[Satellite TODAY 02-16-10] Gilat Satellite Networks saw revenues decline to $56.6 million in the 2009 fourth quarter, down from $66.1 million in the same period in 2008, according to financial results released Feb. 16.
    Gilat’s fourth quarter ends a down year for the company, with 2009 revenues dropping from $267.5 million in 2008 to $228.1 million.
However, the Israeli satellite company reported net income of $300,000, compared to a net loss of $6.5 million in the fourth quarter of 2008. Gilat CEO Amiram Levinberg said the company is optimistic about its projections for 2010.
    “While 2009 was characterized by a lower level of revenues, we were able to offset the reduction by implementing expense cuts which helped us improve profitability. Strong bookings in the fourth quarter enabled us to finish the year with a healthy backlog. We look at 2010 with cautious optimism: Our strong product line will support us in strengthening our market position. In addition, we are making inroads in important new markets and in 2010 we have budget expenditures for our entry into the government defense market which we believe will allow us to achieve growth in future years,” Levinberg said in a statement.