Gilat Doubles Backlog in 2013 to US$ 228 million
Petah Tikva, Israel - February 18, 2014 - Gilat Satellite Networks Ltd. today reported its results for the fourth quarter and year ended December 31, 2013. Revenue for 2013 was US$ 234.9 million with EBITDA of US$ 16.3 million. Gilat reported strong backlog of US$ 228 million at the end of 2013 more than doubled as compared to US$98.9 million at the end of 2012.
Revenues for the fourth quarter of 2013 were US$ 55.7 million, compared to US$ 76.5 million for the same period in 2012. Revenues for the year ended December 31, 2013 were US$ 234.9 million, compared to US$ 271.6 million in the year ended December 31, 2012.
On a non-GAAP basis, operating loss was US$ 100,000 in the fourth quarter of 2013 as compared to an operating income of US$ 5.6 million in the comparable quarter of 2012.Operating income for 2013 on a non-GAAP basis was US$4.4 million compared to operating income of US$19.1 million 2012.
Management objectives for 2014 are in the range of $240 to $245 million in revenue with EBITDA of approximately 9%, according to the company.
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