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GILAT SATELLITE NETWORKS LTD.

(GILT)
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Tier-1 US Global Military Terminal Provider Places Order of Over $5M with Gilat for Solid State Amplifiers

11/30/2021 | 07:15am EST

PETAH TIKVA, Israel, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today a follow-on order of over $5M from a Tier-1 US global military terminal provider for Solid State Power Amplifiers (SSPAs) for satellite communication (SATCOM) terminals sold to militaries throughout the world. Further contract expansion for Wavestream MicroStream SSPAs is expected in the near future.

Gilat's fully-owned subsidiary, Wavestream, will provide tightly integrated MicroStream frequency conversion/amplifier units. Wavestream's MicroStream Ka-band SSPAs were chosen because they efficiently meet the exacting SWaP requirements most essential for tactical and expeditionary military users.

"We are proud of the partnership we are building with this customer, and this order is indicative of their continued trust in Wavestream technology, production capacity, and reliability," said Bob Huffman, Wavestream’s General Manager.

About Wavestream
Wavestream, a Gilat subsidiary is the industry leader in the design and manufacture of next generation satellite communications high power transceivers for In Flight Connectivity, Ground Mobility and Gateway markets. Since 2001, we provide system integrators with field-proven, high performance Ka, Ku and X band Solid State Power Amplifiers (SSPAs), Block Upconverters (BUCs), Block Down Converters and Transceivers. We design, manufacture and repair our products in-house and have delivered over 40,000 systems in the past 15 years. Wavestream products provide high quality and reliability under the harshest environmental conditions and we are currently certified to ISO 9001:2008 and AS9100D standards. For further details please visit www.wavestream.com

About Gilat
Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With 30 years of experience, we design and manufacture cutting-edge ground segment equipment, and provide comprehensive solutions and end-to-end services, powered by our innovative technology. Delivering high value competitive solutions, our portfolio comprises of a cloud based VSAT network platform, high-speed modems, high performance on-the-move antennas and high efficiency, high power Solid State Amplifiers (SSPA) and Block Upconverters (BUC).

Gilat’s comprehensive solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense and public safety, all while meeting the most stringent service level requirements. Gilat controlling shareholders are the FIMI Private Equity Funds. For more information, please visit: www.gilat.com

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, risks associated with the outbreak and global spread of the coronavirus (COVID-19) pandemic; 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. We undertake no obligation to update or revise any forward-looking statements for any reason.

Contact:
Gilat Satellite Networks
Doreet Oren, Senior Director Corporate Communications
DoreetO@gilat.com

GK Investor and Public Relations
Ehud Helft, Managing Partner
ehud@gkir.com


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Financials (USD)
Sales 2021 216 M - -
Net income 2021 -2,39 M - -
Net Debt 2021 - - -
P/E ratio 2021 -189x
Yield 2021 -
Capitalization 428 M 428 M -
Capi. / Sales 2021 1,99x
Capi. / Sales 2022 1,65x
Nbr of Employees 779
Free-Float 80,3%
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Adi Sfadia Chief Executive Officer
Bosmat Halpern-Levy Finance Director & Assistant VP-Finance
Isaac Angel Chairman
Alik Shimelmits Chief Technology & Product Officer
Noam Rosenfeld Senior Vice President-Research & Development
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