Gilat Satellite Networks revenue dips despite new wins

Gilat Satellite Networks reported revenues of $62.1 million in Q1 2019 compared with $67.4 million in Q1 2018.
Gilat Satellite Networks
Gilat Satellite Networks posted 21.7 percent increase in operating income to $4.5 million in Q1 2019 from $3.7 million in Q1 2018.

Net income increased 22.2 percent to $2.8 million, or $0.05 per diluted share, compared with $2.3 million, or $0.04 per diluted share in Q1 2018.

2019 Adjusted EBITDA increased 9 percent to $8.2 million, or 13.2 percent of revenues, Gilat Satellite Networks said.

Key recent announcements  

# Honeywell selects Gilat’s Aero modem for its JetWave Satellite Communication Solution

# Demonstration of 5G connectivity over a LEO Satellite, powered by Gilat using Telesat’s Phase 1 LEO

# Gilat leads cellular backhaul over satellite, according to NSR

# TIM Brasil selects Gilat’s satellite backhaul to enable 4G services for IoT business

Gilat Satellite Networks is expecting revenue of between $275 million to $295 million and operating income of between $23 million and $27 million, and Adjusted EBITDA between $38 million and $42 million in 2019.

Gilat Satellite Networks secured an important deal with TIM Brasil to enable 4G services for the agriculture IoT business.

Gilat is the front-runner in the LTE/4G satellite backhaul market, and was recognized by the industry analyst NSR, as the world leader in shipments of cellular backhaul over satellite, achieving a 35 percent market share in modem shipments.

Gilat has supplied its modem for using during a 5G test conducted at the 5G Innovation Centre at the University of Surrey, demonstrating 5G connectivity over Telesat’s LEO test satellite.