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. (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 Ltd. has successfully demonstrated a proof of concept (PoC) for converting analog signals to digital signals using the Digital Intermediate Frequency Interoperability (DIFI) 1.1 Standard. The event, showcased at Satellite 2023 in Washington, D.C., aims to enhance interoperability within the space industry’s digital transformation. This PoC highlights the digital modulator's ability to output a DVB-S2X conformant signal interoperable with a Block Upconverter (BUC) from Gilat's subsidiary, Wavestream. The DIFI standard holds promise for significant advancements in network performance and flexibility as the industry adapts to customer demands.
Gilat Satellite Networks Ltd. (Nasdaq: GILT) has announced the acquisition of DataPath, Inc., a leader in US Department of Defense communications. This acquisition aims to expand Gilat's presence in the Defense market, projecting an annual revenue increase of approximately $50 million. The transaction, approved by both companies' boards, is subject to regulatory approvals and is expected to close in Q3 2023. DataPath brings over 25 years of experience and specializes in mission-critical communications, enhancing Gilat's strategic position in the DoD sector. Both companies anticipate profitable growth together.
Gilat Satellite Networks has announced the launch of its new Wavestream Endurance 500W Ka-Wideband Block Upconverter, a solid-state power amplifier designed to disrupt the TWT amplifier market. This product features a fully redundant design for maximum power availability, covering both military and commercial Ka frequency bands. Currently being evaluated by the US DoD for a significant SATCOM program, Gilat anticipates follow-on orders worth millions of dollars. Wavestream has a strong track record of delivering high-performance satellite communications products, contributing to the company's robust market position.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced its participation in the 35th Annual Roth Conference on March 6, 2023, at the Ritz Carlton in Laguna Niguel, California. Chief Financial Officer Gil Benyamini will hold one-on-one meetings with investors. Interested parties can schedule meetings by contacting Roth representatives or the investor relations team via email.
Gilat is recognized globally for its satellite-based broadband communications, offering advanced connectivity solutions for various applications, including military and enterprise sectors. For more details about Gilat's technology and services, visit www.gilat.com.
Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced a partnership with Hispasat to utilize its SkyEdge IV platform for high-performance satellite services. This collaboration will enhance Hispasat's Amazonas Nexus satellite capabilities, which cover the Americas and the Atlantic. Hispasat aims to expand service coverage in Latin America in the second half of 2023, leveraging Gilat's cutting-edge technology. The SkyEdge IV platform provides adaptability and high throughput, aligning with Hispasat's strategic goals.
Gilat Satellite Networks has launched the SkyEdge IV Taurus-M, a state-of-the-art satellite modem designed for military and government applications.
This modem is backward compatible with the previous model, SkyEdge II-c, ensuring investment protection for existing customers. Notably, the Taurus-M is lauded as the smallest high-performance modem, ideal for use in armored vehicles and rapid deployment.
Complying with MIL-STD-810F standards, it provides high-speed satellite communications for both stationary and moving operations, catering to the growing demand for mobile satellite solutions worldwide.
Gilat Satellite Networks Ltd. (GILT) announced its collaboration with TIM Brasil, enabling the latter to achieve mobile coverage across all 5,570 municipalities in Brazil. This initiative, facilitated by Gilat's cellular backhaul over satellite solution, covers approximately 12 million hectares, primarily enhancing 4G connectivity for the agrobusiness sector. This significant milestone in digital inclusion marks TIM Brasil as the only Mobile Network Operator (MNO) to provide such extensive coverage, aiding economic development and technological accessibility in remote areas. The success reflects Gilat's strong technology and teamwork with TIM, highlighting a promising start to 2023.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced Q4 2022 revenue of $73 million, marking an 8% increase year-over-year, with GAAP operating income at $6 million. For the full year, revenue reached $240 million, up 12%, and GAAP operating income amounted to $10 million. Despite the growth, the company reported a GAAP net loss of $6 million in Q4 due to a one-time tax expense of $12.9 million. Excluding this expense, net income was $6.9 million. The company's Adjusted EBITDA stood at $10 million in Q4 and $25 million for the year, reflecting a 64% increase. Notably, Isaac Angel plans to step down as Chairman, with Ami Boehm appointed as his successor.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) has secured a multimillion-dollar contract to enhance satellite communication capabilities in Asia-Pacific trains. The contract involves the deployment of Gilat's ER7000 SATCOM On-The-Move antennas, ensuring continuous internet access for passengers. These antennas are recognized for their reliable broadband connectivity and efficiency, crucial for real-time communication. Gilat aims to leverage this project for future growth, illustrating its commitment to improving transportation networks and passenger services.
Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) has announced its plans to release the fourth quarter and full year 2022 financial results on February 14, 2023. The announcement will be followed by a conference call hosted by CEO Adi Sfadia and CFO Gil Benyamini, who will discuss the results and business achievements at 09:30 AM EST / 16:30 IST.
Participants can join via dial-in numbers or a webcast available on Gilat's website. The webcast will also be archived for 30 days. Gilat, a leader in satellite-based broadband communications, emphasizes connectivity solutions globally.
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