Adi Tzafdia, CEO of Gilat (Gilat Photo)
Despite a follow-up contract that Gilat received, the company’s share continues to fall in New York. The stock is losing more than 3.5% and completes declines of about 13% since the beginning of the year. Gilat Nazkir provides high quality satellite communications services designed, among other things, for secure satellite communications for the security forces, communications at sea and so on.
Last year a contract of a large customer of the company ended. A customer who “sat” on a $ 50 million contract. Today (Monday) the company signed a follow-up contract with the customer, the first phase of which has a total financial volume of $ 8 million.
The new contract is for services on gateways in low-satellite orbits (LEO). In fact, the agreement was signed with Gilat’s subsidiary, Wavestream, which was selected as the exclusive provider of solid state amplifiers (SSPA) for a leading satellite operator, for the use of gateways for low-orbit satellite constellations (LEO). As mentioned, this is a continuation order beyond the $ 50 million contract that the company reported last year, which is currently being executed.
“This type of recurring revenue is a testament to our reliable production capability and compliance with stringent requirements for satellite groups in NGSO orbits,” said Bob Hoffman, CEO of Wavestream and senior vice president at Gilat. “Our production capability, product reliability and experience with high-power Ka-solid state amplifier technology position us in a good position to capture a significant share of the low-orbit satellite gateways market.”
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment