Bank CEOs meet with Trump to discuss Fannie Mae and Freddie Mac - Bloomberg
PETAH TIKVA, Israel - Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a global provider of satellite networking technology, has secured an $11 million contract for its portable satellite communication hubs, DKET 3420 terminals. The company, which maintains a strong financial position with more cash than debt and an "GREAT" overall financial health score according to InvestingPro, announced through its Defense Division that deliveries of the terminals are expected to occur later this year.
The DKET 3420 terminals are designed to offer reliable and scalable communication solutions for defense applications. They support multi-carrier operations and can accommodate up to 32 modems, optimizing satellite bandwidth utilization. This contract adds to Gilat's robust revenue stream, which grew nearly 15% in the last twelve months to $305.45 million. Gilad Landsberg, President of Gilat Defense, emphasized the contract's reflection of the company's commitment to delivering advanced SATCOM solutions to the defense sector.
Nicole Robinson, President of DataPath, a Gilat subsidiary, expressed pride in the order, which underscores the trust in their technology and dedication to providing mission-critical satellite communication solutions. The DKET terminals are tailored to meet the changing requirements of defense customers, ensuring connectivity in various environments.
Gilat Satellite Networks has a history spanning over 35 years in the satellite communications industry. The company, along with its subsidiaries, offers a range of products and services, including ground and space-based connectivity solutions. These cater to commercial and defense applications such as government and defense, in-flight connectivity, broadband access, cellular backhaul, and more.
The company's comprehensive portfolio includes cloud-based platforms, modems, high-performance satellite terminals, antennas, amplifiers, and integrated ground systems for both commercial and defense markets. Gilat also provides field services, network management software, and cybersecurity services. With a market capitalization of $314.51 million and currently trading below its Fair Value according to InvestingPro analysis, the company maintains healthy financials with a current ratio of 2.52 and a strong gross profit margin of 37.1%. For deeper insights into Gilat's valuation and growth potential, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
This announcement is based on a press release statement and contains forward-looking statements that involve risks and uncertainties. Factors that could affect Gilat's performance include market conditions, technological changes, competition, and geopolitical challenges. The company does not assume any obligation to update forward-looking statements.
In other recent news, Gilat Satellite Networks Ltd. reported its fourth-quarter 2024 earnings, revealing a revenue of $78.1 million, which was below the anticipated $82.65 million. However, the company exceeded expectations with an earnings per share of $0.15, compared to a forecast of $0.11. Additionally, Gilat provided its financial guidance for fiscal year 2025, projecting revenue growth between 35% to 50%, with significant contributions from its recent acquisition of Stellar Blu. In another development, Gilat's subsidiary, Gilat Defense, secured a contract worth up to $23 million with the U.S. Department of Defense to support Satellite Transportable Terminal units. Moreover, Gilat has invested up to $3.5 million in Crosense, a startup specializing in drone detection technology, as part of a round co-led by Frontier Capital. Analyst firm Needham maintained its Buy rating on Gilat stock, with a price target of $8.50, reflecting confidence in the company's strategic direction. These developments highlight Gilat's ongoing efforts to expand its presence in the defense and commercial sectors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.