Welcome to our dedicated page for Gilat Satellite news (Ticker: GILT), a resource for investors and traders seeking the latest updates and insights on Gilat Satellite stock.
Gilat Satellite Networks Ltd. (GILT) generates frequent news as a global provider of satellite-based broadband communications and satellite networking technology. Company announcements often highlight orders, contract awards, and platform deployments that showcase demand for its ground-based satellite equipment, multi-orbit connectivity platforms, and defense communications solutions.
Investors and industry followers can use this news stream to see how Gilat’s Commercial and Defense Divisions are performing across key markets. Recent press releases describe multi-million-dollar orders for SkyEdge IV multi-orbit platforms, gateway Solid State Power Amplifiers to support Low Earth Orbit constellations, and Aerostream Ka-band BUCs for in-flight connectivity on commercial aircraft. Other updates cover transportable SATCOM terminals supplied to the U.S. Army and contracts supporting the U.S. Department of Defense and Israel’s Ministry of Defense.
Gilat’s news also includes financial updates, such as quarterly results furnished on Form 6-K, guidance changes, and details of private placements of ordinary shares to institutional and accredited investors. These items provide insight into revenue trends, profitability metrics like Adjusted EBITDA, and the company’s capital-raising activities for general corporate purposes and potential strategic acquisitions.
On this GILT news page, readers can follow categories such as earnings reports, large equipment and platform orders, defense and government contracts, mobility and in-flight connectivity deployments, earth observation and geospatial solutions, and capital markets actions. Regularly reviewing these updates helps users understand how Gilat’s satellite networking technology is being adopted across government, defense, mobility, broadband access, cellular backhaul, enterprise, aerospace, broadcast, and critical infrastructure applications.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) has appointed Isaac Angel as Chairman of the Board, effective immediately, succeeding Dov Baharav who retired after seven years. Isaac Angel brings extensive experience, previously serving as CEO at Ormat Technologies Inc. Gilat's CEO, Adi Sfadia, expressed optimism about 2021, anticipating growth opportunities post-COVID-19 and highlighting Angel's considerable expertise. Angel noted Gilat's strong position for profitable growth, supported by three decades of global experience, innovative technology, and a robust customer base.
Gilat Satellite Networks Ltd. has filed its Annual Report on Form 20-F, featuring audited financial statements for the year ending December 31, 2020, with the U.S. Securities and Exchange Commission. The report is accessible on their website, and shareholders can request a hard copy at no charge. Gilat is a leader in satellite-based broadband communications, providing innovative solutions and technology for various applications including broadband access, cellular backhaul, and maritime connectivity.
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.
FAQ
What is the current stock price of Gilat Satellite (GILT)?
What is the market cap of Gilat Satellite (GILT)?
