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) announced a significant contract worth over $5M with a Tier-1 Mobile Network Carrier in Japan for cellular backhaul expansion via its SkyEdge II-c platform. The project aims to enhance coverage in rural areas lacking fiber access and improve emergency response capabilities during natural disasters. The carrier's aggressive deployment schedule highlights the demand for Gilat's technology, which is already benefiting other major operators in Japan and globally.
Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced receiving over $20 million in orders for supporting Low Earth Orbit (LEO) constellation gateways. This contract, awarded to its subsidiary Wavestream, includes supplying advanced Solid State Power Amplifiers (SSPAs) to a leading satellite operator. The PowerStream 160Ka SSPAs were chosen for their superior performance and reliability in demanding environments, catering specifically to Non-Geostationary Satellite Orbit (NGSO) constellations.
Gilat Satellite Networks announced it will release its first quarter 2021 financial results on May 4, 2021. The release will be followed by a conference call at 09:30 AM EDT, featuring CEO Adi Sfadia and CFO Bosmat Halpern who will discuss the results and business achievements. Investors can join the call via US dial-in (1-866-744-5399) or International (972-3-918-0610) and a webcast available on the company’s website. The results will provide insights into the company's performance and future outlook.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) was selected by SES to support a Tier-1 4G/LTE Mobile Network Operator in Brazil, enhancing broadband access for education in remote areas. Using Gilat's SkyEdge II-c platform, the initiative will provide connectivity to hundreds of schools, fulfilling a government mandate. This collaboration is poised to bridge the digital divide in Brazil, demonstrating Gilat’s capabilities in local delivery and support. SES's SES-14 satellite will facilitate high-speed internet access, benefiting thousands of students.
Gilat Satellite Networks (NASDAQ: GILT) announced its selection by Telespazio to provide a satellite network and thousands of VSATs for Brazil's largest private energy company. The partnership aims to enhance enterprise connectivity, meeting stringent Service Level Agreement (SLA) requirements. Gilat's SkyEdge II-c platform will be instrumental in supporting energy plants in remote locations, prioritizing critical applications through sophisticated Cloud QoS. This collaboration aligns with Gilat's strategy to expand its service offerings across multiple sectors, particularly focusing on the energy market.
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.