Gilat Satellite Stock Price, News & Analysis

Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced that its subsidiary, Wavestream, successfully achieved DO-160G certification for the AeroStream 40Ku transceiver, a significant milestone for in-flight connectivity. Production units are set to be shipped for commercial aircraft use starting in Q2 2021. The AeroStream 40Ku features high reliability with an MTBF of over 30,000 flight hours. This certification enhances Wavestream's leadership in the Ku-band IFC market and ensures compatibility with existing and future satellite modems.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) has launched its new Aquarius family of ultra-high-performance, multi-orbit VSATs, capable of delivering over 2 Gigabits per second. These VSATs are designed to enhance 5G networks and support LEO/MEO constellations, aiming to meet the increasing demand for data-intensive applications like cellular backhauling. Aquarius promises uninterrupted service and seamless satellite handover, making it ideal for Mobile Network Operators. Gilat's advancements position it as a key player in the evolving 5G ecosystem.

Gilat Satellite Networks reported a GAAP net profit of $62.4 million for Q4 2020, significantly improving from a net loss of $11.6 million in Q3 2020. The revenue decreased to $42.6 million, down from $78.3 million in Q4 2019, although it showed improvement from the previous quarter. Adjusted EBITDA was $1.1 million, a decline from $13.1 million in Q4 2019. The company also received $70 million in merger cancellation fees and declared a $35 million dividend. Looking forward, CEO Adi Sfadia expressed optimism about revenue growth in 2021.

Gilat Satellite Networks (NASDAQ: GILT) has begun shipping its aero modems to a leading Chinese system integrator for installation on the fleet of the first airline in China, as well as additional domestic airlines. This is part of a multi-million-dollar potential deal. The Ka-band In-flight Entertainment and Connectivity (IFEC) system has been successfully operational on the initial aircraft, enhancing passenger experiences. The deal targets up to 3,500 commercial aircraft in China, indicating significant growth opportunities in the IFEC market.

Gilat Satellite Networks (NASDAQ: GILT) has secured a multi-million-dollar contract from CORPAC to implement mission-critical telecom systems at 29 airports in Peru. This contract reinforces Gilat's expertise in large-scale government projects, enhancing their position for future opportunities in Peru. The project includes designing, supplying, and commissioning equipment for Communication Navigation and Surveillance services. With this strategic engagement, Gilat aims to significantly boost its business presence in the region.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced that its subsidiary Wavestream received an award exceeding $50M from a leading satellite operator. This project involves supplying Gateway Solid State Power Amplifiers for a Low Earth Orbit (LEO) satellite constellation. Wavestream's PowerStream 160Ka SSPAs were selected due to their superior performance and reliability. This selection underscores Wavestream's strong technological capabilities and production capacity to meet the growing demands of NGSO constellations.

Gilat Satellite Networks (NASDAQ: GILT) successfully tested its Electronically Steered Antenna (ESA) integrated with Inmarsat's G-MODMAN solution over the Global Xpress network. This marks the first live demonstration of an ESA terminal on an operational GX satellite, specifically the Inmarsat-5 F1. The antenna managed real-time communication while adjusting to changing elevation and angles while minimizing interference, affirming Gilat’s leadership in ESA technology and readiness for commercial deployment.

Gilat Satellite Networks (NASDAQ, TASE: GILT) will release its fourth quarter and full year 2020 financial results on February 16, 2021. Following the announcement, CEO Adi Sfadia and CFO Bosmat Halpern will host a conference call to discuss the results and participate in a Q&A session. The call will start at 09:30 AM EST and be accessible via dial-in numbers and a webcast on the company's website. A replay of the conference call will be available from February 16 to February 19, 2021.

Gilat Satellite Networks (NASDAQ: GILT) has secured a multi-million dollar contract from AXESS for cellular backhaul projects in Mexico. This partnership aims to enhance connectivity across hundreds of sites, playing a pivotal role in bridging the digital divide in the region. Utilizing Gilat's SkyEdge II-c platform, AXESS will expand its services not only for cellular backhaul but also for various industries, including Oil & Gas and Retail. Gilat emphasizes its commitment to strengthening mobile connectivity in Latin America.