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Wednesday, November 13, 2013 3:01:17 PM
Gilat Satellite Networks (GILT -8.7%) shares plunged after the company missed expectations in Q3. Revenue of $71.3M (-11% Y/Y) missed by $12.9M. EPS of -$0.04, missed by $0.04.
Management noted on the conference call that the revenue shortfall was caused by delays in 2 projects that were expected in Q3: a $12M deal with Entel and an expansion project for an existing customer in LatAm.
The company expects "Q4 will be better than Q3 ... but [does] not expect it will be enough to make up for the Q3 shortfall." It cut full-year guidance to revenue of $310M (vs. consensus of $338.2M) and EBITDA margin of 6%.
Gilat's divestment of Spacenet to SageNet has been delayed after SageNet stated "it is not willing to proceed to closing at this time based on several assertions ... At this time the closing has been delayed."
Recent GILT News
- Gilat to Participate in the 19th Annual Needham Technology, Media & Consumer Conference on May 15, 2024 • GlobeNewswire Inc. • 05/02/2024 11:03:48 AM
- Gilat to Report First Quarter 2024 Results on May 8th • GlobeNewswire Inc. • 04/17/2024 11:04:08 AM
- Gilat Received Approximately $5 Million for Providing Services to a Leading LATAM Service Provider • GlobeNewswire Inc. • 04/10/2024 11:42:53 AM
- Gilat Received Multimillion-Dollar Order from a Leading Defense Organization • GlobeNewswire Inc. • 04/09/2024 11:04:30 AM
- Gilat Expanding into Additional IFC Market Segments After Receiving Over $3 Million in Orders from a Leading IFC Service Provider • GlobeNewswire Inc. • 04/08/2024 11:05:52 AM
- Gilat Awarded Over $3M Follow-On Order for Public WiFi Service in Latin America • GlobeNewswire Inc. • 04/04/2024 11:05:13 AM
- Gilat Awarded Over $5 Million Order from the US Department of Defense • GlobeNewswire Inc. • 04/03/2024 11:04:46 AM
- US Army Awards $12 Million Contract Extension to Gilat to Sustain Anytime, Anywhere Satellite Connectivity • GlobeNewswire Inc. • 04/02/2024 11:04:14 AM
- Gilat Awarded Over $13M in Additional Orders from Satellite Operators for its World Leading SkyEdge IV and SkyEdge II-c Platforms • GlobeNewswire Inc. • 04/01/2024 11:09:28 AM
- Gilat Awarded $5 Million Order from the US Department of Defense • GlobeNewswire Inc. • 03/28/2024 11:06:09 AM
- Gilat Satellite Networks to Present at the 2024 LD Micro Invitational Conference • GlobeNewswire Inc. • 03/26/2024 11:12:26 AM
- Gilat Announces Filing of 2023 Annual Report • GlobeNewswire Inc. • 03/20/2024 01:53:36 PM
- Gilat Unveils Cloud and 5G NTN Evolution Strategy for SkyEdge IV • GlobeNewswire Inc. • 03/19/2024 11:05:18 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/06/2024 12:07:28 PM
- Safran Selects Gilat for Strategic, Multimillion-Dollar In-Flight Connectivity Program • GlobeNewswire Inc. • 03/05/2024 12:03:56 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/05/2024 12:00:08 PM
- Gilat Presents Fourth Quarter and Full Year 2023 Results • GlobeNewswire Inc. • 02/26/2024 12:06:34 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/26/2024 12:02:33 PM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 02/13/2024 01:47:33 PM
- Gilat Awarded $10 Million Follow-On Order from the US Department of Defense • GlobeNewswire Inc. • 02/08/2024 12:01:24 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/08/2024 12:00:08 PM
- Gilat to Report Fourth Quarter and Full Year 2023 Results on February 26th • GlobeNewswire Inc. • 02/07/2024 12:03:51 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/07/2024 12:00:12 PM
- Gilat Awarded Multimillion-Dollar Defense Satellite Connectivity Project • GlobeNewswire Inc. • 02/01/2024 12:03:33 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/01/2024 12:00:18 PM
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