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Gilat Announces First Quarter Revenue of $58.6-M |
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PETAH TIKVA, Israel, May 15, 2006/Satnews Daily/ ¾ Gilat Satellite Networks Ltd. (Nasdaq:GILT) has reported first quarter 2006 revenues of $58.6 million, up from $53 million in the comparable quarter of 2005. Net income for the first quarter of 2006 was $1.2 million or $0.05 per diluted share, up from a net loss of $1.9 million or $0.09 per diluted share in the comparable quarter of 2005.
Non-GAAP net income for the first quarter of 2006 was $2.7 million, or $0.12 per diluted share, up from a net loss of $1.9 million or $0.09 per diluted share in the comparable quarter of 2005. Non-GAAP was $8.7 million, up from $4.7 million in the first quarter of 2005.
Gilat's chief executive officer and chairman of the board Amiram Levinberg said the first quarter was a strong quarter, with improvements across all key financial indicators, adding the company is on track in achieving its 2006 management financial objectives.
During the first quarter, Gilat combined its equipment and services to provide a satellite solution for the Mexican Ministry of Education's Enciclomedia project. Under this program, Gilat will be providing over 15,000 SkyEdge VSATs to approximately 33,000 classrooms for five out of eleven regions which have commenced implementation.
Six Continents Hotels, Inc. (SCH), a member of InterContinental Hotels Group, the world's largest hotel group by number of rooms, extended its enterprise network services contract with Gilat's Spacenet subsidiary through December 31, 2008. Spacenet serves more than 2,500 locations across the United States and Canada. SCH will also utilize Spacenet's SmartCare enterprise-grade managed network services.
China Satellite Communications Corp. (China Satcom) also completed deployment of approximately 1,000 Gilat SkyEdge VSATs for rural telephony applications in Gansu Province and Inner Mongolia Autonomous Region. China Satcom is one of China's largest satellite operators and the network will fulfill its Universal Service Obligation (USO).
Gilat Expands Mexico Project with Contract for an Additional 8,500 Site VSAT Network Gilat Provides SkyEdge Broadband Satellite Network to Telecom Operator in Bolivia China Satcom Completes Deployment of 1,000 Gilat SkyEdge VSATs |
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