Gilat… Financially Speaking…

[SatNews] Gilat Satellite Networks Ltd. has reported that net income for the third quarter ended September 30, 2010, was $36.21 million, or $0.86 per diluted share, compared to $2.49 million, or $0.06 per diluted share, for the same quarter of 2009. Revenues for the third quarter ended September 30, 2010 were $58.02 million, compared to $54.64 million for the same quarter of 2009. Net income for nine months ended September 30, 2010 was $35.52 million, or $0.85 per diluted share, compared to $1.53 million, or $0.04 per diluted share for the same period of 2009. Revenues for nine months ended September 30, 2010 were $166.93 million, compared to $171.47 million for the same period of 2009. Gilat’s CEO and Chairman of the Board, Amiram Levinberg, said “Our revenue growth and improved financial results are encouraging. We recently signed a definitive agreement to acquire Wavestream Corporation which is a significant milestone in implementing our strategy to enter the defense market, specifically in the US. We estimate that the acquisition will be completed by the end of this year, and then it is expected to have a positive impact on our revenues and profitability. It will also extend our core technologies, the range of solutions we offer and our customer base.” To read the entire financial report, select this direct .pdf download link.