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 (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.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) has been selected to equip hundreds of maritime vessels in Asia with its advanced satellite communication technology. The deployment includes Gilat's modems and transceivers integrated with maritime terminals, delivering broadband internet through a reliable network powered by China Satcom's HTS Ka-band system. This achievement reinforces Gilat's position in the maritime sector, as demand is expected to rise post-pandemic. The company aims to capitalize on new opportunities as the maritime market recovers.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced that its subsidiary, Wavestream, secured a multi-million-dollar order from the US Department of Defense for its new Block Upconverters (BUCs). These BUCs meet interoperability requirements across multiple satellite constellations. The new Matchbox 20W Ka-band BUC is recognized as the most compact in its category, while the MicroStream 20W Ku BUC emphasizes size and power efficiency. This order highlights Wavestream's commitment to advancing military communications, ensuring effective operations across diverse satellite platforms.
Gilat Satellite Networks Ltd. announced that its subsidiary Wavestream has shipped its 5,000th high-power 50W Ka-band block upconverter for a U.S. military communications program. This multi-million-dollar order marks a significant milestone, showcasing Wavestream's production capacity and long-term relationship with the U.S. government, which has relied on its equipment for over 14 years. Gilat is recognized for providing broad satellite-based communications solutions, which include a diverse portfolio of products for various applications.
Gilat Satellite Networks Ltd. has officially appointed Adi Sfadia as CEO, transitioning from his interim CEO role since July 2, 2020. Dov Baharav, Chairman of the Board, expressed confidence in Sfadia's leadership abilities and expertise in the satellite industry, anticipating positive contributions to stakeholders. Sfadia emphasized his commitment to steering Gilat towards growth and profitability by leveraging his management team. Gilat is recognized for its satellite-based broadband communications, offering innovative solutions across various sectors.
Gilat Satellite Networks Ltd. reported a significant decline in its Q3 2020 financial performance. Revenues were $37.3 million, down from $63.4 million in Q3 2019. The GAAP operating loss reached $10.9 million, impacted by $8.2 million in merger-related expenses. Net loss amounted to $11.6 million, or $0.21 per share. However, the company plans to distribute $55 million in dividends, and reported an increase in its backlog due to new contracts in Cellular Backhaul and partnerships in NGSO. The company remains optimistic about a recovery and upcoming financial results.
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