[Satellite TODAY 08-12-09] Gilat Satellite Networks’ second-quarter revenues fell to $56 million, compared to $65.6 million for the same period of 2008, according to the company’s financial reports released Aug. 11.
    The Israeli satellite company took a $1.2. million net loss in the second quarter, compared to a profit of $1.3 million a year ago. “Our results for the second quarter ended lower than the comparable quarter last year, which was not unexpected in the context of the current economic environment,” Gilat CEO Amiram Levinberg said in a statement. “Despite the effects of the global recession, we are seeing a more healthy deal flow in certain regions of the world, which provides some optimism for the second half of the year. In addition, this quarter, we continued to release money from the restricted cash held by trustees in Colombia increasing our free cash by $7.6 million to a level of approximately $141 million.”
    Gilat was awarded contracts with the Columbian government to deploy SkyEdge 2 VSAT networks through its subsidiary, Spacenet, in July.
    Revenues for the company’s six-month period ending June 30 were down to $116.8 million compared to $136.1 million in 2008. Gilat reported losses of $1 million in the first half of 2009, compared to net income of $5.9 million in 2008.

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