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. 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, TASE: GILT) reported a significant drop in Q1 2020 revenues of $47.7 million, down from $62.1 million in Q1 2019. The company faced a GAAP operating loss of $10.8 million compared to a profit of $4.5 million the previous year. Net loss increased to $11.8 million or $0.21 per diluted share. The COVID-19 pandemic severely impacted operations, particularly in travel and aviation sectors. Despite these challenges, the acquisition by Comtech Telecommunications Corp. received a 99.7% shareholder approval and awaits regulatory clearance.