Gilat Satellite Networks Ltd - GILT STOCK NEWS

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.

Gilat Satellite Networks (NASDAQ: GILT) announced participation in the 25th Annual Needham Growth Conference on January 11, 2023, at the Lotte New York Palace Hotel. Management, including CEO Adi Sfadia and CFO Gil Benyamini, will engage in one-on-one investor meetings. The conference presentation is scheduled for 8 AM Eastern Time. Interested parties can arrange meetings through Needham representatives or by contacting Gilat's investor relations team via email.

Gilat Satellite Networks Ltd. (NASDAQ: GILT) announces a significant expansion in partnership with Intelsat to enhance in-flight connectivity (IFC) in the Americas. This multimillion-dollar agreement will expand Gilat hubs in the USA and Brazil to meet the rising demand for bandwidth on Intelsat's IFC network. Gilat’s proven solutions aim to deliver high-quality communications to air travelers, supporting the post-COVID recovery of IFC services.

Gilat Satellite Networks (Nasdaq: GILT) has been chosen by Comlabs Government Systems to enhance satellite connectivity for various federal, state, and local agencies in the U.S., including nuclear facilities. This upgrade involves deploying two SkyEdge II-c hubs and numerous VSATs to ensure ‘Hyper Critical Availability’ connectivity for emergency management. Gilat's technology will facilitate the efficient distribution of alerts and warnings, reinforcing the company's foothold in the U.S. government sector, as stated by executives from both companies.