February 18, 2014
Gilat Satellite Networks Ltd. reported its
results for the fourth quarter and year ended
December 31, 2013.
Revenues for the fourth quarter of 2013 were
$55.7 million, compared to $76.5 million for the
same period in 2012. Revenues for the year ended
December 31, 2013 were $234.9 million, compared to
$271.6 million in the year ended December 31, 2012.
On a non-GAAP basis, operating loss
was $0.1 million in the fourth quarter of 2013 as
compared to an operating income of $5.6 million in
the comparable quarter of 2012. Operating income for
2013 on a non-GAAP basis was $4.4 million compared
to operating income of $19.1 million 2012.
On a non-GAAP basis, net loss for
the quarter was $1.0 million or $.02 per diluted
share compared to net income of $6.6 million or $.15
per diluted share in the same quarter of 2012. Net
loss for 2013 on a non-GAAP basis was $1.1 million
compared to net income of $17.6 million in 2012.
EBITDA for the fourth quarter of 2013 reached
$2.5 million compared with $8.9 million in the
comparable period in 2012. EBITDA for the twelve
months of 2013 reached $16.3 million compared with
$30.7 million in the comparable period in 2012.
“2013 was a challenging year for Gilat,” said
Erez Antebi, CEO of Gilat. “Looking
forward, we have worked to streamline the Company
and its cost structure. We begin 2014 with a healthy
balance sheet, strong cash position
and a backlog which has more than doubled from 2013.
And, we have successfully positioned ourselves in
growing markets with many opportunities.”
