Welcome to our dedicated page for Gilat Satellite Networks news (Ticker: GILT), a resource for investors and traders seeking the latest updates and insights on Gilat Satellite Networks stock.
Gilat Satellite Networks Ltd. develops satellite-based broadband communications technology for commercial and defense applications. Company news often centers on multi-orbit ground systems, high-throughput satellite networks, in-flight connectivity, cellular backhaul, enterprise connectivity, mobility, government communications and critical infrastructure.
Recurring developments include customer orders and partnerships for SkyEdge IV, Sidewinder ESA terminals, AeroStream Ka-band aviation products, EnduroStream solid-state power amplifiers, DKET transportable terminals and defense modems. News also covers Gilat Defense, Gilat DataPath, Gilat Wavestream and Gilat Stellar Blu, along with financial results, investor conference activity, software-defined satellite communications, cloud-enabled SATCOM architecture and 5G non-terrestrial network capabilities.
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.