PETAH TIKVA - Gilat Satellite Networks Ltd. (NASDAQ:TASE: NASDAQ:GILT), a global satellite networking technology company, today announced a significant order from a top In-Flight Connectivity (IFC) Service Provider. The deal, valued in the multimillions, is primarily for Gilat's Taurus Aero modems, which are already in use by numerous commercial airlines worldwide.
The Taurus modems are designed to meet the satellite communication needs for multi-orbit constellations and Very High Throughput Satellites (VHTS), providing high-performance connectivity solutions to air travelers. This new order represents an expansion and upgrade of the service provider's current IFC capabilities.
Amir Yafe, VP of Mobility & Global Accounts at Gilat, expressed the company's pride in being chosen to enhance the IFC services, highlighting the industry's trust in Gilat's advanced satellite communication solutions. Gilat anticipates this partnership will further innovation and improve the IFC experience for aviation customers globally.
Gilat Satellite Networks has over 35 years of experience in the field and offers a broad range of satellite-based broadband communications solutions. Their portfolio includes high-performance satellite terminals, Satellite On-the-Move (SOTM) antennas, Solid State Power Amplifiers (SSPA), Block Upconverters (BUC), and integrated ground systems for various sectors including commercial, defense, aerospace, and government.
The announcement is based on a press release statement from Gilat Satellite Networks.
InvestingPro Insights
As Gilat Satellite Networks Ltd. (NASDAQ:TASE: GILT) secures a substantial new order to boost its In-Flight Connectivity (IFC) services, the company's financial health and market performance provide investors with a clearer picture of its potential. Gilat's current market capitalization stands at a solid 344.17 million USD, reflecting investor confidence in the firm's market position and future prospects.
One of the key metrics demonstrating Gilat's financial stability is its Price to Earnings (P/E) ratio. As of the last twelve months ending in Q4 2023, the company's P/E ratio was 14.77, suggesting that the stock is reasonably valued compared to its earnings. Additionally, Gilat's revenue growth has been positive, with a 10.94% increase over the last twelve months, indicating a healthy expansion in its business operations.
Investors looking for signs of operational efficiency will note Gilat's gross profit margin of 39.44%, which showcases the company's ability to manage its production and service costs effectively. This is further supported by an EBITDA growth of an impressive 85.77% over the same period.
Two InvestingPro Tips highlight Gilat's financial prudence and recent performance. Firstly, the company holds more cash than debt on its balance sheet, providing it with a cushion to navigate market uncertainties. Secondly, Gilat has seen a significant return over the last week, with a 1 Week Price Total Return of 11.33%, signaling strong short-term investor optimism.
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