployed globally on thousands of aircraft.

Negative

• None.

IFC Solution Orders Secured from New Partnerships and Existing Customers

PETAH TIKVA, Israel, June 27, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that it has secured over $14 million in orders from several prominent service providers and system integrators for its In-Flight Connectivity (IFC) products and solutions. These include Network equipment, Solid State Power Amplifiers (SSPAs), and additional IFC auxiliary products.

These orders demonstrate the company’s leadership position in the growing IFC market for commercial and business aviation. This position will be significantly strengthened with Gilat’s recent acquisition of Stellar Blu Solutions. Gilat’s airborne solutions, renowned for their superior performance, reliability, and user experience, are deployed globally and on thousands of IFC enabled aircraft.

“We are proud to be selected by leading satellite operators, service providers and system integrators to supply crucial next-generation technology for IFC services, both through follow-on orders and new business partnerships,” said Hagay Katz, Chief Product and Marketing Officer at Gilat. “As the demand for IFC capabilities continues to grow rapidly, Gilat remains committed to providing the most advanced and comprehensive solutions portfolio to meet a wide range of requirements.”

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

EK Global IR
Ehud Helft, Managing Partner
ehud@ekgir.com

FAQ

What recent orders has Gilat received for its IFC products?

Gilat has received over $14 million in orders from several prominent service providers and system integrators for its In-Flight Connectivity (IFC) products and solutions.

How has Gilat strengthened its position in the IFC market?

Gilat has strengthened its position in the IFC market through the acquisition of Stellar Blu Solutions and securing over $14 million in orders for its IFC products and solutions.

What products are included in Gilat's recent IFC orders?

The recent IFC orders include network equipment, Solid State Power Amplifiers (SSPAs), and additional auxiliary IFC products.

Who are the customers for Gilat's recent IFC orders?

The customers for Gilat's recent IFC orders are several prominent service providers and system integrators.

What is the stock symbol for Gilat Satellite Networks?

The stock symbol for Gilat Satellite Networks is GILT.