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TMCNet:  Gilat reports growth in revenues and operating income for Q3

[November 14, 2012]

Gilat reports growth in revenues and operating income for Q3

Nov 14, 2012 (M2 EQUITYBITES via COMTEX) -- Gilat Satellite Networks Ltd (NASDAQ:GILT), which specialises in satellite networking technology, solutions and services, reported today an increase in revenues and operating income for the third quarter ended 30 September 2012.

Revenues for the third quarter of 2012 grew to USD89m, from USD83.9m for the same period in 2011.

Operating income on a GAAP basis amounted to USD3.2m, compared to USD1.9m in the third quarter of 2011, although net income dropped to USD3.3m, or USD0.08 per diluted share, from net income of USD4.3m, or USD0.10 per diluted share, a year earlier.

Gilat's CEO, Erez Antebi, said that the company remains focused on its strategic growth segments of Ka and Satellite-on-the-Move, as well as its drive to increase profitability and generate cash.

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