Gilat reports “strong” Q2
August 10, 2022
By Chris Forrester
Satellite network communications specialist Gilat has reported revenue of $55.5 million (€54.3m), up 1.2 per cent, operating profit $1.5 million (vs a loss last year of $400k) and Adjusted EBITDA of $5.3 million.
The Israel-based company reiterated its 2022 guidance of overall revenues between $245 to $265 million, representing y-o-y growth of between 14-23 per cent, and Adjusted EBITDA of between $20 to $24 million, representing y-o-y growth of adjusted EBITDA between 30-56 per cent.
The company said: “This was an exceptional quarter with significant multimillion dollar orders for Gilat’s next generation platform, SkyEdge IV. We expanded the global strategic relationships with our partners, the satellite operators, SES and Intelsat, and are competing on important GEO VHTS opportunities in our pipeline with additional major satellite operators. Furthermore, our SSPA business for this new and exciting market is progressing as planned, and as such, we believe we are well positioned to seize opportunities in the multibillion market of the next era of satellite communication.”
Adi Sfadia, Gilat’s CEO, commented: “We are pleased with our strong results, especially with the solid improvement in our profitability. We continue to successfully capitalise on the opportunities in our pipeline, and we see increasing growth potential in our end-markets for the coming years. Looking out to the rest of the year, we feel increasingly comfortable and remain on target to meet our goals.”