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.
Company Overview
Gilat Satellite Networks Ltd is a renowned global provider of satellite-based broadband communications. With decades of expertise, the company designs, manufactures, and integrates sophisticated ground segment equipment that powers a wide spectrum of communication applications. At its core, Gilat delivers a cloud-based platform and a comprehensive suite of high-performance technologies aimed at ensuring secure and resilient connectivity for various critical sectors.
Product Portfolio and Technology
Gilat's diversified portfolio is a reflection of its commitment to cutting-edge innovation in the satellite communications industry. The company offers advanced VSAT terminals, high-speed modems, on-the-move antennas, and robust components such as high-power solid state amplifiers (SSPAs) and block upconverters (BUCs). These products are designed to support a wide range of mission-critical applications while meeting the highest standards of reliability and performance. The integration of a cloud-based network platform further enhances its ability to offer scalable, secure, and adaptable solutions tailored to specific customer requirements.
Market Applications and Customer Segments
Gilat's solutions address the connectivity challenges of multiple market segments. Its technologies enable robust broadband access for enterprise networks, cellular backhaul, and even in-flight connectivity solutions. The company's offerings have also been widely adopted in maritime communications, rail networks, defense, aerospace, broadcast, government, and public safety sectors. Each solution is engineered to deliver high-value performance under the most demanding operational conditions, highlighting Gilat's expertise in managing complex, mission-critical communications infrastructures.
Innovation and Competitive Differentiators
Innovation is at the heart of Gilat's operations. The company continually evolves its technology offering by integrating modern, software-defined approaches with its hardware expertise. This seamless blend of innovation and engineering excellence allows Gilat to provide secure, end-to-end solutions that are both adaptable and scalable. By offering a comprehensive suite of products that address intertwined aspects of satellite, ground, and new space connectivity, Gilat distinguishes itself in a competitive market where performance, reliability, and security are paramount.
Industry Position and Operational Excellence
Positioned within a dynamic and evolving industry, Gilat has established a robust reputation for its operational excellence and technical ingenuity. The company serves a diverse clientele ranging from commercial enterprises to defense and governmental agencies. Its ability to deliver high-performance solutions that are both versatile and reliable forms the cornerstone of its competitive positioning in the global satellite communications market. The emphasis on providing comprehensive, tailor-made solutions supports its mission to meet stringent service level demands across multiple applications.
Comprehensive End-to-End Solutions
The value proposition of Gilat is further enhanced by its holistic approach to system design and customer service. The company not only supplies state-of-the-art hardware but also integrates its offerings with advanced network management and cybersecurity features. This end-to-end service model ensures that clients receive a complete, secure communications ecosystem that is optimized for efficiency, resiliency, and high operational standards.
Conclusion
In summary, Gilat Satellite Networks Ltd stands as a pillar in the satellite communications industry. Through its deep technological expertise and commitment to developing comprehensive, secure, and resilient connectivity solutions, the company continues to support a wide range of critical applications. Its focus on engineering excellence, innovation, and service integration positions it as an authoritative source of high-performance communications technology in an increasingly connected world.
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.
Gilat Satellite Networks announced a multi-million-dollar follow-on order for high-speed modems from SES, enhancing their partnership. This order for high-throughput modems aims to provide multi Gbps connectivity targeting high-end services over SES's O3b and O3b mPOWER MEO constellations. The modems will enable SES to offer fiber-equivalent services for government and enterprise solutions. Amir Yafe, Head of Global Accounts at Gilat, emphasized the importance of this collaboration in meeting the increasing demand for low-latency global broadband connectivity.
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