CEO Yona Ovadia said Gilat had $104 million on hand as of Dec. 31 and will have sufficient resources for significant financial plays even after subtracting the dividend.
FIRST UP Satcom is a weekly SpaceNews newsletter for satellite and telecom professionals.
FIRST UP Satcom is a weekly SpaceNews newsletter for satellite and telecom professionals.
Satellite hardware and network builder Gilat of Israel, seeking to interest cellular operators in expanding their reach by satellite, is pressing forward with a strategy of building the entire network for them in exchange for multi-year commitments to pay for the service.
Satellite fleet operator SES on April 27 said Internet social-media giant Facebook had leased capacity on three in-orbit SES satellites to provide Wi-Fi connectivity in sub-Saharan Africa.
Satellite broadband ground hardware manufacturer Gilat Satellite Networks on Aug. 12 reported lower revenue and profit, saying expected U.S. government contracts had not materialized and that commercial business was also slow in coming.
Gilat’s second senior management change this year comes as the satellite terminal manufacturer shifts its focus from military markets to faster-growing commercial businesses
Gilat Satellite Networks said its business, both military and civil/commercial, is on the upswing and should improve markedly by late this year.
Gilat reported sharply lower revenue and operating earnings for 2013 but said its backlog rose on South American government broadband-deployment contracts.
Gilat will supply satellite network hardware and services to the Colombian government.
Gilat Satellite Networks lowered its 2013 revenue and profit forecast for the second time in four months as expected Latin American contracts were delayed and its Pentagon business continued to suffer from pressure on U.S. military spending.
Spacenet is being sold to Tulsa, Okla.-based SageNet for about $16 million.
Gilat said it will take an impairment charge on its Wavestream division because of Pentagon budget uncertainty.
Satellite networking equipment provider Gilat Satellite Networks is looking past the current U.S. government budget turmoil to the day when the U.S. and other militaries are broadband-equipped just about down to the last pair of field binoculars.
PARIS — Wavestream Corp. will deliver 100- and 200-watt Ku-band solid-state power amplifiers to Harris CapRock Communications for integration into Harris CapRock’s maritime satellite communications antennas, Wavestream owner Gilat Satellite Networks announced June 12.
PARIS — Satellite broadband terminal provider Gilat Satellite Networks on May 23 reported a decline in revenue and profit for the three months ending March 31 but said it expects the business to recover later this year.
