Gilat Satellite Stock Price, News & Analysis

Gilat Satellite Networks Ltd. (GILT) was chosen by Sencinet to provide satellite connectivity solutions for Petrobras, Brazil's largest oil and gas company. The project aims to modernize and enhance Petrobras' telecommunications capabilities using Gilat's SkyEdge II-c network. This deployment will take place across offshore platforms, ships, and land stations. Sencinet will utilize Gilat's technology to ensure high-quality services and efficient migration from legacy systems, targeting growth in the oil and gas sector and broader markets in Brazil.

Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT) will announce its third quarter 2022 financial results on November 14, 2022. Following the announcement, a conference call led by CEO Adi Sfadia and CFO Gil Benyamini will take place at 09:30 AM EST. Investors can participate via dial-in or access a simultaneous webcast on the Gilat website. The webcast will be archived for 30 days. Established over 30 years ago, Gilat specializes in satellite-based broadband communications, offering innovative solutions for various applications including broadband access and mobility.

Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced multimillion-dollar orders from SES, expanding their strategic cooperation in satellite communications. These follow-on orders leverage Gilat's SkyEdge IV platform for SES's O3b mPOWER and SES-17 satellite systems, enhancing reach in maritime mobility, cellular backhaul, and fixed data. The partnership aims to meet the growing global demand for satellite services. Gilat emphasizes its commitment to innovation and comprehensive solutions across various sectors.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) reported a revenue of $55.5 million for Q2 2022, a 1.2% increase from the previous year. The company achieved a GAAP operating profit of $1.5 million, compared to a loss of $0.4 million in Q2 2021. Non-GAAP operating income rose to $2.4 million from $0.1 million, and GAAP net income reached $0.5 million, reversing a loss of $0.2 million last year. Adjusted EBITDA improved to $5.3 million from $2.4 million year-over-year. The company reiterated its 2022 financial guidance.

Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced an expansion of its contract with Internet para Todos (IPT) in Peru for 4G cellular backhaul services. This multi-year deal will deploy services across over 100 new sites aimed at enhancing internet connectivity in rural regions. IPT, a collaboration involving Telefónica and Meta, is focused on bridging the digital divide in Latin America. Gilat's technology has been pivotal in delivering broadband to previously underserved areas, reflecting its commitment to increasing connectivity and supporting economic growth in these communities.

Gilat Satellite Networks (Nasdaq: GILT) has secured a significant agreement to provide its SkyEdge II-c satellite hub and hundreds of VSATs to a government in Central Asia. This initiative aims to connect rural villages to the government network, enhancing disaster preparedness communication and remote service accessibility for citizens. The technology will enable interactions with various governmental bodies, ensuring improved service delivery across remote regions. Gilat continues to play a crucial role in bridging the digital divide globally.

Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced the expansion of its strategic in-flight connectivity (IFC) partnership with Intelsat in Japan. This collaboration includes the addition of two SkyEdge II-c hubs, enhancing commercial and business aviation services. The move aims to boost IFC reliability for air travelers and meets the increasing demand for air travel. Gilat's technology is designed to streamline service fulfillment, improving user experience. The partnership underlines Gilat's commitment to providing robust in-flight communication solutions in the Asia Pacific region.

Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) has secured a multimillion-dollar order from a Tier-1 mobile network operator in Latin America to provide its SkyEdge II-c platform with Capricorn VSATs for 4G cellular backhaul. This major contract will enhance the operator's extensive 4G network and is bolstered by Gilat's comprehensive technical support and installation services. The order underscores Gilat's reputation for reliability and the growing demand for satellite backhaul solutions in the telecommunications sector.

Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced a significant order exceeding $7 million from a leading mobile network carrier in the Asia Pacific region. This order aims to expand the carrier's 4G cellular backhaul network into rural areas lacking fiber access using Gilat’s advanced SkyEdge II-c Capricorn VSATs. The agreement highlights Gilat's technological prowess and commitment to enabling rapid, cost-effective network expansion, underscoring the confidence in their satellite solutions for enhancing connectivity.