Gilat revenues up 8% to $82.8M in 1Q 2013

Petah Tikva, Israel, May 8, 2013 — Gilat Satellite Networks Ltd. said revenues rose 8 percent to US$ 82.8 million while EBITDA increased to US$ 5.1 million, up 74 percent, during the first quarter of 2013.

On a non-GAAP basis, Gilat said its operating income for the first quarter of 2013 was $1.0 million compared to an operating loss of $0.3 million in the first quarter of 2012. Net loss for the period on a non-GAAP basis was $0.3 million, or $0.01 per diluted share, compared to net loss of $0.8 million, or $0.02 per diluted share, in the comparable period in 2012.

 “We are pleased with our results for the first quarter of 2013 as we achieved year-over-year improvement in revenue and EBITDA,” said Erez Antebi, Chief Executive Officer of Gilat. “Our Commercial division continues to be a significant source of revenue as we executed well on existing projects while closing new deals.

Antebi added that in the area of broadband internet access, Gilat has continued its progress with implementation ahead of schedule at NBN Co. in Australia with over 30,000 CPEs installed, over 6,000 CPEs delivered in support of the SBBS service and a major win worth $12.8 million in its Services Division with the Peruvian Ministry of Education to connect thousands of schools nationwide.

“In our Defense Division, although Sequestration has limited our overall visibility,” continued Antebi, “we continue to deliver on new and existing projects with defense and aviation system integrators. We are confident in our ability to increase service to international defense markets and believe this will offset to some degree, the uncertainty in the U.S.”

Gilat said France’s NordNet has deployed Gilat’s SkyEdge II-c VSATs for high-end broadband-over-satellite service while Hispasat has expanded its broadband satellite-based network with additional SkyEdge II System from Gilat.

Gilat is also set to equip IDF with SatTrooper-1000 Military Manpack for Advanced Tactical Communications and has launched the new Scalable SkyEdge II-c Platform For Ka and Ku-band Internet Access.

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