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Gilat Satellite Networks Announces Revised Management Objective Targets for 2013
Thursday 18 July 2013
- Revision Reflects Lower Than Previously Expected Annual Results, Including Lower Revenue and Earnings Results in the Second Quarter of 2013 Compared to the First Quarter of 2013
- Second Quarter 2013 Financial Results Will be Released on Wednesday, August 14, 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT) (TASE:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that it has revised its management objective targets for 2013. Revenue for 2013 is now expected to be between $335 million to $345 million as compared to the previously stated range of $350 million to $360 million and EBITDA is expected to be approximately 7% as compared to 9%.
The projected revenue and earnings shortfall is primarily due to lower than expected sales in the Defense division related directly to sequester budget cuts and purchasing slowdowns by the U.S. Department of Defense. An additional factor for the shortfall is the Compartel contract which, as reported earlier in the year, ended on March 31, 2013 and was not extended.
"We are targeting defense programs of record that are strategic in nature and as such we remain confident about the long term prospects of our Defense division," said Erez Antebi, CEO of Gilat Satellite Networks. "We will provide a business overview during our regularly scheduled earnings release and conference call on August 14."
Second Quarter 2013 Earnings Announcement Schedule
Second quarter 2013 financial results will be released on Wednesday, August 14, 2013.
Webcast
Following the announcement, Erez Antebi, Chief Executive Officer, and Yaniv Reinhold, Chief Financial Officer, will discuss the Company's second quarter 2013 results and participate in a question and answer session:
Date: Wednesday, August 14, 2013
Start: 13:30 GMT / 09:30 EDT / 16:30 IDT
Dial-in: US: (888) 668-9141
International: (972) 3-918-0609
A recording of the webcast will also be available on the Company's website and will be archived for a period of 30 days.
Webcast Replay
Start: August 14, 2013 at 16:00 GMT / 12:00 EDT / 19:00 IDT
End: August 16, 2013 at 16:00 GMT / 12:00 EDT / 19:00 IDT
Dial-in: US: (888) 782-4291
International: (972) 3-925-5927
Gilat's SkyEdge II HUB and VSATs to Deliver Education to Around 2,500 Schools in Southeast Asia
Tuesday 4 June 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced it was selected by one of the largest Southeast Asian telecommunication operators to provide satellite-based broadband Internet connectivity to around 2,500 schools nationwide.
Adding to the tens of thousands of schools around the world already supported by Gilat's SkyEdge VSATs for broadband internet access, this project includes the deployment of two SkyEdge II HUBs and WebEnhance VSATs for the schools.
The venture is part of a government sponsored eLearning initiative to bring internet connectivity to thousands of school children in an effort to reduce the communication gap in the country, fostering equal access to education in outlying areas. Gilat SkyEdge II platform will enable the schools with broadband connectivity supporting data rates of up to 2 Mbps.
"Supporting some of the world's largest eLearning initiatives, we are proud to have our technology make a lasting and noticeable contribution to children's lives," said Stephane Palomba, Regional VP for Asia, Gilat. "In this project, we are leveraging Gilat's SkyEdge II platform and our innovative WebEnhance VSAT that will be used to bring broadband connectivity to the schools."
Based on the innovative CacheMode technology, the WebEnhance VSATs will provide students with an enhanced user experience with accelerated web browsing. To learn more about SkyEdge II and WebEnhance, please visit www.gilat.com/SkyEdge-II.
Gilat Satellite Networks Wins 'VSAT Provider of the Year Award' at SatCom Africa 2013
Today : Thursday 30 May 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that it received the "VSAT Provider of the Year Award" at a gala dinner held Tuesday night at the Sandton Sun Hotel during the SatCom Africa 2013 conference in Johannesburg, South Africa.
For over a quarter century and with over a million products shipped to more than 85 countries, Gilat has provided enterprises, service providers and operators with efficient and reliable satellite-based connectivity solutions for consumers and enterprises, cellular backhaul for mobile operators, banking and retail solutions, rural communication networks and e-government.
Earlier in the year, Gilat launched to market its ground-breaking SkyEdge II-c platform, the New Simple in Internet Connectivity. SkyEdge II-c supports Ka-band and Ku-band internet services for both consumer and enterprise applications, including fast web browsing, video streaming, IPTV, VoIP and other bandwidth-intensive services.
"We are very honored to receive the 'VSAT Provider of the Year Award' and proud to see the impact our products have and continue to make around the globe," said Erez Antebi, CEO of Gilat Satellite Networks. "Our SkyEdge VSATs are providing the communications infrastructure that enables millions of students around the world to receive the education they deserve, rural communities the communication they need, remote customers the banking and finance services they need and enterprises the reach to better serve their customers. We look forward to many years to come of providing the technology and infrastructure needed to connect the dots around globe."
The criteria for the VSAT Provider of the Year Award included the number of terminals delivering services, rate of growth, amount of bandwidth deployed, variety of sectors serviced and services available.
Hedge Funds Are Selling 2 Foreign Tech Stocks That May Be Undervalued
May 21 2013, 03:28 | about: GILT, TLK
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)
Below is a list of two technology companies, based in Israel and Indonesia, currently being sold by hedge funds. They appear undervalued based on levered free cash flow/enterprise value ratios, but vary widely across other metrics.
To create the list we began with a screen of the foreign technology sector for stocks with bearish sentiment from institutional investors, with significant net institutional sales over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these companies to underperform in the future.
We then screened for companies that appear undervalued relative to their cash flows, indicated by high ratios of levered free cash flow/enterprise value. Levered free cash flow can be used to pay dividends, pay for expansion or finance growth opportunities by taking on debt.
Levered free cash flow is the free cash flow after deducting interest payments on outstanding debt. Enterprise value is the sum of the firm's value from all ownership sources: market cap, outstanding debt, and preferred shares. When companies have ratios of levered free cash flow/enterprise value in excess of 10%, it may indicate that the company as a whole is being undervalued.
We were left with a list of two companies, detailed below with more financial data, particularly measures of valuation.
The List
For an interactive version of this chart, click on the image below. One year returns sourced from Zacks Investment Research.
Do you think these stocks deserve to be sold off by institutional investors? Use the list below as a starting point for your own analysis.
1. Gilat Satellite Networks Ltd. (GILT): Provides Internet Protocol (IP) based digital satellite communication and networking products and services worldwide.
Market cap at $220.59M, most recent closing price at $5.31
P/E: N/A; global industry average: 34.92
Forward P/E: 27.84; global industry average: 27.26
PEG: N/A; global industry average: 3.08
Price-to-book ratio: 0.92; global industry average: 2.39
Price-to-free cash flow ratio: 13.10; global industry average: 55.00
Debt/Equity: 0.22, global industry average: 0.35
Net institutional sales in the current quarter at -1.8M shares, which represents about 8.47% of the company's float of 21.25M shares.
Levered free cash flow at $39.15M vs. enterprise value at $198.72M (implies a LFCF/EV ratio at 19.7%).
GILT has returned -7.45% since 4/15/13, and is one of the worst performing stocks in its industry. The stock is falling behind companies like ViaSat Inc. (VSAT) and ShoreTel, Inc. (SHOR), which returned 28.19% and 26.69% during the same time period.
The company's earnings growth looks weak, with EPS growing by -291.84% over the last year. This is considerably weaker than competitors like EchoStar Corp. (EPS growth over the last year at 5642.92%) and Comtech Telecommunications Corp. (EPS growth over the last year at -36.02%).
GILT has a low short float compared to industry averages, suggesting perhaps that short sellers see limited downside in the stock. The company's short float stands at 0.04%, much lower than ViaSat Inc. (short float at 8.97%, representing 18.26 days of trading volume) and Comtech Telecommunications Corp. (short float at 4.10%, representing 5.32 days of trading volume).
GILT released its most recent earnings report on 5/8/2013, and as The Motley Fool reports, reported revenue of $82.8 million which fell slightly below analyst expectations. Net margins and operating margins grew, as did revenue over the same quarter in the previous year. However, gross margin shrank by 90 basis points compared to the prior-year quarter. Motley Fool CAPS gives GILT a five out of five star rating, and 23 of 23 CAPS All-Star picks give the stock a green thumbs-up.
Gilat Announces First Quarter 2013 Results
Wednesday 8 May 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT) (TASE:GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the first quarter ended March 31, 2013.
Key Financial Highlights:
Quarterly revenues of $82.8 million, up 8% compared to $76.6 million in the first quarter of 2012
EBITDA increased to $5.1 million, up 74% compared to $3.0 million in the first quarter of 2012
Total Cash increased by $3.3 million
Revenues for the first quarter of 2013 were $82.8 million, compared to $76.6 million for the same period in 2012.
On a non-GAAP basis, operating income for the first quarter of 2013 was $1.0 million compared to an operating loss of $0.3 million in the first quarter of 2012. Net loss for the period on a non-GAAP basis was $0.3 million, or $0.01 per diluted share, compared to net loss of $0.8 million, or $0.02 per diluted share, in the comparable period in 2012.
EBITDA for the first quarter of 2013 reached $5.1 million compared with $3.0 million in the comparable period in 2012, representing a margin of 6.2%.
"We are pleased with our results for the first quarter of 2013 as we achieved year-over-year improvement in revenue and EBITDA," said Erez Antebi, Chief Executive Officer of Gilat. "Our Commercial division continues to be a significant source of revenue as we executed well on existing projects while closing new deals.
In addition to securing various enterprise deals, in the area of broadband internet access we have continued our progress with implementation ahead of schedule at NBN Co. with over 30,000 CPEs installed, over 6,000 CPEs delivered in support of the SBBS service and a major win in our Services division with the Peruvian Ministry of Education to connect thousands of schools nationwide."
"In our Defense division, although Sequestration has limited our overall visibility," continued Antebi, "we continue to deliver on new and existing projects with defense and aviation system integrators. We are confident in our ability to increase service to international defense markets and believe this will offset to some degree, the uncertainty in the U.S."
Key Recent Announcements:
NordNet Deploys Gilat's SkyEdge II-c VSATs for High-end Broadband-Over-Satellite Service in France;
Gilat to Equip IDF with SatTrooper-1000 Military Manpack for Advanced Tactical Communications;
HISPASAT Expands Broadband Satellite-based Network With Additional SkyEdge II System from Gilat;
Gilat Peru Wins $12.8 Million Contract with Peruvian Ministry of Education to Connect Thousands of Schools Nationwide;
Gilat Launches the New Scalable SkyEdge II-c Platform For Ka and Ku-band Internet Access.
Conference Call and Webcast Details:
Gilat management will host a conference call today at 13:30 GMT/ 09:30 EDT/ 16:30 IDT (Israel Daylight Time) to discuss the results. International participants are invited to access the call at (972) 3-918-0610, and US-based participants are invited to access the call by dialing (888) 407-2553. A replay of the conference call will be available beginning at approximately 16:00 GMT/ 12:00 EDT/ 19:00 IDT today, until 16:00 GMT/ 12:00 EDT/ 19:00 IDT May 10, 2013. International participants are invited to access the replay at (972) 3-925-5900 and US-based participants are invited to access the replay by dialing (888) 782-4291. A replay of the call may also be accessed as a webcast via Gilat's website at www.gilat.com and will be archived for 30 days.
NordNet Deploys Gilat's SkyEdge II-c VSATs for High-End Broadband-Over-Satellite Service in France
Today : Tuesday 30 April 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT) (TASE:GILT), a worldwide leader in satellite networking technology, solutions and services, and France-based NordNet, a subsidiary of France Telecom and one of Europe's largest satellite broadband ISPs, announced today the commercial deployment of Gilat's Ka-band VSATs in support of SES Broadband Services' (SBBS) Ka-band consumer service rollout.
"We are very excited with the service take-up so far which allows us to provide our customers with a true alternative to low-end DSL," said Francis Piet, CEO of NordNet. "We are proud to have made the promise of affordable, high-end broadband services a reality for many French households and Gilat is helping us to get there."
Gilat's award winning SkyEdge II-c "Aries" VSAT provides up to 20Mbps HTTP on download and 2Mbps on upload, offering one of the fastest broadband-over-satellite services currently available in France. With Aries, French households who lack high-quality DSL services will be able to benefit from considerably faster Internet speeds, allowing them to take full advantage of all triple-play services.
"We are very happy to be working with NordNet as they roll out the SBBS service in France. The Aries VSAT was designed from the bottom up to support the stringent requirements of residential broadband – offering reliable high-speed data rates with quick and intuitive self-installation features and automatic service activation," said Erez Antebi, CEO at Gilat. "The strong initial demand for the service is a testament to the growing place of broadband-over-satellite as a viable communication resource for households."
About NordNet
Since 1995, NordNet provides a wide range of Internet solutions for private and professional use. The company, a subsidiary of France Telecom, has gradually developed its expertise in the field of Internet and integrated solutions. For more information www.nordnet.com.
Gilat to Equip IDF With SatTrooper-1000 Military Manpack for Advanced Tactical Communications
Lightweight Portable Solution Uses Broadband Satellite Communication to Provide Data, Video and Telephony Under Toughest Field Conditions
PETAH TIKVA, Israel, Apr 23, 2013 (GLOBE NEWSWIRE via COMTEX) -- Gilat Satellite Networks Ltd. GILT +0.53% (tase:GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that the Israel Defense Forces (IDF) has selected its SatTrooper-1000 military Manpack terminal for advanced tactical field communications. The Manpack was tailor made to address the unique field requirements of the IDF ground forces.
The SatTrooper-1000 will provide Israeli soldiers with dependable data, video and telephony at broadband speeds. Weighing only 13 kilos, the compact and easy-to-carry terminal is highly efficient and can be set up in minutes by a single warfighter. The rugged design of the auto pointing antenna enables rapid connectivity even in the harshest environmental conditions.
"Net centric warfare has increased the importance of quick-deploy satellite based communication solutions in today's battle field," said Res. Gen. Moshe (Chico) Tamir, Gilat's Vice President of Defense and Homeland Security. "Intelligence superiority is a critical necessity on the battle field wherever and whenever required. Our SatTrooper Manpack was built taking into account the harshest and most demanding battle conditions, adhering to the stringent communication requirements of the IDF."
For more information about Gilat's satellite communications solutions for the defense and homeland security market, please click here.
About Gilat Satellite Networks Ltd.
Gilat Satellite Networks Ltd. GILT +0.53% (tase:GILT) is a leading provider of products and services for satellite-based broadband communications. Gilat develops and markets a wide range of high-performance satellite ground segment equipment and VSATs, with an increasing focus on the consumer and Ka-band market. In addition, Gilat enables mobile SOTM (Satellite-on-the-Move) solutions providing low-profile antennas, next generation solid-state power amplifiers and modems. Gilat also provides managed network and satellite-based services for rural telephony and Internet access via its subsidiaries in the United States, Peru and Colombia.
With over 25 years of experience, and over a million products shipped to more than 85 countries, Gilat has provided enterprises, service providers and operators with efficient and reliable satellite-based connectivity solutions, including cellular backhaul, banking, retail, e-government and rural communication networks. Gilat also enables leading defense, public security and news organizations to implement advanced, on-the-move tactical communications on board their land, air and sea fleets using Gilat's high-performance SOTM solutions. For more information, please visit us at www.gilat.com
HISPASAT Expands Broadband Satellite-Based Network With Additional SkyEdge II System From Gilat
Today : Wednesday 20 March 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that Spanish satellite operator HISPASAT is expanding its broadband satellite-based network with an additional SkyEdge II system. The new contract marks the third segment expansion of the network launched in 2011 in support of the Spanish government's Avanza 100% broadband access program.
The SkyEdge II system will support thousands of new broadband users residing in under-serviced areas across Spain expected to join the network by the end of this year.
"The ongoing success of this project is made possible thanks to the strong partnership Gilat and HISPASAT have developed collaborating on this national initiative," said Pedro Pinto Marin, Director Broadband Services at HISPASAT. "The flexibility embedded in Gilat's SkyEdge II system allowed us to offer our customers residing in under-serviced areas a true alternative for broadband access both in terms of performance and price."
As part of the network, Gilat's SkyEdge II system supports 32APSK Adaptive Coding and Modulation transmission to maximize space segment efficiency. Combined with the beam capabilities of HISPASAT's 1E satellite, the network can boast speeds of up to 100 Mbps per 36 MHz transponder. This is a key feature for providing high quality services for the residential sector at prices low enough to rival those offered by terrestrial networks.
"We are delighted to have been awarded this opportunity to strengthen our relationship with HISPASAT. Their satellite engineering excellence coupled with Gilat's innovative technology has proved that efficient and optimized VSAT solutions can be applied to the residential internet access market," said Aharon Fuchs, Gilat's Regional Vice President Europe. "We look forward to applying our combined expertise to other markets across the world, and to leveraging new Ka-band frequencies as they become available."
About HISPASAT
The HISPASAT Group is comprised of companies with a presence in Spain as well as Latin America, where its Brazilian affiliate HISPAMAR operates the Amazonas fleet of satellites. The Group is the leading satellite communications operator in the broadcast and distribution of content in Spanish and Portuguese, including the transmission of the major Direct to Home (DTH) and High Definition digital television platforms. HISPASAT is one of the world's largest companies in the sector by revenue and the main communications bridge between Europe and Latin America.
Gilat to Introduce New Revenue-Enhancing Satellite Broadband Solutions at Satellite 2013
Today : Thursday 14 March 2013
- The Future in Satellite Internet Connectivity Will be Showcased Along With Major Advancements in Land and Air SOTM Applications -
Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, announced today it will showcase its newest solutions for internet connectivity as well as key advancements in land and air SOTM (satellite-on-the-move) applications at the Satellite 2013 show, taking place March 18 - March 21, 2013 in Washington, DC. These solutions are designed to benefit communication professionals and end users both in developed and emerging markets.
Gilat's Satellite 2013 highlights will include:
The 'New Simple' in Internet Connectivity, Gilat's new SkyEdge II-c system offers ISPs and VNO's the business edge they are looking for in today's competitive world. The compact, fully integrated, easy to install system allows them to start small and expand as demand grows while delivering the business flexibility they need to provide customized and competitive Internet connectivity services.
A breakthrough solution in content contribution and distribution for broadcasters, Spacenet's Dual-Access platform combines the flexibility, control and efficiency of TDMA with the sheer speed of SCPC. This 'make-or-break' advantage for today's broadcasters will be demonstrated live at the show.
Selected by Honeywell for their airborne antenna systems to provide in-flight connectivity to the Inmarsat Global Xpress (GX) network, Gilat's Wavestream amplifiers and transceivers set the highest standards for performance, efficiency and power. Among the Wavestream products we will be featuring are the Aerostream Transceiver and the Matchbox Mini Block Upconverter (BUC).
Gilat's new UAV terminal addresses the defense and military market's critical need to exploit the full capabilities of the aircraft's operational range. As one of the industry's smallest and most compact aerial solutions in its category, the Gilat integrated approach can dramatically increase mission effectiveness.
The EagleRay 7000 is part of Gilat's RaySat series of low-profile, in-motion, two-way antennas for mobile communications-on-the-move (COTM). Compact, aerodynamic and vehicle-mounted, the new EagleRay 7000 is a step ahead of other antennas in its category in delivering mission-critical data, voice and video for secure, real-time information flow at speeds exceeding 10 Mbps on standard satellites. The antenna can be operated virtually anywhere in the world.
These products will be joined by other Gilat VSAT innovations, SOTM antennas, military solutions, and BUCs and transceivers at booth #6057. To set a meeting with one of our product experts, please contact us here: http://www.gilat.com/satellite-2013-conference-and-exhibition
About Gilat Satellite Networks Ltd.
Gilat Satellite Networks Ltd (Nasdaq:GILT) (TASE:GILT) is a leading provider of products and services for satellite-based broadband communications. Gilat develops and markets a wide range of high-performance satellite ground segment equipment and VSATs, with an increasing focus on the consumer and Ka-band market. In addition, Gilat enables mobile SOTM (Satellite-on-the-Move) solutions providing low-profile antennas, next generation solid-state power amplifiers and modems. Gilat also provides managed network and satellite-based services for rural telephony and Internet access via its subsidiaries in the United States, Peru and Colombia.
With over 25 years of experience, and over a million products shipped to more than 85 countries, Gilat has provided enterprises, service providers and operators with efficient and reliable satellite-based connectivity solutions, including cellular backhaul, banking, retail, e-government and rural communication networks. Gilat also enables leading defense, public security and news organizations to implement advanced, on-the-move tactical communications on board their land, air and sea fleets using Gilat's high-performance SOTM solutions. For more information, please visit us at www.gilat.com
The Gilat Satellite Networks Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5848
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with Gilat's international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat's business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.
CONTACT: David Leichner
Gilat Satellite Networks, LTD.
+1 516 478 9697
davidle@gilat.com
Gilat wins $12.8m Peruvian contract
The company will supply and maintain SkyEdge II-c hub and Aries VSAT to provide Internet connectivity to 2,600 schools nationwide.
28 February 13 16:21, Globes' correspondent
Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) has won a $12.8 million three-year contract with Peru's Ministry of Education. The company will supply and maintain SkyEdge II-c hub and Aries VSAT to provide Internet connectivity to 2,600 schools nationwide. The contract is part of the ministry's initiative to bring internet connectivity to thousands of Peruvian school children in an effort to reduce educational disparities in the country
"This award complements the tens of thousands of schools around the world already supported by Gilat's VSATs," said Gilat Peru and Colombia CEO Danny Fridman. "We have been an active partner for the Peruvian government in several key communication initiatives in the country and we are proud to be part of improving the quality of education for Peruvian children."
"Broadband-over-satellite forms a crucial component of our goal to provide an increasing number of school children with access to computer technology," said Sandro Marcone Flores, Head of the Directorate General of Educational Technologies at Peru's Ministry of Education.
The Peruvian contract is Gilat's fourth large contract this week, following contracts in India, Mexico, and with a global delivery service organization.
Published by Globes [online], Israel business news - www.globes-online.com - on February 28, 2013
Gilat Peru Wins $12.8 Million Contract With Peruvian Ministry of Education to Connect Thousands of Schools Nationwide
Today : Thursday 28 February 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced it was awarded a three year contract by the Peruvian Ministry of Education to provide SkyEdge II-c hub and 'Aries' VSAT equipment, installation, maintenance and technical support, aimed to provide Internet connectivity to 2,600 schools nationwide.
The contract, valued at $12.8 million, is part of the Ministry's Directorate General of Educational Technologies' (DIGETE) initiative to bring internet connectivity to thousands of Peruvian school children in an effort to reduce educational disparities in the country.
Gilat's SkyEdge II-c Aries is a compact high-throughput VSAT, designed to enable high speed broadband services and FUP (Fair Use Policy) while meeting cost efficiencies which are at the heart of government sponsored projects.
"Broadband-over-satellite forms a crucial component of our goal to provide an increasing number of school children with access to computer technology," said Sandro Marcone Flores, Head of the Directorate General of Educational Technologies. "We are delighted to have Gilat's strong track record support us in this important national initiative."
"This award complements the tens of thousands of schools around the world already supported by Gilat's VSATs," said Danny Fridman, Gilat Peru and Colombia CEO. "We have been an active partner for the Peruvian government in several key communication initiatives in the country and we are proud to be part of improving the quality of education for Peruvian children."
Gilat Launches the New Scalable SkyEdge II-c Platform for Ka and Ku-band Internet Access
Today : Monday 25 February 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced the launch of SkyEdge II-c, the New Simple in Internet Connectivity. SkyEdge II-c supports Ka-band and Ku-band internet services for both consumer and enterprise applications, including fast web browsing, video streaming, IPTV, VoIP and other bandwidth-intensive services.
Gilat has drawn on 25 years of providing satellite ground equipment, experience garnered from tens of thousands of Ku consumer users and its recent successful launch of Ka products and solutions, to introduce the SkyEdge II-c platform. SkyEdge II-c's scalable architecture enables operators to start small and expand later as demand grows, while delivering the business flexibility they need to provide customized and competitive Internet broadband services.
"It's never been easier to offer your customers the right Internet service plans and bandwidth usage levels to fit their needs," explains Hagay Katz, Gilat's AVP, Head of VSAT Line of Business. "Our new SkyEdge II-c platform dramatically simplifies your network operations and can now provide your ISPs and VNOs the business flexibility to deliver customized and competitive Internet plans and services. Compact, fully integrated, and easy to install, SkyEdge II-c is the New Simple in Internet Connectivity."
Key Features of SkyEdge II-c Platform
The SkyEdge II-c system employs sophisticated features and capabilities that help deliver competitive services while simplifying network operations, including:
TotalNMS, a completely new and modern web-based network management system provides simplified operations for small and large networks, as well as customized capabilities for Service Providers, ISPs and VNOs;
Fair Use System (FUS) delivers flexible and competitive Service Level Agreements (SLAs) including configurable usage plans per network and per ISP, free time zones allowing plan hour exclusion, top-up options with automatic redirection to walled gardens, fair allocation of bandwidth based on network congestion, customer priority and usage profile, and more;
ISP Management Interface supports wholesale service models, machine to machine and secure GUI interface to define SLAs (MIR/CIR), monitor VSAT status, and support service activation and provisioning allowing them autonomous business operations. An advanced usage-based billing system enables billing as per ISP requirements;
Multi-tiered Acceleration and Compression enables fast web surfing and application response using TCP Acceleration, Unique HTTP acceleration (DNS Caching, Pre-fetching, Compression & Optimization), Payload and IP Header compression;
Rich IPv6 Stack with comprehensive feature set and IP routers provides advanced, comprehensive support for IPv6;
Do-It-Yourself Ka VSAT Installation saves installation costs and eliminates on-going operations complexity;
New, Self-installable Compact Hub enables rapid assembly and installation with a competitive entry price that allows customers to start small with a lower initial investment and scale as needed;
Enhanced System Security provides secure service to the service provider and to end-users with over-the-air HW-based AES-256 encryption. The system also employs X.509 terminal authentication, authorization and accounting (AAA).
To learn more about SkyEdge II-c, the New Simple in Internet Connectivity, please join us for one of the following events:
Free Live Webinar
To learn more about SkyEdge II-c, please join us for a free live Webinar on Wednesday, March 13, 2013 at 10:00 am GMT entitled: "Introducing SkyEdge II-c The New Simple in Internet Connectivity." To register, please contact us here:
http://www.gilat.com/the-new-simple-in-internet-connectivity
Meet Us Satellite 2013
Or join us in person at Satellite 2013, booth #6057 for a live look of SkyEdge II-c. To set a meeting with one of our product experts, please contact us here:
http://www.gilat.com/satellite-2013-conference-and-exhibition
Nice hefty volume, wrong price direction!
Gilat Announces Fourth Quarter and Full Year 2012 Results
Fourth Quarter Highlights: Revenue Growth of 9% Over Third Quarter 2012, EBITDA Margin of 11% and $18.1 Million Cash Generated From Operating Activities
PETAH TIKVA, Israel, Feb 13, 2013 (GLOBE NEWSWIRE via COMTEX) -- Gilat Satellite Networks Ltd. GILT +8.49% (tase:GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the fourth quarter and year ended December 31, 2012.
Key Highlights:
-- Quarterly revenues of $97.4 million, compared to $93.6 million in the fourth quarter of 2011
-- Full year revenues increased to $348.4 million, up from $339.2 million in 2011
-- In the fourth quarter EBITDA increased to $10.7 million or a margin of 11%
-- Cash generated from operating activities increased significantly to $18.1 million in Q4 2012
-- Net cash over debt of $21.4 million up from $4.4 million at end of 2011
-- Operational costs decreased by $8.3 million during 2012
-- Company recorded a non-cash impairment of goodwill and other intangible assets in the amount of $31.9 million related to Wavestream
Revenues for the fourth quarter of 2012 were $97.4 million, compared to $93.6 million for the same period in 2011. Revenues for the year ended December 31, 2012 were $348.4 million, compared to $339.2 million in the year ended December 31, 2011.
On a GAAP basis, the Company had an operating loss in the fourth quarter of 2012 of $28.1 million compared to an operating loss of $15.2 million in the fourth quarter of 2011. On a GAAP basis, the Company had an operating loss for the year 2012 of $25.1 million, compared with an operating loss of $12.3 million in the prior year. The Company's GAAP operating loss was mainly affected by a non-cash impairment of goodwill and other intangible assets in the amount of $31.9 million relating to Wavestream.
On a non-GAAP basis, operating income for the fourth quarter of 2012 was $6.6 million similar to the operating income in the fourth quarter of 2011. On a non-GAAP basis, operating income for the year ended December 31, 2012 was $16.8 million compared to $17.5 million in the full year 2011.
On a non-GAAP basis, net income for the fourth quarter was $7.7 million, or $0.18 per diluted share, compared to net income of $8.4 million, or $0.20 per diluted share, in the comparable period in 2011. Non-GAAP net income for 2012 was $16.0 million or $0.37 per diluted share, compared to net income of $15.9 million, or $0.37 per diluted share, in the comparable period in 2011.
EBITDA for the fourth quarter of 2012 reached $10.7 million compared with $10.8 million in the comparable period in 2011. EBITDA for the twelve months of 2012 reached $32.1 million compared with $33.5 million in the comparable period in 2011. Cash generated from operating activities was $18.1 million in the fourth quarter of 2012.
"We are very pleased with our overall numbers for the fourth quarter as well as year-end 2012, and our prospects going forward," said Erez Antebi, Chief Executive Officer of Gilat. "This quarter was highlighted by a 9% revenue growth from the third quarter of 2012, EBITDA margin of 11% and over $18 million of cash generation from operating activities. With regards to Wavestream, we believe they will continue to grow in the future, as it has done over the last three quarters, both in revenue and profitability. However, the continuing pressure and ongoing uncertainties surrounding future spending on DoD budgets in the U.S., as well as other elements, have led us to extend our anticipated timeframe and moderate the forecasted pace of growing the Wavestream business. Therefore in accordance with ASC 350, we are taking this quarter a non-cash impairment of goodwill and other intangible assets charge related to Wavestream."
"On the commercial side of the business, we continue to see a strong rate of implementation at NBN Co. in Australia, and new orders for our Ka CPE from several European ISPs as the SES Broadband Services consumer rollout was launched in mid-December. We closed several new Defense deals in the quarter and continue to expand our position as a leader in Satellite-on-the-Move technology as exemplified by our recent wins in the avionics industry. We have also closed several significant contracts in our Services Division with new and existing customers."
Antebi concluded, "Looking forward into 2013, we will continue to focus on achieving revenue targets, increased profitability and improved cash generation. Our management objectives for 2013 are to generate revenues in the range of $350 million to $360 million with EBITDA margins of 9%, similar to what we achieved in 2012."
Key Recent Announcements:
-- Gilat's Spacenet Awarded Multi-Year Contract with One of World's Leading Delivery Service Organizations;
-- Gilat Awarded Premier VSAT Vendor for Mexican Government New Broadband Connectivity Initiative;
-- Gilat's Wavestream Wins Contract with Honeywell for In-flight Connectivity;
-- Gilat Peru Wins $9.6m Contract with Banco de la Nacion to Provide Satellite Connectivity;
-- Gilat and Huawei Partnering to Deliver Cellular Backhaul Solution to a SE Asian MNO;
-- Gilat Expands Military Customer Portfolio with Southeast Asian Navy Contract;
-- Gilat Announces the Release of the Wavestream Ku-Band Matchbox Mini BUC;
-- Gilat's Wavestream Delivering Airborne Transceivers to TECOM.
Conference Call and Webcast Details:
Gilat management will host a conference call today at 14:30 GMT/ 09:30 EST/ 16:30 IST (Israel Standard Time) to discuss the results. International participants are invited to access the call at (972) 3-918-0609, and US-based participants are invited to access the call by dialing (888) 668-9141. A replay of the conference call will be available beginning at approximately 17:00 GMT/ 12:00 EST/ 19:00 IST today, until 17:00 GMT/ 12:00 EST/ 19:00 IST February 15, 2013. International participants are invited to access the replay at (972) 3-925-5900 and US-based participants are invited to access the replay by dialing (888) 295-2634. A replay of the call may also be accessed as a webcast via Gilat's website at www.gilat.com and will be archived for 30 days.
Notes:
(1) The attached summary financial statements were prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). The attached summary financial statements are unaudited. To supplement the consolidated financial information and statements presented in accordance with GAAP, the Company presents Gilat's EBITDA before the impact of non-cash share-based payment charges, depreciation and amortization, other income and other costs related to acquisition transactions. Non-GAAP presentations of net income, EBITDA and earnings per share are provided to enhance the understanding of the Company's historical financial performance and comparability between periods.
(2) Operating income before depreciation, amortization, non-cash stock option expenses as per ASC 718 (formerly SFAS 123(R)) and other costs related to acquisition transactions ('EBITDA') is presented because it is a measure commonly used and is presented solely in order to improve the understanding of the Company's operating results and to provide further perspective on these results. EBITDA, however, should not be considered as an alternative to operating income or net income for the period as an indicator of the operating performance of the Company.
Similarly, EBITDA should not be considered as an alternative to cash flows from operating activities as a measure of liquidity. EBITDA is not a measure of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. EBITDA may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Reconciliation between the Company's Operating income and EBITDA is presented in the attached summary financial statements.
Nice market reaction, both in volume
and price!!!
Heavy accumulation in the works!
Gilat unit wins $20m network connectivity contract
Spacenet will upgrade and provide network connectivity for over 5,700 locations of a leading global delivery service organization.
12 February 13 15:37, Globes' correspondent
Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) wholly-owned US subsidiary Spacenet Inc. has won a five-year $20 million contract to upgrade and provide network connectivity for over 5,700 locations of a leading global delivery service organization. The contract has options to extend for a total of up to 14 years altogether.
Spacenet will service more than 1,900 sites with broadband connectivity and more than 3,800 sites with satellite-based VSAT technology.
Today's contract follows two contracts in India and Mexico announced by Gilat this month.
"For more than a decade, Spacenet has provided a variety of managed network services to this organization," said Spacenet president and CEO Glenn Katz.
Published by Globes [online], Israel business news - www.globes-online.com - on February 12, 2013
Spacenet Awarded Multi-Year Contract with One of the World’s Leading Delivery Service Organizations
Today : Tuesday 12 February 2013
Spacenet Inc.®, a wholly owned subsidiary of Gilat Satellite Networks Ltd. (Nasdaq: GILT), and a leading provider of managed network and data security services announced today that it has been awarded a 5-year base contract by one of the world’s leading delivery service organizations to upgrade and provide network connectivity to more than 5,700 locations. The contract, valued at over $20 million, includes an option to extend the 5-year base period of performance for three further periods of 3-years for a total potential contract period of 14 years.
The contract is part of a major initiative to reduce overall operating costs at the delivery service organization, while improving the user experience at each location. The contract includes serving more than 1,900 sites with broadband connectivity and more than 3,800 sites with satellite-based VSAT technology. “For more than a decade, Spacenet has provided a variety of managed network services to this organization”, said Spacenet President and CEO, Glenn Katz. “Our knowledge and experience with satellite-based services long enabled our client to provide high-speed connectivity at locations out of reach of terrestrial networks. Now, like many organizations having geographically disparate locations, this organization is embracing the expansion of cost-effective broadband options all across the country and has selected Spacenet as one of its vendors to achieve its goals. Our broad portfolio of network offerings, industry relationships and technology-neutral approach enables Spacenet to offer optimal solutions on a site-by-site basis.”
Spacenet began its work on the contract upon signature, and expects its client to realize benefits in cost savings and improved throughput, together with an overall long-term lower total cost of network ownership. For more information on how your organization can achieve similar benefits using Spacenet’s Managed Network Services, please visit Spacenet at www.spacenet.com, email info@spacenet.com or call 1-866-480-2263.
# # #
About Spacenet®
Since 1981, Spacenet Inc. has designed, implemented and managed some of the largest communications networks for US-based business, industrial and government customers. Spacenet has a longstanding tradition of industry leadership and innovation, and today manages communications at more than 160,000 locations for customers including many Fortune 500 companies and major government agencies.
Headquartered in McLean, Virginia, Spacenet is a wholly owned subsidiary of Gilat Satellite Networks Ltd. (Nasdaq: GILT). Visit Spacenet at http://www.spacenet.com
About Gilat Satellite Networks Ltd.
Gilat Satellite Networks Ltd (NASDAQ, TASE: GILT) is a leading provider of products and services for satellite-based broadband communications. Gilat develops and markets a wide range of high-performance satellite ground segment equipment and VSATs, with an increasing focus on the consumer and Ka-band market. In addition, Gilat enables mobile SOTM (Satellite-on-the-Move) solutions providing low-profile antennas, next generation solid-state power amplifiers and modems. Gilat also provides managed network and satellite-based services for rural telephony and Internet access via its subsidiaries in the United States, Peru and Colombia.
With over 25 years of experience, and over a million products shipped to more than 85 countries, Gilat has provided enterprises, service providers and operators with efficient and reliable satellite-based connectivity solutions, including cellular backhaul, banking, retail, e-government and rural communication networks. Gilat also enables leading defense, public security and news organizations to implement advanced, on-the-move tactical communications on board their land, air and sea fleets using Gilat's high-performance SOTM solutions. For more information, please visit us at www.gilat.com
Gilat's VSATs Selected by Bharti and Tata's Nelco for India's Ministry of Finance National ATM Initiative
Today : Thursday 7 February 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced it has been selected by Nelco Ltd., a division of the TATA Group, and Bharti Airtel Ltd., to provide secured satellite-based communications as the primary mode of connectivity for up to 30,000 ATM sites across India.
The contract is part of India's Ministry of Finance ATM initiative aimed at making financial services accessible to a greater audience across India, regardless of income, with the deployment of thousands of new ATM sites nationwide.
Under the agreement, Gilat will provide the VSATs to the selected service providers who will deploy the first 15,000 SkyEdge satellite broadband terminals in 2013, with expected growth of up to 30,000 sites by middle of 2014.
"With over 100,000 satellite terminals in operation across India today through various licensed service providers, Gilat is a veteran provider of satellite broadband communications in the country, and a leading provider of VSAT solutions for the local banking and finance industry," said Stephane Palomba, Regional VP of Asia, Gilat Satellite Networks. "Our SkyEdge solution has gained the local market's vote of confidence for offering uncontended reliability, security and cost efficiency – all of which are critical components of a robust banking infrastructure. We look forward to working with Bharti and Nelco on this high profile initiative.
Gilat's unique 'embedded Dual IPsec' functionality enables simultaneous processing over two 'end-to-end' IPsec tunnels allowing for the automatic switching of transaction data to disaster recovery sites, without any need for external equipment and without additional capital expense.
About Nelco
Nelco Ltd. (a Tata enterprise), a part of the US$83Bn Tata Group, started in 1940 as a revolutionary electronics company. It has many firsts to its name and has today reinvented itself from the ground up. Nelco has aligned its businesses and set for itself new goals. Nelco is focused on helping its enterprise and government customers unlock potential by offering solutions in the areas of Integrated Security & Surveillance, VSAT connectivity (Tatanet VSAT), Managed Services, Satcom Projects and Meteorological Solutions. For more information, please visit http://www.nelcoin.com.
About Bharti Airtel
Bharti Airtel Limited is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 4 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G wireless services and mobile commerce. Bharti Airtel had over 264 million customers across its operations at the end of October 2012. To know more please visit, www.airtel.com
Gilat Awarded Premier VSAT Vendor for Mexican Government New Broadband Connectivity Initiative
Today : Tuesday 5 February 2013
Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced it has been selected by ALEF Soluciones Integrales (ALEF), a leading provider of integrated information technology solutions, and GSAT Comunicaciones (GlobalSat), one of Mexico's largest satellite service providers, to deploy over 7,000 SkyEdge VSATs in support of the Mexican government new 'SCT 10K' service.
The 'SCT 10K' service is a Ministry of Communication and Transportation initiative to provide thousands of rural classrooms and government offices with satellite-based broadband Internet connectivity.
"Gilat and ALEF have a long standing relationship. Their faultless execution of previous projects, coupled with our familiarity of the integration capabilities and performance of the SkyEdge platform, allowed us the confidence to select Gilat as a premier vendor for this important national initiative," said Angel Ruiz, ALEF's General Manager.
Within less than four weeks of the award and in support of ALEF's aggressive deployment schedule, Gilat has delivered and installed a new hub at the GlobalSat teleport in Tijuana.
"With a strong track record in supporting numerous government initiatives of this scale worldwide, Gilat's commitment for a rapid and reliable deployment of the project was a major consideration in the award of this contract," said Eric Cataño, GlobalSat's General Manager.
As part of the project, Gilat will be deploying its SkyEdge WebEnhance VSAT, providing data rates of up to 2 Mbps. WebEnhance features upgradeable, high-capacity memory and is particularly suited for e-Education programs where broadband connectivity is required to be cost-efficiently delivered to multiple PC environments.
"Satellite-based communication is proving a fundamental part of any government initiative to promote the advancement of public access to communication," said Russell Ribeiro, Regional Vice President Latin America at Gilat. "Whether it's Internet access for rural classrooms or allowing citizens a broader range of government services, governments are looking for a solution that is both cost effective and easy to deploy. We are proud to be repeatedly selected for our ability to provide both with excellence."
About ALEF
ALEF is a leading provider of integrated information technology solutions to the Mexican market, primarily to the government sector. For more information please visit www.alefsi.com.
About GlobalSat
GlobalSat delivers advanced connectivity solutions to corporations and small businesses throughout Mexico, deploying satellite technology and on-demand services. GlobalSat´s alliances with IBM, INTELSAT, Gilat and SpaceNet have contributed to its solid growth within the Mexican telecommunications sector. For more information please visit www.globalsat.com.mx.
Gilat Peru Wins $9.6 Million Contract With Banco de la Nacion to Provide Satellite Connectivity for 320 Rural Locations and a D
Date : 01/23/2013 @ 7:18AM
Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that its subsidiary Gilat To Home Peru has been selected by Banco de la Nación, Peru's state bank, to provide satellite connectivity for 320 rural locations as well as a disaster recovery site in Chiclayo. The contract is for three years and is valued at $9.6 million.
Banco de la Nación has been a Gilat customer for over ten years. In this new project, Gilat's SkyEdge II solution, featuring the innovative WebEnhance VSAT, will be used to bring broadband connectivity to the bank's many branches. Based on Gilat's innovative CacheMode technology, WebEnhance enables a better user experience with accelerated web browsing.
Gilat will provide satellite connectivity to outlying areas, connecting remote offices with enterprise applications and allowing mobile and remote banking branches to extend ATM and online banking access to customers.
"In Peru's expanding economy, a broader access to financial services is critical for sustainable growth. The bandwidth efficiency of Gilat's SkyEdge platform coupled with the platform's ability to sustain high-speed connectivity make it an ideal solution to expand broadband connectivity to remote bank locations, supporting the bank's commitment to improve social inclusion of financial services," said Luis Saavedra Zegarra, Head of Information Systems at Banco de la Nación.
As part of the contract, Gilat will also deploy a disaster recovery site in the northern city of Chiclayo providing satellite backup to the Bank's data center located in Lima. Satellite backup is used to provide full broadband connectivity, allowing mission critical operations to continue unharmed during emergency outages when terrestrial systems fail.
"Satellite communications is essential for banks as they work to improve customer access to the sector's growing range of financial services. We are happy to continue working with Banco de la Nación in supporting such an important national initiative," said Danny Fridman, CEO of Gilat Colombia and Peru.
About Banco de la Nación Peru
Banco de La Nación's mission is to provide high quality financial solutions that add value while contributing to the decentralization and expanded coverage of services that increase social inclusion. The bank's vision is to be recognized for its excellence in quality of services, the integrity of its people and its contribution to national development. For more information please visit www.bn.com.pe.
Gilat Expands Military Customer Portfolio With Southeast Asian Navy Contract
Contract Marks the Third Military Branch in the Country to Have Selected Gilat as a Preferred Vendor for Satellite-Based Communications
PETAH TIKVA, Israel, Dec 18, 2012 (GLOBE NEWSWIRE via COMTEX) -- Gilat Satellite Networks Ltd. GILT 0.00% , a worldwide leader in satellite networking technology, solutions and services, today announced it was selected by a Southeast Asian Navy to upgrade its ground operations with IP-based satellite communications system.
As part of the contract, Gilat will deliver redundant SkyEdge II hubs, RF transmission capability and VSAT terminals that offer increased bandwidth efficiency throughout the Navy units. The increased bandwidth will allow enhanced connectivity to the Internet, video and other high-speed, broadband services while also enabling strategic military communications on board the Navy's mobile vehicles.
Gilat already supplies satellite communication solutions to the country's Air Force and Central Command.
"Gilat's SkyEdge II solution was selected for its advanced bandwidth utilization capabilities, a crucial commodity for any navy operating on limited and restrictive allocation of bandwidth resources," said Stephane Palomba, Regional VP for Asia, Gilat. "The IP-based terminals will reduce expensive dial-up lease costs while equipping the Navy with affordable and highly efficient access to a broader range of communication applications enhancing their operational readiness."
Gilat is a veteran supplier of maritime and ground satellite based communication systems for military organizations around the globe. Its SkyEdge II system is designed and optimized for broadband communications via satellite supporting data, VoIP and video applications - an excellent solution for broadband IP networks with high-speed inbound requirements.
~ Wednesday! $GILT ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $GILT ~ Earnings expected on Wednesday *
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One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
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GILT News - Gilat to Receive Over $24 Million in Proceeds From the Sale of Its Shares in the Merger of Ingenix and Axolotl
PETAH TIKVA, Israel, Aug. 17, 2010 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq:GILT) today announced that it is to receive more than $24 million in cash proceeds from the merger of Ingenix and Axolotl. Ingenix, a leading health information technology and services company announced on August 16, 2010 that it is acquiring Axolotl, a leading provider of health information exchange services. As part of Gilat's investment policy, Gilat invested approximately $4.5 million in Axolotl over 10 years ago. During the global economic downturn of 2000 and 2001, Gilat wrote off this investment.
Under the terms of the merger agreement, Gilat is to receive approximately $24 million immediately and subject to certain standard escrow conditions, may receive an additional $3 million in one year.
Spacenet Rural Communications Deploys Gilat's SkyEdge II High-Performance Broadband Satellite Network to Serve Banco De La Nacion and Other Customers in Peru
Thursday March 26, 2009, 9:05 am EDT
Buzz up! Print Related:Gilat Satellite Networks Ltd.
PETAH TIKVA, Israel, March 26, 2009 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NasdaqGM:GILT - News) today announced that its business unit, Spacenet Rural Communications, is deploying a SkyEdge II network to cover hundreds of sites in Peru. The new network is being used to serve Peru's national bank, Banco de la Nacion, a long time customer of Gilat, as well as other private businesses.
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GILT 3.58 +0.07
With the migration to the new network, which includes a SkyEdge II hub and hundreds of SkyEdge II IP VSATs, Peru's Banco de la Nacion, as well as other enterprise customers, will benefit from enhanced voice and data networking services. This includes high-speed connectivity to allow high throughput for file transfer, transactional service applications such as ATMs and voice quality IP telephony. The new network provides Banco de la Nacion with a high availability solution including VSAT redundancy, in addition to providing excellent Quality of Service (QoS) for mission-critical applications.
SkyEdge II is an excellent solution for the banking and corporate sectors. With its high efficiency and full adaptivity, SkyEdge II gets the most out of the satellite link while providing a high-performance solution to customers.
``SkyEdge II provides us the competitive advantage we need to best serve the complex requirements of our customers,' said Arieh Rohrstock, General Manager, Spacenet Rural Peru. ``We are already benefiting from the platform's high efficiency which is contributing to space segment savings. With increasing space segment prices and lack of available capacity, we intend to upgrade hundreds of more internet and data sites to the SkyEdge II platform, allowing us to continue growing with internet services while reducing bandwidth consumption.'
SkyEdge II is a standards-based system using DVB-S2 and DVB-RCS. With better efficiencies and full adaptivity for both the inbound and outbound channels, it provides higher performance that serves the growing requirements of end-users. SkyEdge II enables the delivery of high-quality voice, broadband data and video services for diverse environments including enterprises, rural networks, cellular backhaul and government network applications.
SkyEdge II adds new capabilities to Gilat's industry-leading SkyEdge family of VSAT products. Gilat's SkyEdge portfolio enables the delivery of high-quality voice, broadband data and video services. SkyEdge represents Gilat's extensive knowledge base and field-proven product offering, acquired through two decades of experience. SkyEdge's flexible architecture and efficient space segment utilization make it an ideal platform for operators and service providers. With Gilat's comprehensive SkyEdge portfolio, service providers can choose the most suitable product for their application needs.
NeraTel Selects Gilat SkyEdge II Broadband Satellite Network to Serve a Government Organization in Southeast Asia
SkyEdge II Network to Incorporate Newly Introduced Mesh Capabilities
Wednesday March 25, 2009, 9:37 am EDT
Buzz up! Print Related:Gilat Satellite Networks Ltd.
PETAH TIKVA, Israel, March 25, 2009 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NasdaqGM:GILT - News) today announced that it has been chosen by Nera Telecommunications Ltd (``NeraTel'), a premier solutions provider for Transmission, Satellite Communications and Infocommunications, to provide a SkyEdge II network that will be used to serve a government organization in Southeast Asia.
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GILT 3.58 +0.07
The new network based on Gilat's SkyEdge II Access and Pro VSATs, will be deployed as part of NeraTel's comprehensive communications system, to provide high-performance and advanced communications that meet the requirements of NeraTel's customer. The network carries end-to-end MPLS data. This includes converged services such as broadband IP, voice, video and multicasting.
Gilat's SkyEdge II Pro is the latest addition to the SkyEdge II family. SkyEdge II Pro is a carrier-grade, modular VSAT, enabling extremely fast throughput for rapid access to the Web, VoIP, corporate connectivity and multimedia applications. The new VSAT is an excellent solution for corporate and government customers.
Gilat's SkyEdge II platform ensures efficient use of bandwidth, with full adaptivity for both the inbound and outbound channels. The platform's high efficiency is further enhanced by its newly launched mesh capability, enabling direct connections to be set up between two VSATs where communication traverses the satellite only once in each direction.
``The delivery of the total communication system to the government organization is one of the major breakthroughs for the NeraTel Group and this has strengthened our market position in the government market sector,' said Dr Tan Hong Pew, Executive Vice President for Satellite Communications, Nera Telecommunications Ltd. ``We are pleased to have partnered with Gilat in providing a competitive solution which reduces space segment utilization and at the same time provides excellent availability.'
``We are pleased to have collaborated with NeraTel in meeting the communication needs of its customer,' said N. Ranganathan, Gilat Network System's RVP, Asia. ``We are certain that NeraTel's customer will benefit from SkyEdge II's high performance, enjoying an array of advanced applications and services on a reliable and secure platform. The system's modular design allows add-on modules as required for mesh, embedded voice ports and other future technologies.'
SkyEdge II is a multi-service platform enabling the delivery of high-quality voice, broadband data and video services for diverse environments including enterprises, rural networks, cellular backhaul and government network applications. SkyEdge II is a standards-based system using DVB-S2 and DVB-RCS. With better efficiencies and full adaptivity for both the inbound and outbound channels, it provides higher performance that serves the growing requirements of end-users. Gilat's diverse portfolio of SkyEdge II VSATs are all supported by a unified platform, offering service providers the most suitable product for their application needs as well as the flexibility to evolve their networks.
Netcom Africa Selects Gilat SkyEdge II Broadband Satellite Network to Serve West Africa's Corporate Sector
Tuesday March 24, 2009, 9:30 am EDT
Buzz up! Print Related:Gilat Satellite Networks Ltd.
PETAH TIKVA, Israel, March 24, 2009 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NasdaqGM:GILT - News) today announced that it has been chosen by Netcom Africa Limited to provide a SkyEdge II network that will serve West Africa's corporate, energy and financial sectors. Based in Nigeria, Netcom is a leading communication infrastructure provider for satellite and wireless broadband solutions.
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Symbol Price Change
GILT 3.58 +0.07
Netcom chose Gilat's SkyEdge II network to provide VoIP and high-speed data networking services. Gilat's SkyEdge II is well-suited to meet the requirements of the corporate and banking industry while providing secure connectivity. Other benefits include the delivery of voice quality telephony, advanced Quality of Service (QoS) to prioritize application data traffic, and unified networks for multiple bank branches.
``We determined that Gilat's SkyEdge II provides the highest space segment savings, while at the same time enabling us to provide a high-performance, reliable solution to our customers,' said Yen Choi, Netcom's Group Executive Vice President and CTO. ``Gilat's ability to anticipate and meet our requirements is the foundation of what we expect will be a successful, long-term business relationship.'
Nir Korman, Gilat's regional vice president, Africa, said, ``We are pleased to have been chosen by Netcom to provide a SkyEdge II broadband satellite network. SkyEdge II is an excellent solution for the corporate and banking sectors, fully meeting their strict requirements.'
SkyEdge II is a standards-based system using DVB-S2 and DVB-RCS. With better efficiencies and full adaptivity for both the inbound and outbound channels, it provides higher performance that serves the growing requirements of end-users. SkyEdge II enables the delivery of high-quality voice, broadband data and video services for diverse environments including enterprises, rural networks, cellular backhaul and government network applications.
About Netcom Africa
Netcom Africa is a leading telecommunication services supplier in West Africa. Netcom Africa provides ``best of breed' solutions to telecommunication carriers, GSM / CDMA operators, ISPs, multinationals, banks, oil & gas and government.
Netcom Africa provides clients with a unique solution utilizing its infrastructure of satellite, fiber and microwave technologies. With multiple VSAT hubs globally and direct submarine capacity through geographically diverse routes, Netcom Africa's redundant network is peered with multiple tier one network providers in the USA and UK. Netcom Africa maintains thousands of circuits across multiple satellites including Intelsat and SES.
Netcom Africa is an ISO9001:2000 registered company with the British Standards Institute (BSI) and the first company in Africa to achieve a TL9000 certification demonstrating a strong commitment to deliver mission critical services. Netcom Africa has been awarded ``Best VSAT Company of the Year', ``Best ISP of the Year' and ``Best Broadband Company of the Year' from IT Telecom & Digest and the Nigerian IT & Telecom's award for 3 years.
Spacenet Satellite & Hybrid Network Supports Retail Applications & Bus. Continuity at 500 Cumberland Farms Stores & Gas Stations
Date : 03/03/2009 @ 9:00AM
Source : Business Wire
Stock : Spacenet Inc. (GILT)
Quote : 3.58 0.07 (1.99%) @ 4:41PM
Spacenet Satellite & Hybrid Network Supports Retail Applications & Bus. Continuity at 500 Cumberland Farms Stores & Gas Stations
Spacenet Inc., a wholly owned subsidiary of Gilat Satellite Networks Ltd. (Nasdaq:GILT) and one of the world’s leading providers of satellite networking solutions, announced today that it has signed a contract to provide an upgraded data network to approximately 500 Cumberland Farms locations across the United States. The new network combines common carrier and satellite technologies to support advanced applications and ensure business continuity.
Spacenet is deploying an innovative hybrid VSAT and DSL/Cable/EV-DO network that provides optimized support for Cumberland Farms’ expanding retail applications. Satellite networks combined with wireline services provide cost-effective redundant communications and a diverse network path to protect against network downtime. Spacenet is upgrading Cumberland Farms’ existing VSAT network to the industry-leading SkyEdge VSAT platform for faster speeds and advanced functionality. The network supports improved performance for web-based and back-office applications including credit/debit card authorization, POS polling, HR software and inventory tracking.
“Cumberland Farms is committed to providing our customers value, convenience and unparalleled service through our network of retail stores, gas stations, and distribution operations,” said Cumberland Farms VP of Information Technology John Carroll. “Having a reliable and efficient network infrastructure is critical for enabling us to achieve these goals. The upgraded satellite and hybrid network provides a simplified single platform solution, faster speeds for web-based applications, automatic and reliable network backup, and near 99.9% network availability, ultimately helping us better serve our customers at each location.”
“We’re very excited to work with Cumberland Farms for their extended business relationship and their critical communications network,” said Spacenet President and COO Glenn Katz. “An increasing number of our customers are utilizing satellite and hybrid networks to provide a more simplified solution for supporting expanding business applications and network backup. We are confident that this solution is an ideal match for Cumberland Farms and will help them meet their network requirements and customer service objectives.”
About Cumberland Farms
Cumberland Farms is committed to providing its customers with value, convenience and unparalleled service. Its network of retail stores, gas stations, and a support system including petroleum, dairy and grocery distribution operations spans 11 states across the Northeast and Florida, making it the largest convenience store/ petroleum marketer in the Northeast. Visit Cumberland Farms at www.cumberlandfarms.com/.
About Spacenet
Founded in 1981, Spacenet Inc. is one of the world’s leading providers of high-performance satellite and hybrid terrestrial networking solutions for US based enterprise, government and small office/small business customers. Spacenet has a longstanding tradition of industry leadership and innovation, and today has more than 100,000 operational network endpoints for customers including many Fortune 500 companies and major government agencies. Spacenet’s services include its custom satellite and hybrid network solutions for enterprise and government; Connexstar™ VSAT services for primary, backup and disaster recovery networks; and StarBand® broadband Internet by satellite. Spacenet is based in McLean, Virginia, and operates its own end-to-end services infrastructure including network management, field services and teleport facilities in McLean, Virginia; Atlanta, Georgia; and Chicago, Illinois. Spacenet is a wholly owned subsidiary of Gilat Satellite Networks Ltd. (Nasdaq:GILT). Visit Spacenet at www.spacenet.com.
BRIEF-Gilat signs new agreements with Colombian Ministry Of Communications (Gilat Satellite Networks)
Date : 12/31/2008 @ 7:23AM
Source : TFN
Stock : Gilat Satellite Networks (GILT)
Quote : 2.61 0.0 (0.00%) @ 12:22AM
BRIEF-Gilat signs new agreements with Colombian Ministry Of Communications (Gilat Satellite Networks)
Dec 31 (Reuters) - Gilat Satellite Networks Ltd:
* Announces the signing of new agreements with Colombian Ministry Of
Communications
* Says terms include release of about $24 million from trust accounts,
release
by each of parties from all prior claims under previous agreements
* Says expects most of the amount in trusts will be released during 2009,
with
remaining amount to be released in 2010
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223
8780))
(For more news, please click here)
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The copying, republication or redistribution of Reuters News Content, including
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High Point: 12/04/2008 6:03AM EDGAR (6-K) - Report of Foreign Issuer
With respect to Spacenet Rural: As a reminder, Spacenet Rural is comprised of operations in Peru and in Colombia predominantly for the public or government sector. While the Peruvian operation has continuous positive financial results, the situation in Colombia is more challenging.
Since the third quarter of 2007, we have informed you that we were re-negotiating with the Colombian Government certain terms of the contracts relating to its networks, including the operational indicators criteria in a manner that better reflects the economic and social conditions in the areas in which service is provided.
These negotiations were finally completed on September 25, 2008 and the parties were to have signed agreements immediately, enabling the release of the restricted cash to the Company over time. Despite the readiness of the agreement for signature, FONADE, the government entity which serves as project manager of these projects and was part of the negotiations, has surprisingly resisted signing the agreements claiming their desire to make new and significant modifications to the negotiated documents. This position is contrary to that of the office of the Ministry of Communications.
Finally, FONADE suggested that the agreements be signed solely by the Ministry of Communications. The Ministry of Communications is now also avoiding contract signature due to the pressures this office faces by signing alone. Unfortunately, the last two months have been spent on this internal debate between the government entities, and not in any productive resolution of the matter with Gilat. Even the involvement of the office of the President of Colombia, has not put an end to this saga.
As you know from our many conference calls in which we have mentioned ongoing negotiations, we feel that we have exercised a tremendous amount of restraint and understanding in working with the Colombian government to reach an agreement that will enable the release of the restricted cash while improving the networks in a manner that serves the public better and addresses the current needs in Colombia. At this point, after many months of being told the agreements would be fairly negotiated and signed, we can no longer be confident that there will be an amicable resolution to the matter at hand.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
If we were to terminate the agreements in Colombia – and I stress here that a decision on this has not yet been taken – we assume at present that our restricted cash of approximately $24 million would be offset with the liabilities we have for the same amount of advances from customers held by trustees. While we would take all necessary legal actions to claim our rights and release the restricted cash due to us for services rendered, we would also need to take into account that this would likely be a lengthy legal battle. In that respect, if we were to shut down services or otherwise terminate for cause, we also consider that the government could decide to declare termination for cause and then demand payment of approximately $27 million of performance bonds, in Colombian Pesos, provided by insurance companies on our behalf. We have provided corporate guarantees to the insurance companies guaranteeing payments made by them on our behalf and while we would defend against any such claims, we could potentially be exposed for any amounts paid by the insurance companies to the Colombian government, despite the defenses that we would raise.
As you well know, we have spent lots of efforts in an attempt to resolve the situation in Colombia since the issue arose over a year ago. The political dysfunction of the Ministry and FONADE that has arisen after they sat for months and negotiated with us is an unexpected development. We will continue to keep our shareholders informed on this matter
Before I turn the speaker to Ari, I wish to say that overall, our business remains steady and the Company is in a strong financial position. We leverage a strong balance sheet carrying a sizeable amount of cash with relatively little debt that can support us even if business slows down due to economic hardships and may open for us interesting acquisition opportunities going forward.
Increase of 30mil a/s from 60mil to 90mil
11/28/2008 6:10AM EDGAR (6-K) - Report of Foreign Issuer
VII.
APPROVAL OF AN INCREASE IN THE AUTHORIZED SHARE CAPITAL OF THE COMPANY
Our authorized share capital is currently NIS 12 million, and is comprised of 60,000,000 ordinary shares, par value NIS 0.20 per share, out of which 40,048,591 ordinary shares were issued and outstanding as of October 31, 2008 and 4,599,145 shares were underlying outstanding options and convertible bonds as of October 31, 2008.
Our board of directors recommends that shareholders approve an increase of the authorized share capital of the Company in the amount of NIS 6 million, par value of NIS 0.20 per share to be divided into 30,000,000 ordinary shares, and to authorize the board of directors to implement such increase. Following this increase, if approved by the shareholders at the Meeting and unless otherwise determined by the Board, the total authorized capital of the Company will be NIS 18,000,000, divided into 90,000,000 ordinary shares, par value NIS 0.20 per share.
Our board of directors believes that the approval of the proposal is in the best interests of the Company. Specifically, the increase will ensure that the Company has sufficient authorized shares available for raising capital, issuance in connection with mergers and acquisitions and the adoption of additional stock incentive plans, if the Company decides to do so in the near future.
Israeli law and our articles of association require the affirmative vote or our shareholders to effect an increase in the authorized share capital of the Company.
PROPOSAL No. 7
At the Meeting, the board of directors will propose that the following Ordinary Resolution be adopted:
“ RESOLVED , to increase the authorized share capital of the Company to NIS 18 million and the number of authorized ordinary shares of the Company to 90,000,000 shares, NIS 0.20 par value per share.”.
“RESOLVED FURTHER , to replace Article 4(a) of the Company’s Articles of Association such that Article 4(a) shall read as follows:
“The authorized share capital of the Company is NIS 18,000,000 divided into 90,000,000 (eighty million) ordinary shares, par value NIS 0.20 per share.”
Spacenet’s Connexstar Services Gain Expanded Presence in the Emergency Response Market
Date : 11/24/2008 @ 9:00AM
Source : Business Wire
Stock : Spacenet Inc. (GILT)
Quote : 2.61 0.0 (0.00%) @ 11:54PM
Spacenet’s Connexstar Services Gain Expanded Presence in the Emergency Response Market
Spacenet Inc., one of the world’s leading providers of satellite networking solutions, announced that its Channel Partner Orbital Data Net (ODN) recently deployed Spacenet’s high-performance Connexstar satellite services in support of emergency networks for government agencies to help bring vital communications online during severe weather conditions. The services enable rapid deployment of completely converged communications to support voice, video and broadband data via satellite for emergency response teams.
ODN, a leading satellite network integrator and emergency services solutions provider, deployed an emergency satellite communications network for the Louisiana Department of Public Safety to support critical operations during and after back-to-back hurricanes Gustav and Ike. Spacenet’s industry leading Connexstar services, deployed by ODN, provided support for the State's VPN connections and Voice over IP emergency telephones. The network connected the Department of Public Safety in Baton Rouge to Highway Patrol Trooper Headquarters located at sites across the affected zones. The satellite systems proved to be extremely reliable, enduring winds in excess of 100 miles per hour for sustained periods of time.
ODN also deployed an advanced emergency management network in Missouri to help government agencies and community organizations resume data and voice communications during the aftermath of severe flooding. With damaged terrestrial networks and with cellular towers down, the Missouri Department of Transportation (MoDOT) provided a transportable and rapidly deployable satellite network to The State Emergency Management Agency (SEMA). The emergency communications network, based on Spacenet’s industry leading Connexstar Performance service and implemented by ODN, provided support for Voice over IP (VoIP), radio backhaul, and VPN Internet access.
MoDOT Traffic Division Communications Coordinator John Diggs said, "Spacenet’s satellite services combined with ODN’s Emergency Satellite Network provided the mission-critical communications support that we needed during our flood recovery efforts. Unlike previous alternative satellite systems that we used which proved to be unreliable, the solution provided by Spacenet and ODN met all of our requirements and was designed specifically for the unique needs of emergency responders.” Spacenet President and COO Glenn Katz said, “Reliable communications are a critical component of emergency response efforts during the aftermath of any natural or man-made disaster. Spacenet’s satellite services provide the needed communications services that help meet emergency recovery efforts. We are pleased that integration partners like ODN have chosen Spacenet’s services to provide a dependable communications solution for their customers.” About Orbital Data Net, Inc.
With decades of experience in satellite, Orbital Data Net (ODN), formerly Heifner Communications is a leading provider of fixed and mobile emergency satellite communication systems. ODN can be contacted at (573)445-8101 or visit http://www.orbitaldata.net/.
About Spacenet® Founded in 1981, Spacenet Inc. is one of the world’s leading providers of high-performance satellite and hybrid terrestrial networking solutions for US based enterprise, government and small office/small business customers. Spacenet has a longstanding tradition of industry leadership and innovation, and today has more than 100,000 operational network endpoints for customers including many Fortune 500 companies and major government agencies. Spacenet's services include its custom satellite and hybrid network solutions for enterprise and government; Connexstar™ VSAT services for primary, backup and disaster recovery networks; and StarBand® broadband Internet by satellite. Spacenet is based in McLean, Virginia, and operates its own end-to-end services infrastructure including network management, field services and teleport facilities in McLean, VA; Atlanta, Georgia; and Chicago, Illinois. Spacenet is a wholly owned subsidiary of Gilat Satellite Networks Ltd. (Nasdaq:GILT). Visit Spacenet at www.spacenet.com.
Short Interest - Short History:
Jul 31, 2008 632,790 -0.69 87,632 7.22 No No
Jul 15, 2008 637,189 8.78 159,783 3.99 No No
Jun 30, 2008 585,741 8.63 161,947 3.62 No No
Jun 13, 2008 539,205 5.07 140,433 3.84 No No
May 30, 2008 513,167 -11.99 227,976 2.25 No No
May 15, 2008 583,109 -9.92 198,853 2.93 No No
Apr 30, 2008 647,298 27.30 177,702 3.64 No No
Apr 15, 2008 508,477 70.37 353,596 1.44 No No
Mar 31, 2008 298,447 -28.04 290,286 1.03 No No
Mar 14, 2008 414,722 -5.46 179,313 2.31 No No
9/10/08:
Last Sale 7.55 Change -0.05
% Change -0.657892 Tick Down
Daily High 7.76 Daily Low 7.55
Opening Price 7.60 Volume 256,615
52 wk. High 11.34 52 wk. Low 7.45
Prev Close 7.60 Dividend 0.00
Yield 0.00 Beta Coefficient 0.83
Earnings/Share 0.12 P/E Ratio 62.9167
Recent News:
Sep 09, 2008 (M2 EQUITYBITES via COMTEX) -- Gilat Satellite Networks Ltd (Nasdaq:GILT), a provider of products and services for satellite-based communications networks, announced on Monday (8 September) that the company has completed the deployment of a SkyEdge broadband satellite network for Administradora de Redes (Aduanett) based in Honduras.
Gilat's SkyEdge is a satellite communications system that delivers voice, broadband data and video services over a powerful unified system.
Administradora de Redes will reportedly use the VSAT network to provide customs offices and other Honduran businesses with private networking services including interactive data, broadband Internet access, and Voice over Internet Protocol (VoIP).
Financial details of the deployment were not available.
I guess we'll have to wait and see.
I have the feeling a compromise settlement
is to take place
wonder how hard it will be to get the 47 mil
Gilat ends deal with private-equity group
By Michelle Donley
Last update: 10:07 a.m. EDT Aug. 29, 2008
NEW YORK (MarketWatch) -- Gilat Satellite Networks Ltd. Said Friday that it terminated its deal with a private-equity buyout consortium. The Petach Tikva, Israel-based provider of satellite-based communications services cited the buyer's "intentional breach of the merger agreement" and its failure to close the deal before the extended deadline. Gilat said it received several different verbal offers from the buyers, none of which was accepted. The purchasing group includes Los Angeles private-equity firm Gores Group LLC; Israeli investment firm Mivtach Shamir Holdings Ltd.; companies affiliated with the investors Roy Ben-Yami, Ami Lustig and Eytan Stibbe; and DGB Investments Inc., a San Jose, Calif., firm affiliated with the investor Douglas Bergeron. Under terms of the deal, Gilat said it's entitled to a cash termination fee of $47.3 million "in the event of an intentional breach of the agreement by the purchasers." The company said Monday that the buyout group balked at the agreed-on price of $11.40 a share, as Gilat's stock had since declined. Shares traded early Friday at $7.71
I notice that you are still around on I-hub.
I was wondering if you are watching this week's fiasco RE;
the merger falling apart at the last minute?
I'm thinking eigther merger at the last at higher than 8.00 or---they get 47 mil ---eigther way might end up $10.00 or so short term. Would love an opinion from someone who knows the company better than I.
Gilat Provides Satellite Backhaul Solution to Latin America's Largest Mobile Network Operator, Vivo
Last update: 8:44 a.m. EST Dec. 18,
PETAH TIKVA, Israel, Dec 18, 2007 (BUSINESS WIRE) -- Gilat Satellite Networks Ltd. (GILT:GILT GILT,) today announced that it has successfully completed the first phase of a turnkey satellite network solution for Vivo, a customer of Telecomunicacoes de Sao Paulo (Telesp). Telesp is the largest subsidiary of Brazil's Telefonica Group and Vivo is Latin America's largest mobile network operator.
Vivo recently deployed a major GSM network and Telesp is using Gilat's SkyAbis technology to provide cost-effective backhaul and trunking (DCME) to remote Vivo sites in the north, northeast and central west of Brazil. As part of the turnkey satellite network, Gilat provided a fully redundant SkyAbis GSM solution to meet Vivo's high reliability requirements. SkyAbis features traffic optimization and dynamic bandwidth allocation enabling low cost of ownership for mobile network operators.
Russell Ribeiro, Gilat do Brasil general manager, said, "Our agreement with Telesp demonstrates our expertise in providing full turnkey networks. Telesp chose Gilat in 2006 to meet its Universal Service Obligation (USO) and we are proud to continue this relationship with the first phase of the Vivo project with other phases to follow."
Mr. Ribeiro added, "Using the Telesp SkyAbis satellite network, Vivo will be able to provide cellular service to the remote regions of Brazil in a most competitive way."
Gilat's SkyAbis is an integral part of the SkyEdge multi-service platform that delivers high quality voice, broadband data and video services over a powerful unified system. The platform represents Gilat's extensive knowledge base and field-proven product offering, acquired through two decades of experience. SkyEdge's flexible architecture and efficient space segment utilization make it an ideal platform for operators and service providers.
http://biz.yahoo.com/bw/071218/20071218005628.html?.v=1
Mivtach Shamir may have Lehman aid in Gilat bid
Gilat has reportedly received other offers, although Mivtach Shamir's offer is the only officially announced one.
Shiri Habib 17 Dec 07 13:46
Mivtach Shamir Holdings Ltd. (TASE:MISH) reportedly has obtained the backing of Lehman Brothers Holdings Inc. (NYSE:LEH) for its bid to acquire Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT). Mivtach Shamir, which owns 5.7% of the company offered Gilat $10 per share in May, and has apparently since upped the offer. This is the only official bid that Gilat has received to date.
Gilat's board of directors will soon have to decide what to do about the offer.
Mivtach Shamir apparently realized that Gilat would reject its offer of $10 per share. Gilat shareholders might also reject an offer of $11 or $11.50 per share, a premium of 6-11% on the company's current share price on Nasdaq. Gilat largest shareholder is York Capital Management LLC, with a 21% stake.
Gilat develops, manufactures, and sells very small aperture terminals (VSAT) for satellite communications systems, and also provides related services. The company has a market cap of $410 million.
In October, the "Financial Times" reported that private equity firms Apollo Management LP and Gores Group LLC, and US competitor ViaSat Inc. (Nasdaq:VSAT) have made offers for Gilat. Apollo Management controls Gilat rival Hughes Communications Inc. (Nasdaq:HUGH).
Lehman Brothers said that it had "no response" to the report. Mivtach Shamir chairman and CEO Meir Shamir was not available by web-posting. York declined to comment.
Published by Globes [online], Israel business news - www.globes-online.com - on December 17, 2007
Australia's Optus Selects Gilat for Broadband Satellite Network Expansion
Tuesday December 11, 7:52 am ET
- New SkyEdge Hubs and Thousands of VSATs to be Deployed by Optus for Broadband Services Throughout Australia -
PETAH TIKVA, Israel--(BUSINESS WIRE)--Gilat Satellite Networks Ltd. (Nasdaq:GILT - News) today announced that Optus, an Australian leader in integrated communications is expanding its network with two additional SkyEdge satellite hub stations and thousands of VSATs. SkyEdge VSAT technology will provide cost-effective connectivity to regions in Australia which otherwise would not be able to benefit from broadband Internet services.
The SkyEdge platform can serve tens of thousands of subscribers, providing high-speed IP connectivity with excellent space segment efficiency. Advanced features such as embedded Internet acceleration enables Optus to provide the user experience subscribers demand at a cost they can afford.
Optus deployed one of the first SkyEdge networks and has since expanded it several times. With this latest expansion, Optus will operate one of the world's largest Gilat satellite hub installations comprising more than 20,000 Gilat VSATs to serve a wide range of corporate, government and residential customers.
Paul Sheridan, Head of Optus Satellite said Optus is pleased to be working with Gilat to meet the challenges of building a scalable network infrastructure that supports the Australian Government's broadband scheme.
“Optus is an experienced Australian satellite operator with a successful track record in delivering broadband services to customers throughout rural, regional and remote Australia who rely on satellite for their communication services. Optus has been recognized again by the Australian Government through its approval to participate in the Australian Broadband Guarantee (ABG) program,” Mr. Sheridan said.
Optus’ expansion of its SkyEdge network will support the Australian government’s ABG program, which provides registered Internet Service Providers with incentive payments to supply higher-bandwidth services to regional, rural and remote areas. During the past few years, Gilat's SkyEdge systems have been deployed by Optus to operate earlier government telecom programs -- Broadband Connect and HiBIS. Through a variety of technologies, these previous programs enabled more than 200,000 homes and businesses overall to receive a subsidized high-quality broadband service as well as allowing an additional one million premises to gain access to broadband services.
“This latest expansion by Optus demonstrates Gilat’s commitment to providing high quality VSAT networks and meeting the requirements of leading telecom operators," said Erez Antebi, CEO of Gilat Network Systems. "We look forward to continuing our strong support of Optus and its important contribution to improving the quality of life for Australians by providing broadband service availability to citizens regardless of where they live.”
Gilat’s SkyEdge is a satellite communications system that delivers high-quality voice, broadband data and video services over a powerful unified system. SkyEdge represents Gilat’s extensive knowledge base and field-proven product offering, acquired through two decades of experience. SkyEdge’s flexible architecture and efficient space segment utilization make it an ideal platform for operators and service providers.
About Optus
Optus is an Australian leader in integrated communications. The Company provides a broad range of communications services including mobile, national and long distance services, local telephony, international telephony, business network services, Internet and satellite services and subscription television. Further information about the services Optus offers and customer eligibility is available at www.optus.com.au.
http://biz.yahoo.com/bw/071211/20071211005563.html?.v=1
Gilat Expands Its SkyEdge Portfolio With the Introduction of SkyEdge II - a New High Performance VSAT Satellite Communications Platform Based on DVB-S2 and DVB-RCS
Monday November 12, 7:45 am ET
-- First Systems Already Sold to Service Providers in Asia, Europe, Latin America and Africa --
PETAH TIKVA, Israel--(BUSINESS WIRE)--Gilat Satellite Networks Ltd. (Nasdaq:GILT - News) today announced the availability of SkyEdge II, an advanced VSAT platform based on next generation technology, with higher efficiencies and full adaptivity for both the inbound and outbound channels.
Designed for diverse environments including enterprises, rural networks, cellular backhaul and government network applications, Gilat's SkyEdge II is an excellent solution for broadband IP networks with high-speed inbound requirements, providing inbound data rates of up to 4Mbps. A flexible and scalable platform, SkyEdge II can support small networks that require as little as 500 KHz, as well as large capacities of more than 135Mbps per outbound chain. SkyEdge II is a standards-based system using DVB-S2 and DVB-RCS.
SkyEdge II highlights:
SkyEdge II provides a minimal total cost of ownership for both Capex and Opex through several distinct benefits:
High efficiency with up to 32APSK outbound modulation and 8PSK inbound modulation, reducing space segment costs
Full modulation / coding adaptivity for both outbound and inbound channels at multiple levels
Scalability from small networks numbering tens of VSATs and small initial space segment requirement starting from 500 KHz to very large networks and a fully saturated transponder.
Standards-based – DVB S2- ACM outbound and DVB-RCS inbound
Based on SkyEdge unified platform architecture supporting multiple services and VSAT types on the same hub
Designed for reliability and high MTBF, based on Gilat’s extensive experience in deployments in rural and harsh environments
High performance VSAT platform:
High throughputs will provide over 4Mbps of inbound traffic per VSAT
High capacity supporting up to 32,000 VSATs and over 135Mbps per outbound chain
Multiple transponders and satellite support
Embedded TCP and HTTP acceleration greatly enhancing user experience
“SkyEdge II represents the design innovation that customers have come to expect from Gilat. With its high efficiency and use of both industry standards DVB-S2 and DVB-RCS, SkyEdge II creates new opportunities for the Company. Its fully adaptive implementation for both the inbound and outbound can result in bandwidth savings of more than 50 percent compared to previous standards,” said Erez Antebi, CEO of Gilat Network Systems, a business unit of Gilat Satellite Networks. "Customers who have chosen SkyEdge II recognize the system's potential to provide lower operational expenses. They also understand how utilization of industry standards can optimize their total cost of ownership,” he added.
SkyEdge II adds new capabilities to Gilat's industry-leading SkyEdge family of VSAT products. With Gilat's comprehensive SkyEdge portfolio, which also includes the industry's only certified integrated platform interoperable with Cisco's VSAT, service providers can choose the most suitable product for their application needs.
Gilat has already received its first orders for SkyEdge II from leading service providers in Asia, Europe, Latin America and Africa.
http://biz.yahoo.com/bw/071112/20071112005650.html?.v=1
Gilat Announces Strong Q3 Results: Revenues Reached $71.5 Million; Net Income Totaled $5.9 Million
Tuesday November 13, 7:22 am ET
PETAH TIKVA, Israel--(BUSINESS WIRE)--Gilat Satellite Networks Ltd. (Nasdaq:GILT - News), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the third quarter ending September 30, 2007.
Revenues for the third quarter of 2007 were $71.5 million, up from $63.8 million in the same period of 2006. Net income for the third quarter of 2007 was $5.9 million or $0.14 per diluted share, compared to a net income of $2.7 million or $0.11 per diluted share in the third quarter of 2006. Non-GAAP net income (1) for the third quarter of 2007 was $6.1 million, or $0.15 per diluted share, versus a net income of $3.5 million or $0.13 per diluted share in the same quarter of 2006.
Revenues for the nine month period ended September 30, 2007 were $209.9 million, up from $183.4 million in the comparable period of 2006. Net income for the nine month period ended September 30, 2007 was $16.3 million or $0.39 per diluted share, compared to a net income of $6 million or $0.25 per diluted share in the same period of 2006. Non-GAAP net income for the nine month period ended September 30, 2007 was $17.4 million, or $0.42 per diluted share, versus a net income of $9.2 million or $0.37 per diluted share in the comparable period of 2006.
Gilat’s Chief Executive Officer and Chairman of the Board Amiram Levinberg said, "During the third quarter we continued to experience strong growth in revenues and profits with revenues increasing by 12% year over year. The quarter was highlighted by enhanced activity in the government sector -- one of our major areas of focus."
"We just announced the availability of our new flagship product, SkyEdge II, an advanced VSAT platform based on next generation technology, with higher efficiencies and full adaptivity for both the inbound and outbound channels. Designed for diverse environments including enterprises, rural networks, cellular backhaul and government network applications, Gilat's SkyEdge II is an excellent solution for broadband IP networks with high-speed inbound requirements, providing inbound data rates of up to 4Mbps. We have already received first orders for SkyEdge II from leading service providers in Asia, Europe, Latin America and Africa."
Recent Announcements
The availability of SkyEdge II, an advanced VSAT platform based on next generation technology, with higher efficiencies and full adaptivity for both the inbound and outbound channels.
Spacenet Inc. expands its presence in the government market through contracts with new government customers and the recent award of a five-year GSA Schedule Contract.
North-West Telecom, one of Russia's largest telecommunications companies, is expanding its Gilat SkyEdge satellite network to bring telephony and broadband Internet services to a growing number of remote communities in North Western Russia.
Gilat is deploying a SkyEdge broadband satellite communications network for Russia's largest electric utility company, FSK. FSK will use the SkyEdge VSAT network for supervisory control and data acquisition (SCADA) and satellite telephony applications at an initial 650 locations nationwide
Gilat's business unit, Spacenet Rural Communications, contributed to Peru's disaster recovery efforts by deploying a SkyEdge VSAT network and offering free telephony services in the aftermath of the August 16th earthquake.
Gilat's wholly-owned subsidiary, Spacenet Inc., is working with Verizon Business to deploy a custom satellite network for the U.S. Postal Service. The satellite network will provide high performance broadband communications for over 5,000 Postal Service sites in the continental United States, Hawaii, Alaska and Puerto Rico.
Russia's leading satellite service provider, Closed Joint-Stock Company (CJSC) Global-Teleport, is deploying a broadband satellite communications network for the Russian Ministry of Education based on Gilat's SkyEdge systems.
Gilat will host a conference call today at 10:00 AM EST. In order to ensure audio access, participants from the U.S. should dial in at (888) 281-1167, and international participants should dial in at (972) 3-918-0650. The presentation may be accessed through the Company’s website at www.gilat.com prior to the call. The call will also be available as a Webcast on the Company’s website at: www.gilat.com and will be archived for 30 days.
http://biz.yahoo.com/bw/071113/20071113005837.html?.v=1
Spacenet Expands Presence in Government Market With New Customer Deployments and New Contract Vehicle
Thursday November 8, 12:49 pm ET
MCLEAN, Va.--(BUSINESS WIRE)--Spacenet Inc., a leading provider of high-performance satellite networking solutions, today announced that it has expanded its presence in the government market through contracts with new government customers and the recent award of a five-year GSA Schedule Contract, GS-35F-0569T. Spacenet began increasing its focus on the government market with the creation of Spacenet Government Services, a wholly owned subsidiary of Spacenet Inc. Over the past eighteen months the company has stepped up its efforts to meet the demands of federal and civilian agencies and state and local government clients with the launch of new products and services and systems integration capabilities. The new customer contracts and recent GSA schedule award represent the culmination of these efforts.
Spacenet has been providing satellite communications services to a variety of government customers including one of the largest federal civilian organizations, the U.S. Postal Service®. Spacenet recently announced that it is working with Verizon Business on a new contract for the USPS, and has deployed satellite communications to over 5,000 locations to support broadband applications. In addition, Spacenet will provide a custom satellite network for fixed and transportable services supporting both carrier class voice and broadband data communications to a large public safety agency. The new network will use the industry’s only Cisco certified and integrated satellite solution, the Cisco IP VSAT Network ModuleTM, in conjunction with a new Gilat SkyEdge VSAT system, including network operations and management by Spacenet.
The new GSA contract award makes it easier for government clients to purchase Spacenet’s high-performance commercial-off-the-shelf satellite products and services, offered under the Connexstar™ brand. Spacenet’s communications solutions meet the varying operational requirements of government agencies, and services include fixed VSAT networks for mission-critical applications; transportable solutions for rapid deployment and disaster recovery; and continuity of operations planning (COOP) connectivity. In addition, Spacenet offers comprehensive network management services including 24 X 7 customer support, network design and implementation, and program management.
Spacenet CEO Andreas Georghiou said, “Government agencies have increasingly been recognizing the value of satellite communications for a variety of uses including mission-critical network applications and disaster recovery. Spacenet has been revitalizing its offerings to grow within this market. The recent contract awards represent significant achievements as Spacenet Government Services builds momentum. In addition, with the new GSA contract vehicle, government entities benefit from the advantages of Spacenet’s high-performance satellite communications and a simplified ordering process.”
About Spacenet
Founded in 1981, Spacenet Inc. is a leading provider of high-performance satellite and hybrid terrestrial networking solutions for business, government and home/small office customers in the United States and worldwide. Spacenet created a wholly owned subsidiary, Spacenet Government Services, to meet the security, reliability and performance requirements of military, homeland security, first responder and other government agencies. Spacenet has a longstanding tradition of industry leadership and innovation, and today has deployed more than 100,000 network endpoints for customers including many Fortune 500 companies and major government agencies. Spacenet's services include its custom satellite/hybrid network solutions for enterprise and government; Connexstar™ VSAT services for primary, backup and disaster recovery networks; and StarBand® broadband Internet by satellite. Spacenet is based in McLean, Virginia, and operates its own end-to-end services infrastructure including network management, field services and teleport facilities in McLean; Atlanta, Georgia; and Chicago, Illinois. Spacenet is a wholly owned subsidiary of Gilat Satellite Networks Ltd. (Nasdaq:GILT - News). Visit Spacenet at www.spacenet.com.
http://biz.yahoo.com/bw/071108/20071108006029.html?.v=1
Russia's North-West Telecom Expands its Gilat Broadband Satellite Network
Wednesday October 24, 8:30 am ET
Gilat's SkyEdge Networks Serve Universal Service Obligation (USO) Projects Across the Entire Russian Federation
PETAH TIKVA, Israel--(BUSINESS WIRE)--Gilat Satellite Networks Ltd. (Nasdaq:GILT - News) today announced that North-West Telecom, one of Russia’s largest telecommunications companies, is expanding its Gilat SkyEdge satellite network to bring telephony and broadband Internet services to a growing number of remote communities in North Western Russia.
North-West Telecom originally deployed a SkyEdge VSAT network earlier this year to serve several hundred sites in the Arkhangelsk region. The network expansion will serve many more sites in the Murmansk, Karelia, Komi and Vologda regions and will comprise hundreds of SkyEdge Pro VSATs and more than 60 SkyEdge Gateways that provide high-speed mesh trunking and IP connectivity.
North-West Telecom’s deployment of the SkyEdge VSAT network fulfills a Universal Service Obligation (USO) to meet the modern telecommunications requirements of rural communities. The network is operated by Russia's leading satellite service provider, Global-Teleport, which will use its SkyEdge satellite hub station based near Moscow. Gilat has been working closely with Global-Teleport to develop several major communications networks in Russia.
“This is the third major USO project that we are deploying based on Gilat’s SkyEdge product. Combined, those projects span Russia. The expansion of the North-West Telecom project reflects the successful completion of the first phase this year," said Alexey Ostapchuk, General Manager of Global-Teleport. “Gilat’s effective combination of leading-edge technology, seamless integration to our existing network, and global experience in USO projects have opened new opportunities for us in the Russian telecom market," he added.
Arie Rozichner, Gilat's Regional Vice President, Eurasia, said, “A contributing facet of our success in Russia has been our local office that provides the support that our customers require. North-West Telecom’s decision to expand its network with SkyEdge means that our VSATs will continue to help improve the quality of life for citizens in North Western Russia’s rural areas.”
Gilat’s SkyEdge is a satellite communications system that delivers high-quality voice, broadband data and video services over a powerful unified system. SkyEdge represents Gilat’s extensive knowledge base and field-proven product offering, acquired through two decades of experience. SkyEdge’s flexible architecture and efficient space segment utilization make it an ideal platform for operators and service providers.
Gilat in Russia
Gilat's SkyEdge systems have been chosen for a number of very significant federal government projects in Russia, including the Ministry of Education, FGUP "Russian Post" and Universal Service Obligation (USO) projects covering North Western, Siberian and Far East regions. Earlier this week, Gilat announced that is was selected to provide a SkyEdge network for Russia’s largest electric utility company, FSK. Gilat's advanced VSAT technology meets the complex requirements of major operators in Russia, bringing telephony and Internet services to citizens in the country’s remote regions.
About North-West Telecom
Founded in 2001, North-West Telecom provides a wide range of telecommunication services to Russia’s North Western federal district, an area covering more than 1.8 million square kilometers with a population of more than 13.7 million persons. For more information, please visit www.nwtelecom.ru.
About Gilat Satellite Networks Ltd.
Gilat Satellite Networks Ltd. (Nasdaq:GILT - News) is a leading provider of products and services for satellite-based communications networks. The Company operates under three business units: (i) Gilat Network Systems ("GNS"), which is a provider of network systems and associated professional services to service providers and operators worldwide; (ii) Spacenet Inc., which provides managed services in North America for businesses and governments through its Connexstar service brand and for consumers through its StarBand service brand; (iii) Spacenet Rural Communications, which offers rural telephony and Internet access solutions to remote areas primarily in Latin America.
Gilat was founded in 1987 and has shipped over 670,000 Very Small Aperture Terminals (VSATs) to more than 85 countries across six continents. Gilat’s headquarters is located in Petah Tikva, Israel. The Company has 16 sales and service offices worldwide. Gilat markets the SkyEdge™ Product Family which includes the SkyEdge™ Pro, SkyEdge™ IP, SkyEdge™ Call, SkyEdge™ DVB-RCS and SkyEdge™ Gateway. In addition, the Company markets numerous other legacy products. For more information, please visit www.gilat.com.
http://biz.yahoo.com/bw/071024/20071024005694.html?.v=1
William Blair: Apollo, ViaSat likeliest buyers of Gilat
“We believe that Gilat is priced attractively for several potential strategic buyers.”
Shiri Habib 23 Oct 07 13:11
William Blair & Company reiterates its “Outperform” recommendation for Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) on takeover rumors.
William Blair notes “The Financial Times” report that the company is working with an investment bank to determine potential acquisition interest from private equity and public companies. The investment house also notes that Mivtach Shamir Holdings Ltd. (TASE:MISH) offered to buy Gilat at $10 per share in the first quarter. The investment house added that this was, “A price that we believe it deemed too low, but management left open the possibility of being acquired if it found the ‘right opportunity’.”
William Blair adds, “Potential acquirers mentioned in the article include private equity companies Gores Group, Apollo Investments, and publicly traded ViaSat (NYSE:VSAT).
“In our view, the two strategic buyers, Apollo/Hughes Communications Inc. (Nasdaq:HUGH), and ViaSat appear to be the more likely candidates based on the complementary nature of Gilat’s business. Hughes would benefit from an expanded international presence based on Gilat’s worldwide sales offices and expertise in dealing with niche markets. However, given that Hughes and Gilat are the No. 1 and No. 2 players, we think this could create antitrust concerns. If ViaSat was seeking a method to expand beyond the hardware market into full solutions, Gilat would make sense given their expertise in selling into these markets and important existing relationships. We think that a financial buyer would be intrigued by the $150 million in cash on Gilat’s balance sheet and other non-operating assets that could be sold.”
Although William Blair predicts that Gilat’s growth rate will slow in 2008, “We believe that Gilat is priced attractively for several potential strategic buyers and possibly for a financial buyer. We think private equity companies could also factor in non-operating assets (such as real estate values), which could potentially contribute another multiple point. We believe that Gilat’s current management team has done an impressive job of turning the company around and returning it to profitability by focusing the company on profitable niche market opportunities.”
In a separate development, Gilat announced yesterday that it is deploying a SkyEdge broadband satellite communications network for Russia’s largest electric utility company, FSK, which serves more than 142.2 million people.
Gilat closed at $11.03 on Nasdaq yesterday, giving a market cap of $430 million.
http://globes-online.com/serveen/globes/DocView.asp?did=1000266528
Gilat Gets Deal With Russian Firm
Monday October 22, 11:52 am ET
Gilat Satellite Inks Deal With Russian Utility to Launch Communication Satellite Network
PETAH TIKVA, Israel (AP) -- Israeli-based Gilat Satellite Networks Ltd., which services satellite-based communications networks, said Monday it has been hired by Russian electric utility company FSK to launch a network of communication satellites.
The network will provide communication between 650 FSK locations across Russia.
Terms were not disclosed.
Gilat has previously performed work for several Russian government agencies, including the Ministry of Education.
Shares of Gilat Satellite rose 85 cents, 8.2 percent, Monday to $11.17 and reached a 12-month high of $11.18, earlier in the session.
http://biz.yahoo.com/ap/071022/gilat_russia.html?.v=1
CORRECT: Gilat assessing bids from potential suitors: FT
By Robert Daniel
Last Update: 7:06 AM ET Oct 22, 2007Print Subscribe to RSS Disable Live Quotes
TEL AVIV (MarketWatch) -- Gilat Satellite Networks, (GILT:gilat satellite networks ltd shs new
GILT 10.32, -0.05, -0.5%) the Petach Tikva, Israel, satellite-services provider, is assessing bids from a number of potential buyers, people familiar with the matter told the Financial Times. Gilat, working with the investment bank UBS, could draw bids of as much as $500 million, the FT reported. That's up nearly 25% from Gilat's market value on Friday. The bidders include the investment firms Gores Group of California and Apollo Management and a rival satellite-services provider, ViaSat of California, the FT reported. (Corrects percentage increase.)
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Gilat Satellite Networks Ltd. is a provider of products and services for satellite-based communications networks. The Company designs, develops, manufactures, markets and services products that enable end-to-end telecommunications and data networking solutions, as well as broadband Internet solutions based on satellite earth stations, a related central station known as a hub, hardware equipment and software. The satellite earth stations are known as very-small aperture terminals (VSATs). These small units, which attach to communication equipment such as personal computers and telephones, enable the transmission of data, voice and images via geostationary satellites. The services provided by the Company include access to, and communication with, satellites (satellite transponder capacity), installation of network equipment, online network monitoring and network maintenance and repair services and telephone line services based on its VSAT networks.
Gilat Satellite Networks Ltd
Gilat House, 21 Yegia Kapayim Street
Petah Tikva, 49130
Phone: (703) 848-1515
Web Site: http://www.gilat.com/
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