Gilat Satellite Stock Price, News & Analysis

Gilat Satellite Networks Ltd. (NASDAQ: GILT) reported a strong second quarter for 2021 with revenues of $56.9 million, reflecting a 49% year-over-year increase. The company achieved a return to Non-GAAP profitability with a Non-GAAP net income of $0.4 million, or $0.01 per share. Significant awards in their Mobility and Defense segments contributed to the positive performance, including multi-million contracts from SES and the US Army. Gilat anticipates continued high growth and profitability through the second half of 2021 and into 2022 due to strong demand across various markets.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) has secured a contract exceeding $5 million from a Tier-1 US terminal provider to deliver Solid State Power Amplifiers (SSPAs) for satellite communication terminals aimed at military applications globally. The company expects further contract expansion in collaboration with the provider.

Wavestream, a wholly-owned subsidiary of Gilat, will supply integrated MicroStream frequency conversion/amplifier units, designed for tactical defense users. This reinforces Gilat's position as a leader in satellite networking solutions.

Gilat Satellite Networks has secured a multi-million-dollar order from SES for its global mobility platform, enhancing its maritime leadership. This partnership will enable premier cruise lines and service providers to tap into satellite-enabled services via SES's O3b mPOWER and geostationary fleet. Gilat’s optimized next-generation platform will support high throughput connectivity for maritime and airborne applications. This agreement positions Gilat's VSAT technology at over a dozen gateways, ensuring robust and efficient service delivery for global mobility needs.

Gilat Satellite Networks Ltd. (Nasdaq: GILT) has announced a multi-million-dollar contract from the US Army for additional 50W Ka-band BUCs through its subsidiary, Wavestream. This order supports tactical communications and marks a continuation of a program that began in 2007, featuring over 5,000 amplifiers deployed worldwide. Wavestream's high-performance solutions are crucial for Comms-on-the-Quick-Halt tactical communications. The contract reflects Gilat's commitment to providing reliable satellite communication technologies under demanding conditions.

Gilat Satellite Networks Ltd. (Nasdaq: GILT) has signed a strategic agreement valued at over $5 million with Pacific Dataport Inc. (PDI) to enhance broadband coverage in Alaska. Gilat's SkyEdge II-c multi-service platform will facilitate various applications, including direct-to-home broadband and enterprise services. PDI aims to deploy a robust multiservice network utilizing new GEO HTS/VHTS satellites, significantly increasing Alaska's middle mile capacity by 110 Gbps and serving approximately 98,000 users.

Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) has announced additional orders worth $2 million to support gateways for Low Earth Orbit (LEO) constellations. These orders, part of a previously disclosed contract, were placed with Gilat's subsidiary Wavestream, which will supply Gateway Solid State Power Amplifiers (SSPAs) to a leading satellite operator. Wavestream is on track to deliver over 800 SSPAs within the next year, emphasizing its technical performance and reliability in challenging environments.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) will announce its second quarter 2021 financial results on August 10, 2021. CEO Adi Sfadia and CFO Bosmat Halpern will host a conference call at 9:30 AM EST to discuss the results and business achievements. Investors can participate by dialing 1-866-744-5399 in the US or (972) 3-918-0610 internationally. A webcast of the event will also be available on the company's website and archived for 30 days.

Gilat is a leader in satellite-based broadband communications, offering innovative solutions across various applications.

Gilat Satellite Networks announced a multi-million-dollar contract to supply satellite communication equipment to a system integrator for a customer in Asia. The deal leverages Gilat's SkyEdge II-c platform and Capricorn VSATs to enhance defense forces' tactical SATCOM capabilities, especially for emergency response and C4I needs. The deployment includes multiple hubs and numerous VSATs in redundant configurations to meet security and regulatory standards. Gilat aims to expand its presence in the defense sector and other markets like education and oil & gas.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced receiving orders worth $9 million to support Low Earth Orbit (LEO) constellation gateways through its subsidiary, Wavestream.

The orders are part of a previously announced contract and include over 800 Gateway-Class SSPAs. Wavestream plans to complete all deliveries within the next 12 months, marking an unprecedented production rate for these complex systems, which are tailored for non-geostationary satellite orbit applications.