Gilat Announces Second Quarter 2015 Results

Petah Tikva, Israel, August 12, 2015-Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a provider  of satellite networking technology, solutions and services, today reported its results for the second quarter ended June 30, 2015.  

• Revenues for the second quarter of 2015 were US$ 44.3 million compared to US$ 45.2 million in the first quarter of 2015 and US$ 54.1 million in the comparable period of 2014.
• EBITDA for the second quarter of 2015 was a loss of US$ 2.5 million compared to an income of US$ 0.2 million in the first quarter of 2015 and an income of US$ 3.9 million in the comparable period of 2014.
• Cash balances, including restricted cash, net of short-term bank credits, increased by US$ 42.4 million compared to December 31, 2014, resulting in a cash balance of US$ 95.9 million as of June 30, 2015.
• Modified management objectives for 2015: reiterated revenues objective to between US$ 250 to US$ 260 million and modified EBITDAobjective to between US$ 20 to US$ 21 million.

Revenues for the second quarter of 2015 were US 44.3 million, compared to US$ 54.1 million for the same period in 2014.
 
On a non-GAAP basis, operating loss was $5.2 million in the second quarter of 2015 as compared to an operating income of $1.5 million in the comparable quarter of 2014.

On a GAAP basis, operating loss was $7.2 million in the second quarter of 2015 as compared to an operating loss of $0.5 million in the comparable quarter of 2014. 

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