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Gilat Satellite Networks again pushes up profit amid lower revenues in Q1

Wednesday 15 May 2019 | 14:17 CET | News
Gilat Satellite Networks reiterated its full year guidance after reporting a positive set of first quarter results, with profits again going higher despite lower revenues. CEO Yona Ovadia said the company won important contracts in the quarter, for its aero modem, 4G services, 4G satellite backhaul and 5G networks. The CEO noted the company pushed up capex in 2019 to further develop these areas. The company also declared a cash dividend of USD 25 million. 

Revenues for the quarter slipped to USD 62.1 million from 67.4 million the year before, but the operating increased 21 percent to USD 4.5 million and the net profit rose 22.2 percent to USD 2.8 million or USD 0.05 per diluted share. The adjusted EBITDA lifted 9 percent to USD 8.2 percent. 

For the full year, the company sees revenues at USD 275-295 million, the operating profit at USD 23-27 million and the adjusted EBITDA at USD 38-42 million.



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Categories: Broadcast & Satellite
Companies: Gilat Satellite Networks
Countries: World
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