May 8, 2013
Gilat
Satellite
Networks
Ltd.
reported its
results for
the first
quarter
ended March
31, 2013.
Revenues
for the
first
quarter of
2013 were
$82.8
million,
compared to
$76.6
million for
the same
period in
2012.
On a
non-GAAP
basis,
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.
EBITDA
for the
first
quarter of
2013 reached
$5.1
million
compared
with
$3.0
million in
the
comparable
period in
2012,
representing
a margin of
6.2%.
“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.
In
addition to
securing
various
enterprise
deals, in
the area of
broadband
internet
access we
have
continued
our progress
with
implementation
ahead of
schedule at
NBN Co. with
over 30,000
CPEs
installed,
over 6,000
CPEs
delivered in
support of
the SBBS
service and
a major win
in our
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.”
