Gilat Posts Strong Numbers
Gilat Satellite Networks announced strong increases in revenues and profits when it reported its second-quarter results on Aug. 9.
The publicly traded, Israel-based company which designs, develops and markets satellite and hybrid networking products, services and solutions to operators in 85 countries posted revenues of $70.3 million for the second quarter, up $9 million compared to the second quarter of 2006. The company also claimed quarterly net income of $5.5 million, up $3.5 million compared to second quarter 2006.
Gilat won a number of new contracts in the last month: To provide long-time customer JSC Kazakhtelecom (KT) with several hundred additional SkyEdge VSATs for KT’s existing broadband satellite network, and its Spacenet subsidiary being awarded two contract extensions to provide a high-speed VSAT data network to both American Municipal Power Ohio (AMP-Ohio) and Fazoli’s Restaurants, a U.S.-based Italian restaurant chain. Gilat also received an order from Latin American satellite service provider Axesat to provide it with a SkyEdge broadband satellite network comprised of a hub and more than 400 SkyEdge VSATs.