Gilat: Q1 Earnings Snapshot
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PETAH TIKVA, Israel (AP) Gilat Satellite Networks Ltd. (GILT) on Tuesday reported a loss of $5.1 million in its first quarter.
The Petah Tikva, Israel-based company said it had a loss of 9 cents per share.
The satellite broadband communications company posted revenue of $44.7 million in the period.
Gilat shares have climbed 56% since the beginning of the year. The stock has climbed 19% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GILT at https://www.zacks.com/ap/GILT
Gilat jumps on major Asia Pacific government deal
The Israeli satellite networks company has signed deal with an Asian Pacific government corporation worth tens of millions of dollars.
Israeli company Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) saw its share price rise over 5% today after announcing a strategic agreement worth tens of millions of dollars, including a potential for significant project expansions, with a large government corporation in Asia Pacific. The equipment and multi-year managed-services contract will enable connectivity for multiple applications across the nation.
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Gilat is responsible for building and operating the network to provide nationwide coverage for a range of applications. These include strong opportunities for cellular backhaul, emergency-response and mobility applications such as Comms on-the-move and Comms on-the-pause. Gilat s multi-service single platform, SkyEdge II-c and its wide set of fine-tuned VSATS, will an
Gilat Enters Strategic Agreement Valued at Tens of Millions of Dollars with a Large Government Corporation in Asia Pacific
The equipment and multi-year managed-services contract includes enterprise connectivity, with a large potential for expansion to additional applications Gilat Satellite Networks Ltd. Petah-Tikva, ISRAEL
PETAH TIKVA, Israel, May 03, 2021 (GLOBE NEWSWIRE) Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that Gilat entered a strategic agreement valued at tens of millions of dollars, including a potential for significant project expansions, with a large government corporation in Asia Pacific. The equipment and multi-year managed-services contract will enable connectivity for multiple applications across the nation.
Peru with Approval to Enter Operational Phase, Unlocking Access to Recurring Revenue of
Multi Million Dollars per Annum
Gilat s network to provide broadband internet services to over a million and half people in the region of Cusco
Petah Tikva,
Israel -
Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that it has reached a critical milestone in
Peru with approval to enter the operational phase of the telecom project awarded in 2015 for an aggregate value of
$108M.
This phase enables the start of delivery of broadband internet services to over a million and a half people in Cusco. Entering the operational phase will enable Gilat to unlock access to recurring revenue of multi million dollars per annum of operations fees, for a period of ten years, as well as to continue selling services over the network.