Gilat Satellite Stock Price, News & Analysis

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.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) has secured a multi-million dollar managed service contract with Globe Telecom, the largest mobile operator in the Philippines. This partnership aims to expand cellular backhaul services nationwide, especially in areas with challenging terrain. Gilat's technology will enhance Globe's service quality and reliability as demand for connectivity increases. The deal underscores Gilat's role as a trusted partner, leveraging its SkyEdge II-c platform to provide robust satellite solutions across various technologies, including 2G, 3G, 4G, and 5G.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced a $0.63 per share dividend, confirmed by a tax ruling from the Israel Tax Authority. The company will withhold 25% tax on dividends, although eligible shareholders from tax treaty countries may benefit from lower rates. The appointed paying agent, IBI Trust Management, will assist shareholders in obtaining tax relief. Gilat, a leader in satellite communications, has a portfolio supporting various applications including broadband access and defense.

Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT) has announced a cash dividend of $0.63 per share, totaling approximately $35 million, after court approval. This dividend will be paid on January 20, 2021, to shareholders of record on January 11, 2021. With a previously distributed $20 million dividend this month, the total payable dividends amount to $55 million, or $0.99 per share. Additionally, Bosmat Halpern has been appointed as the company's new CFO.

Gilat Satellite Networks (NASDAQ: GILT) has secured a multi-million dollar contract from Hispasat to expand its SkyEdge II-c platform in Mexico.

This initiative aims to extend 4.5G LTE coverage to over three million underserved people in rural areas, enhancing mobile broadband services.

The project leverages satellite backhauling technology to overcome deployment challenges posed by difficult terrains, thereby supporting economic and social development in these regions.