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PETAH TIKVA, Israel - Gilat Satellite Networks Ltd. (NASDAQ:GILT, TASE:GILT), a satellite communications company with a market capitalization of $446 million, announced Tuesday it has been awarded a contract valued at over $8 million by Israel’s Ministry of Defense for satellite communication systems and services. According to InvestingPro data, the company appears slightly undervalued based on its Fair Value calculations.
The contract requires Gilat’s defense division to deliver and integrate advanced SATCOM systems designed for Israel’s defense forces within the next 12 months. According to the company’s press release statement, these systems are specifically engineered to operate in harsh and unpredictable environments. The company has demonstrated strong financial performance, with InvestingPro data showing a remarkable 67% return over the past year and maintaining a GOOD overall financial health score.
Gilad Landsberg, President of Gilat Defense, said the contract "highlights the strength of our unified defense offering, bringing together Gilat, Gilat Wavestream, and Gilat DataPath into one cohesive team."
Gilat Satellite Networks, headquartered in Israel, provides satellite-based broadband communications with over 35 years of experience in the industry. The company offers solutions for both commercial and defense applications through its various divisions.
The Israeli defense market was identified as a strategic priority for Gilat, according to the company’s statement. This contract represents the company’s continued focus on defense applications of its satellite communication technology.
Gilat Satellite Networks specializes in cloud-based platforms, modems, satellite terminals, antennas, power amplifiers, and integrated ground systems for various markets including government, defense, in-flight connectivity, broadband access, and cellular backhaul. With revenue growth expected this year and operating with moderate debt levels, the company maintains a solid financial position. For deeper insights into GILT’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
In other recent news, Gilat Satellite Networks Ltd. has announced a series of significant developments. The company secured approximately $60 million in orders from Peru’s national telecommunications program, Pronatel, to upgrade regional broadband infrastructure. This project aims to deliver high-speed internet to nearly 800 public institutions across 280 localities. Additionally, Gilat’s subsidiary, Gilat DataPath, won a $7 million contract to provide field and technical services to the U.S. Army, with potential extensions that could increase the total value to $70 million.
Gilat also reported receiving over $22 million in orders from satellite operators worldwide, focusing on supporting connectivity across various satellite constellations. Another notable contract includes a $27 million agreement for Gilat’s Stellar Blu™ ESA Terminal technology, expected to be delivered primarily over the next year. Furthermore, the company secured a $40 million contract for its SkyEdge IV platform, which emphasizes advancements in satellite ground network transformation. These developments highlight Gilat’s ongoing efforts to enhance its technology and expand its market presence.
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