Gilat Satellite Networks Ltd - GILT STOCK NEWS

Gilat Satellite Networks (NASDAQ: GILT) reported Q1 2021 revenues of $44.7 million, down from $47.7 million in Q1 2020, but up from $42.6 million in Q4 2020. The GAAP operating loss improved to $3.7 million from $10.8 million last year. Non-GAAP net loss was $5.2 million, compared to $8.6 million a year ago. CEO Adi Sfadia highlighted strong momentum in business units, excluding the IFC segment, and announced a multi-million dollar strategic agreement with a government in Asia Pacific. Gilat expects continued growth in 2021, particularly in NGSO and Cellular Backhaul.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) has secured a multi-year managed-services contract valued at tens of millions of dollars with a major government corporation in the Asia Pacific region. This strategic agreement focuses on enterprise connectivity, allowing for nationwide coverage across various applications, including cellular backhaul and emergency-response services. The deal is expected to foster significant project expansions, leveraging Gilat's SkyEdge II-c technology.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) has reached a milestone in Peru by entering the operational phase of a telecom project valued at $108M, initially awarded in 2015. This phase will enable broadband internet services for over 1.5 million people in Cusco, generating recurring revenue of multi-million dollars annually for a decade. The project will also train over 600 representatives from schools and health facilities and establish 71 internet hot spots in public areas.

Gilat Satellite Networks (NASDAQ, TASE: GILT) has secured a $3 million contract from a Tier-1 Telco in Latin America to deploy thousands of VSATs in remote schools, enhancing broadband connectivity to support children's education. This initiative aims to bridge the digital divide in the region. The SkyEdge II-c network was selected for its proven experience in delivering high-quality connectivity. As Gilat continues to expand its footprint in Latin America, this project exemplifies its commitment to leveraging technology for universal access to education.

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.