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Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a global leader in satellite-based broadband communications. With over 35 years of experience, Gilat designs and manufactures advanced ground segment equipment and delivers comprehensive solutions and end-to-end services. Their innovative portfolio includes a cloud-based VSAT network platform, high-speed modems, high-performance antennas, and high-power solid-state amplifiers (SSPA) and block upconverters (BUC).
Gilat’s solutions support a wide range of applications, including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense, and public safety. The company's products are known for their reliability and efficiency, meeting the most stringent service level requirements.
Recent achievements include:
- Providing additional 50W Ka-band BUCs for mobile Satellite Transportable Terminals (STTs).
- Supplying baseband equipment for comprehensive satellite communication architecture.
- Supporting social inclusion projects that provide internet connectivity in remote areas.
- Expanding In-Flight Connectivity (IFC) footprint into business aviation and government markets with the Taurus modem.
- Developing next-generation software-defined radio modems for military applications.
- Enabling SES's O3b mPOWER constellation with the SkyEdge IV platform for unparalleled service flexibility and scale.
Gilat's strong financial performance is highlighted by a 29% year-over-year revenue growth, GAAP operating income of $5.4 million, and an adjusted EBITDA of $9.3 million.
For more information, please visit: www.gilat.com
Gilat Satellite Networks (NASDAQ, TASE: GILT) will release its fourth quarter and full year 2020 financial results on February 16, 2021. Following the announcement, CEO Adi Sfadia and CFO Bosmat Halpern will host a conference call to discuss the results and participate in a Q&A session. The call will start at 09:30 AM EST and be accessible via dial-in numbers and a webcast on the company's website. A replay of the conference call will be available from February 16 to February 19, 2021.
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.
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