Gilat Satellite Networks Ltd (GILT)

[midastouch017]

Perhaps this is the reason ?

Gilat restates 2004 report to reflect non-cash change
04.12.05 | 09:19
Gilat Satellite Networks (NASDAQ: GILTD) said Thursday it restated its 2004 annual report to reflect a non-cash change in the accounting treatment of interest liabilities related to a modification of a loan from Bank Hapoalim.

The Petah Tikva, Israel-based company said the restatements reflect an increase in its paid in capital by $15.5 million, a decrease in its debt by $13.4 million and an increase in financial expenses by $2.1 million.

The revision, Gilat added, had no effect on its reported revenue, cash flow, total assets or cash.
The company's shares rose 27 cents, or 5.1 percent, to $5.54 in midday trading on the Nasdaq on more than double volume. In the past 52 weeks, shares have changed hands between $5.06 and $7.62.

Gilat also said it will hold a special shareholders meeting on Dec. 27.

http://www.haaretz.com/hasen/spages/653396.html

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