Gilat Satellite Stock Price, News & Analysis

Gilat Satellite Networks Ltd. (GILT) has announced a significant contract with a major Mobile Network Operator (MNO) in Asia to deploy its 4G cellular backhaul over satellite technology. This deployment, set for the first quarter of 2022, aims to enhance voice and data services for hundreds of millions of subscribers. The selected technology has an impressive market adoption rate of around 80%, highlighting its proven track record. This contract is viewed as a key market penetration success with potential for future expansions.

Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced the appointment of Gil Benyamini as CFO, effective February 1, 2022. He brings significant experience, most recently as CFO of Panaxia Pharmaceutical Industries. Benyamini is set to drive growth amid opportunities in the satellite communications sector. Bosmat Halpern, the outgoing CFO, contributed to Gilat's progress over the past eight years. Gilat specializes in satellite-based broadband communications, providing comprehensive solutions to various sectors including defense and public safety.

Gilat Satellite Networks (NASDAQ: GILT) has been selected by a major satellite service provider in Eurasia for a multi-million-dollar deal to enhance satellite communications using the SkyEdge II-c platform. This modernization will replace outdated equipment, consolidating legacy networks with new ones to improve coverage for maritime, land mobility, and consumer applications. The deal underlines a strengthened partnership and aims to provide a superior user experience across the region.

Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) announced a follow-on order exceeding $5 million from a Tier-1 US military terminal provider for Solid State Power Amplifiers (SSPAs) for satellite communication terminals. This order highlights the continued trust in Wavestream technology and production reliability. Gilat's subsidiary, Wavestream, will deliver MicroStream frequency conversion/amplifier units designed for tactical military users. Anticipated future contract expansions are indicated.

Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced a new collaboration with Africa Mobile Networks (AMN) to extend cellular backhaul services across a dozen African countries. AMN has deployed Gilat's technology due to its superior satellite connectivity, enhancing digital access in rural areas. Gilat's SkyEdge II-c Capricorn VSATs will support this effort, helping AMN close the digital divide. The partnership aims to bolster telecommunications networks in regions lacking connectivity, with plans to migrate to 4G technologies as demand increases.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) reported a 34% revenue increase year-over-year to $49.9 million for Q3 2021. The company achieved a GAAP operating income of $0.9 million, reversing a loss of $10.9 million from Q3 2020. Adjusted EBITDA reached $4.0 million, significantly up from $0.6 million in the same quarter last year. Notable achievements include $28 million in multi-year agreements in Peru and strong bookings in strategic markets, despite global supply chain challenges. Management expresses confidence in future growth for both Q4 and 2022.

Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT) announced a significant expansion of a Tier-1 mobile operator's 4G network in Asia. This enhancement will utilize Gilat's advanced cellular backhaul solution, employing carrier-grade VSAT technology to connect hundreds of additional sites, especially in rural areas. The deployment aims to improve high-speed data and voice over LTE (VoLTE) services. Gilat’s commercial strategies are geared towards facilitating growth and profitability for mobile network operators across the continent.

Gilat Satellite Networks announced an expansion of its 4G network for a Tier-1 Mobile Network Operator in North America, aimed at enhancing disaster recovery and ongoing operational needs. The satellite solutions are particularly crucial for restoring connectivity amidst natural disasters like hurricanes and wildfires. With increased global natural disasters, Gilat has developed various solutions to support emergency communications. The company has over 30 years of experience in satellite-based broadband communications, offering advanced technology and services.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced the release of its third quarter 2021 financial results on November 9, 2021. The company’s CEO, Adi Sfadia, and CFO, Bosmat Halpern, will lead a conference call to discuss these results, scheduled for 09:30 AM EST / 16:30 IST. Interested parties can join via dial-in numbers or through a webcast available on Gilat’s website. The webcast will also be archived for 30 days. Gilat is a leading provider of satellite-based broadband communications, offering comprehensive solutions across various applications.