Gilat Satellite Networks Ltd. is a global provider of satellite-based broadband communications, delivering technology solutions for satellite, ground, and new space connectivity. They offer end-to-end solutions and services, including cloud-based platforms, satellite terminals, SOTM antennas, SSPAs, and BUCs, supporting multi-orbit constellations, VHTS, and SDS. Gilat partners with satellite operators, service providers, and MNOs, serving commercial and defense markets. Keywords associated with Gilat are satellite communications, broadband, ground systems, and connectivity solutions.
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Gilat reported operating income of $4,900,000 for the quarter ended 2019-06-30, a 17.9% increase from $4,100,000 in the same quarter last year.
Gilat reported $59,700,000 in revenue for the quarter ended 2019-06-30, down from $66,500,000 in the same quarter last year.
Gilat expects full-year revenue of between $275,000,000 and $295,000,000 and full-year operating income between $23,000,000 and $27,000,000.
Additional Peruvian networks coming online are expected to generate $50 million in annual service revenue for Gilat.
China Satcom previously selected Gilat in 2015 to provide the ground network for ChinaSat-16, which launched in 2017.
Fitel, Peru’s Telecommunications Investment Fund, found issues with the network supplied by Gilat that require fixing.
Gilat projects recurring service revenue from Fitel’s network in excess of $23 million a year.
Gilat had $104 million on hand as of December 31.
China Satcom selected Gilat to provide the ground network for ChinaSat-18 in 2018.
Gilat reported a 6 percent decrease in revenue to $266.4 million for 2018.
Gilat will pay shareholders a $25 million dividend this quarter.
Gilat plans to increase R&D spending further in 2019 to strengthen its position with constellation operators and in 5G network backhaul.
Gilat projected revenues for 2019 of between $275 million and $295 million.
Gilat tested one of its modems with Global Eagle Entertainment and Telesat in October.
Gilat released an upgraded version of its SkyEdge 2-c solution that supports 5G backhaul.
Gilat increased its research and development (R&D) spending from 9.9 percent of revenues in 2017 to 12.4 percent in 2018.
A significant amount of Gilat's investment in R&D is directed towards non-geosynchronous satellite constellations.
Gilat will have sufficient resources for significant financial investments after paying the dividend.
Gilat is implementing fixes to the network and hopes to complete it in the coming quarter.
Gilat announced another modem test with an unnamed maritime connectivity provider operating a teleport in Northern Europe.