KVH Industries Inc
Change company Symbol lookup
Select an option...
KVHI KVH Industries Inc
BHC Bausch Health Companies Inc
ANPC AnPac Bio-Medical Science Co Ltd
TREX Trex Company Inc
VIVO Meridian Bioscience Inc
WASH Washington Trust Bancorp Inc
AWF AllianceBernstein Global High Income Fund Inc.
AVK Advent Convertible & Income Fund
AVK Advent Convertible & Income Fund
AVB Avalonbay Communities Inc
Go

Information Technology : Communications Equipment | Small Cap Blend
Company profile

KVH Industries, Inc. is a manufacturer of solutions that provide high-speed Internet, television and voice services through satellite to mobile users at sea and on land. The Company also provides commercially licensed entertainment, including news, sports, music and movies, to commercial and leisure customers in the maritime, hotel and retail markets. It operates in two geographic segments, in the mobile communications, navigation and guidance and stabilization equipment industry. The Company develops and distributes training films and e-learning computer-based training courses to commercial maritime customers. It is also a manufacturer of navigational sensors and integrated inertial systems for defense and commercial guidance and stabilization applications. It designs, develops, manufactures and markets mobile communications products and services for the marine and land mobile markets, and navigation, guidance and stabilization products for both the commercial and defense markets.

Premarket

Last Trade
Delayed
$9.20
0.04 (0.44%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$9.16
Day's Change
0.00 (0.00%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Light)
Volume:
211

10-day average volume:
29,045
211

Gilat Reports Q2 2020 Results

7:06 am ET August 31, 2020 (Globe Newswire) Print

Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the second quarter ended June 30, 2020.

Key Financial Highlights:

-- Revenues for Q2 2020 totaled $38.3 million compared with $59.7 million for Q2 2019.

-- Q2 2020 - GAAP operating loss was $3.5 million compared to operating income of $4.9 million in Q2 2019. Q2 2020 Non-GAAP operating loss was $2.6 million compared to Non-GAAP operating income of $6.3 in Q2 2019.

-- Q2 2020 GAAP net loss was $4.2 million, or loss of $0.08 per diluted share, compared with net income of $3.4 million, or income of $0.06 per diluted share in Q2 2019. Q2 2020 non-GAAP net loss was $3.3 million, or $0.06 per diluted share, compared with net income of $4.8 million, or $0.09 per diluted share, in Q2 2019.

-- Q2 2020 Adjusted EBITDA was $0.1 million compared with Adjusted EBITDA of $8.9 million in Q2 2019.

Adi Sfadia, Gilat's interim CEO, commented:

"The COVID-19 pandemic continued to affect Gilat's second quarter 2020 results, as we continued to see postponements and delays in orders. However, during the second quarter we began to see and are continuing to see a recovery in most of our areas of operations which is demonstrated by a significant increase in pipeline opportunities. We believe that as a result of these trends, coupled with the cost reduction initiatives we have executed and are continuing to execute, the second half of 2020 will be meaningfully better than the first half, for Gilat.

"I am pleased to report that Bosmat Halpern, Gilat's AVP Finance has been appointed as Gilat's interim CFO, and I am confident in her ability to wisely navigate Gilat's finances through these unprecedented times."

Comtech Transaction and Litigation

The acquisition of Gilat by Comtech Telecommunications Corp ("Comtech") remains subject to certain conditions to closing, including regulatory approvals in Russia. As previously reported, Comtech filed a complaint against Gilat in the Delaware Court of Chancery seeking declaratory judgments that certain actions, if taken by Gilat in connection with Russia regulatory approval would breach Gilat's obligations under the Merger Agreement and that Gilat has suffered a Material Adverse Effect, as defined in the Merger Agreement, as a result of the COVID-19 pandemic. As a consequence, Comtech contends that it is not required to consummate the merger.

Gilat strongly rejects all such allegations, and on July 21, 2020, Gilat filed a complaint against Comtech in the Delaware Court of Chancery, seeking a Court order requiring Comtech to specifically perform its obligations under the merger agreement, including using its reasonable best efforts to obtain regulatory approval as soon as practicable (as well as seeking all other relief deemed proper, including damages). The Complaint also seeks a declaratory judgment that, if Russian regulatory approval is not obtained by the termination date of the merger agreement, satisfaction of the Russian regulatory condition be excused, and a declaratory judgment that Gilat has not suffered a "Material Adverse Effect". Trial is scheduled for early October 2020.

Key Recent Announcements

-- Gilat Awarded Over $10 Million for a Five-Year Service Project for 4G Backhaul Services in Latin America

-- US Tier-1 Mobile Operator Awards Gilat a Multi-Million Dollar Service Contract for Cellular Backhaul

-- Africa Mobile Networks (AMN) Extends Gilat's Contract of Powering Africa's Largest Satellite Cellular Backhaul Network

-- Gilat Awarded Cellular Backhaul Project for Kcell, Kazakhstan's Largest Mobile Network Operator

-- Gilat Selected to Extend and Expand Managed Service Cellular Backhaul Project by a Leading Mobile Operator in Mexico

-- Telefonica International Wholesale Services (TIWS) Selects Gilat for Broadband and Cellular Backhaul Project in Argentina

-- Gilat's Airborne Technology Enables Opening-up of the Chinese Ka-Band IFEC Market and Driving a Multi-Million Dollar Market Opportunity

-- Gilat Announces Availability of its Flagship VSAT, Achieving Half a Gigabit of Concurrent Speeds

Non-GAAP Measures

The attached summary unaudited financial statements were prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). To supplement the consolidated financial statements presented in accordance with GAAP, the Company presents Non-GAAP presentations of net income, operating income, Adjusted EBITDA and earnings per share. The adjustments to the Company's GAAP results are made with the intent of providing both management and investors a more complete understanding of the Company's underlying operational results, trends and performance. Non-GAAP financial measures mainly exclude the effect of stock based compensation, amortization of purchased intangibles, lease incentive amortization, litigation expenses, income related to trade secrets claims, restructuring and reorganization costs, merger and acquisition costs and initial recognition of deferred tax asset with respect to carry-forward losses.

Adjusted EBITDA is presented to compare the Company's performance to that of prior periods and evaluate the Company's financial and operating results on a consistent basis from period to period. The Company also believes this measure, when viewed in combination with the Company's financial results prepared in accordance with GAAP, provides useful information to investors to evaluate ongoing operating results and trends. Adjusted EBITDA, however, should not be considered as an alternative to operating income or net income for the period and may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Adjusted EBITDA is not a measure of financial performance under GAAP and may not be comparable to other similarly titled measures for other companies. Reconciliation between the Company's Operating income and Adjusted EBITDA is presented in the attached summary financial statements.

Non-GAAP presentations of net income, operating income, Adjusted EBITDA and earnings per share should not be considered in isolation or as a substitute for any of the consolidated statements of operations prepared in accordance with GAAP, or as an indication of Gilat's operating performance or liquidity.

About Gilat

Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With 30 years of experience, we design and manufacture cutting-edge ground segment equipment, and provide comprehensive solutions and end-to-end services, powered by our innovative technology. Delivering high value competitive solutions, our portfolio comprises of a cloud based VSAT network platform, high-speed modems, high performance on-the-move antennas and high efficiency, high power Solid-State Amplifiers (SSPA) and Block Upconverters (BUC).

Gilat's comprehensive solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense and public safety, all while meeting the most stringent service level requirements. Gilat controlling shareholders are the FIMI Private Equity Funds. For more information, please visit: www.gilat.com

Safe Harbor Statement

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance or achievements of Gilat, or the expected results of the proposed transaction with Comtech to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Due to such uncertainties and risks, no assurances can be given that such expectations will prove to have been correct, and readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. The forward-looking statements contained herein include, but are not limited to, statements about the results, performance or achievements of Gilat, Gilat's plans, objectives and expectations for future operations, the expected completion of the proposed transaction with Comtech, the satisfaction or waiver of any conditions to the proposed transaction, and other events relating to the proposed transaction. Forward-looking statements are often characterized by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "estimate," "continue," "believe," "should," "intend," "plan," "project" or other similar words, but are not the only way these statements are identified. These forward-looking statements are based upon Gilat's management's current estimates and projections of future results or trends. In addition to the risks and uncertainties described in the Annual Report on Form 20-F for the year ended December 31, 2019 and in the proxy statement/prospectus dated April 3, 2020 and those described in any other documents filed with the Securities and Exchange Commission, such risks and uncertainties include, among others, (i) changes in general economic and business conditions, (ii) the inability to maintain market acceptance of Gilat's products, (iii) the inability to timely develop and introduce new technologies, products and applications, (iv) rapid changes in the market for Gilat's products, (v) loss of market share and pressure on prices resulting from competition, (vi) introduction of competing products by other companies, (vii) the inability to manage growth and expansion, (viii) loss of key OEM partners, (ix) the inability to attract and retain qualified personnel, (x) the inability to protect the Company's proprietary technology, (xi) risks associated with Gilat's international operations and its location in Israel and (xii) risks relating to the Merger of wholly owned subsidiary of Comtech with and into Gilat (the "Merger"), including, among others: (1) the risk that the conditions to the closing of the are not satisfied, including the risk that required approvals for the Merger from governmental authorities are not received; (2) changes or circumstances that could give rise to the termination of the Merger Agreement; (3) the risk that the value of the stock merger consideration will fluctuate over time; (4) litigation relating to the Merger; (5) uncertainties as to the timing of the consummation of the Merger and the ability of each party to consummate the Merger; (6) risks that the proposed Merger disrupts the current plans and operations of Gilat or Comtech, or both; (7) the ability of Gilat and Comtech to retain and hire key personnel; (8) competitive responses to the proposed Merger and the impact of competitive products; (9) unexpected costs, charges or expenses resulting from the Merger; (10) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Merger; (11) the combined company's ability to achieve the financial and operating results, growth prospects and synergies expected from the Merger, as well as delays, challenges and expenses associated with integrating the existing businesses of Comtech and Gilat; (12) the combined company's ability to maintain and improve relationships with customers, suppliers and other third parties following the Merger; (13) the terms and availability of the indebtedness that may be incurred in connection with the Merger; (14) the timing and funding of government contracts; (15) risks associated with international sales; (16) risks associated with legal proceedings, customer claims for indemnification and other similar matters; (17) risks associated with Comtech's obligations under its credit facility; (18) risks associated with the outbreak and global spread of the coronavirus (COVID-19) pandemic; and (19) legislative, regulatory, technological, political and economic developments, including changing business conditions in the industries in which Comtech and Gilat operate and the overall economy. as well as the financial performance and expectations of Comtech's and Gilat's existing and prospective customers.

The foregoing list of factors is not exclusive and you should not place undue reliance on any forward-looking statement. All forward-looking statements contained herein are made only as of the date of the date hereof and, except as required by law, Gilat does not undertake any obligation to update publicly any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof.

For additional information regarding these and other risks and uncertainties associated with Gilat's business and the pending acquisition of Gilat by Comtech, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.

Contact:

Gilat Satellite Networks

Doreet Oren, Director Corporate Communications

DoreetO@gilat.com

GILAT SATELLITE NETWORKS LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars in thousands (except share and per share data)
                                                    Six months ended                        Three months ended
                                                    June, 30                                June, 30
                                                        2020                2019                2020                2019
                                                    Unaudited                               Unaudited
Revenues                                            $   85,988          $   121,794         $   38,315          $   59,685
Cost of revenues                                        67,514              76,239              28,727              37,700
Gross profit                                            18,474              45,555              9,588               21,985
Research and development expenses                       13,773              16,492              6,139               7,635
Less - grants                                           472                 1,094               200                 539
Research and development expenses, net                  13,301              15,398              5,939               7,096
Selling and marketing expenses                          8,650               11,288              3,584               5,417
General and administrative expenses (*)                 7,791               9,527               2,973               4,585
Merger and acquisition costs                            2,951               -                   546                 -
Total operating expenses                                32,693              36,213              13,042              17,098
Operating income (loss)                                 (14,219    )        9,342               (3,454     )        4,887
Financial expenses, net                                 (1,429     )        (1,400     )        (457       )        (579       )
Income (loss) before taxes on income                    (15,648    )        7,942               (3,911     )        4,308
Taxes on income                                         332                 1,713               314                 903
Net income (loss)                                   $   (15,980    )    $   6,229           $   (4,225     )    $   3,405
Basic and Diluted earnings (loss) per share         $   (0.29      )    $   0.11            $   (0.08      )    $   0.06
Weighted average number of shares used in
               computing earnings (loss) per share
               Basic                                    55,499,300          55,262,453          55,505,342          55,327,318
               Diluted                                  55,499,300          56,014,927          55,505,342          56,070,351
               (*) Including restructuring cost
GILAT SATELLITE NETWORKS LTD.
RECONCILIATION BETWEEN GAAP AND NON-GAAP STATEMENTS OF OPERATIONS
FOR COMPARATIVE PURPOSES
U.S. dollars in thousands (except share and per share data)
                                                                      Three months ended                                                                     Three months ended
                                                                      June 30, 2020                                                                          June 30, 2019
                                                                      GAAP                         Adjustments (1)              Non-GAAP                     GAAP                       Adjustments (1)              Non-GAAP
                                                                      Unaudited                                                                              Unaudited
Gross profit                                                          $            9,588                        54              $            9,642           $            21,985                     312             $            22,297
Operating expenses                                                                 13,042                       (831         )               12,211                       17,098                     (1,077       )               16,021
Operating income (loss)                                                            (3,454       )               885                          (2,569       )               4,887                      1,389                        6,276
Income (loss) before taxes on income                                               (3,911       )               885                          (3,026       )               4,308                      1,389                        5,697
Net income (loss)                                                                  (4,225       )               885                          (3,340       )               3,405                      1,389                        4,794
Earnings (loss) per share (basic and diluted)                         $            (0.08        )  $            0.02            $            (0.06        )  $            0.06          $            0.03            $            0.09
Weighted average number of shares used in
computing earnings per share
Basic                                                                              55,505,342                                                55,505,342                   55,327,318                                              55,327,318
Diluted                                                                            55,505,342                                                55,505,342                   56,070,351                                              56,218,672
(1) Adjustments reflect the effect of non-cash stock-based compensation as per ASC 718, amortization of intangible assets related to shares acquisition transactions, merger and acquisition costs, trade secrets and other litigation expenses and restructuring and re-organization costs.
                                                                      Three months ended                                                                     Three months ended
                                                                      June 30, 2020                                                                          June 30, 2019
                                                                                                   Unaudited                                                                            Unaudited
GAAP net income (loss)                                                                             $            (4,225       )                                                          $            3,405
Gross profit
Non-cash stock-based compensation expenses                                                                      49                                                                                   49
Amortization of intangible assets related to acquisition transactions                                           5                                                                                    234
Restructuring and re-organization costs                                                                         -                                                                                    29
                                                                                                                54                                                                                   312
Operating expenses
Non-cash stock-based compensation expenses                                                                      235                                                                                  373
Amortization of intangible assets related to acquisition transactions                                           50                                                                                   49
Trade secrets and other litigation expenses                                                                     -                                                                                    100
Merger and acquisition costs                                                                                    546                                                                                  -
Restructuring and re-organization costs                                                                         -                                                                                    555
                                                                                                                831                                                                                  1,077
Non-GAAP net income (loss)                                                                         $            (3,340       )                                                          $            4,794
GILAT SATELLITE NETWORKS LTD.
RECONCILIATION BETWEEN GAAP AND NON-GAAP STATEMENTS OF OPERATIONS
FOR COMPARATIVE PURPOSES
U.S. dollars in thousands (except share and per share data)
                                                                      Six months ended                                                                       Six months ended
                                                                      June 30, 2020                                                                          June 30, 2019
                                                                      GAAP                         Adjustments (1)              Non-GAAP                     GAAP                       Adjustments (1)              Non-GAAP
                                                                      Unaudited                                                                              Unaudited
Gross profit                                                          $            18,474                       116             $            18,590          $            45,555                     638             $            46,193
Operating expenses                                                                 32,693                       (3,937       )               28,756                       36,213                     (1,906       )               34,307
Operating income (loss)                                                            (14,219      )               4,053                        (10,166      )               9,342                      2,544                        11,886
Income (loss) before taxes on income                                               (15,648      )               4,053                        (11,595      )               7,942                      2,544                        10,486
Net income (loss)                                                                  (15,980      )               4,053                        (11,927      )               6,229                      2,544                        8,773
Earnings (loss) per share (basic and diluted)                         $            (0.29        )  $            0.08            $            (0.21        )  $            0.11          $            0.05            $            0.16
Weighted average number of shares used in
computing earnings per share
Basic                                                                              55,499,300                                                55,499,300                   55,262,453                                              55,262,453
Diluted                                                                            55,499,300                                                55,499,300                   56,014,927                                              56,180,698
(1) Adjustments reflect the effect of non-cash stock-based compensation as per ASC 718, amortization of intangible assets related to shares acquisition transactions, merger and acquisition costs, trade secrets and other litigation expenses and restructuring and re-organization costs.
                                                                      Six months ended                                                                       Six months ended
                                                                      June 30, 2020                                                                          June 30, 2019
                                                                                                   Unaudited                                                                            Unaudited
GAAP net income (loss)                                                                             $            (15,980      )                                                          $            6,229
Gross profit
Non-cash stock-based compensation expenses                                                                      106                                                                                  143
Amortization of intangible assets related to acquisition transactions                                           10                                                                                   466
Restructuring and re-organization costs                                                                         -                                                                                    29
                                                                                                                116                                                                                  638
Operating expenses
Non-cash stock-based compensation expenses                                                                      601                                                                                  1,150
Amortization of intangible assets related to acquisition transactions                                           101                                                                                  101
Trade secrets and other litigation expenses                                                                     11                                                                                   100
Merger and acquisition costs                                                                                    2,951                                                                                -
Restructuring and re-organization costs                                                                         273                                                                                  555
                                                                                                                3,937                                                                                1,906
Non-GAAP net income (loss)                                                                         $            (11,927      )                                                          $            8,773
GILAT SATELLITE NETWORKS LTD.
SUPPLEMENTAL INFORMATION
U.S. dollars in thousands
ADJUSTED EBITDA:
                                                 Six months ended           Three months ended
                                                 June 30,                   June 30,
                                                    2020           2019         2020            2019
                                                 Unaudited                  Unaudited
GAAP operating income (loss)                     $  (14,219 )   $  9,342    $   (3,454 )    $   4,887
Add:
Non-cash stock-based compensation expenses          707            1,293        284             422
Trade secrets and other litigation expenses         11             100          -               100
Restructuring and re-organization costs             273            584          -               584
Merger and acquisition costs                        2,951          -            546             -
Depreciation and amortization (*)                   5,382          5,786        2,718           2,909
Adjusted EBITDA                                  $  (4,895  )   $  17,105   $   94          $   8,902
(*) Including amortization of lease incentive
SEGMENT REVENUE:
                                                 Six months ended           Three months ended
                                                 June 30,                   June 30,
                                                    2020           2019         2020            2019
                                                 Unaudited                  Unaudited
Fixed Networks                                   $  44,790      $  66,836   $   21,779      $   30,408
Mobility Solutions                                  33,207         43,499       14,006          22,587
Terrestrial Infrastructure Projects                 7,991          11,459       2,530           6,690
Total revenue                                    $  85,988      $  121,794  $   38,315      $   59,685
GILAT SATELLITE NETWORKS LTD.
CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
                                                      June 30,          December 31,
                                                          2020               2019
                                                      Unaudited         Audited
ASSETS
CURRENT ASSETS:
Cash and cash equivalents                             $   59,601        $    74,778
Restricted cash                                           25,579             27,067
Trade receivables, net                                    28,560             47,731
Contract assets                                           32,060             23,698
Inventories                                               32,489             27,203
Other current assets                                      15,581             23,007
Total current assets                                      193,870            223,484
LONG-TERM ASSETS:
Long-term restricted cash                                 117                124
Severance pay funds                                       6,425              6,831
Deferred taxes                                            18,291             18,455
Operating lease right-of-use assets                       6,353              5,211
Other long term receivables                               9,699              10,156
Total long-term assets                                    40,885             40,777
PROPERTY AND EQUIPMENT, NET                               78,781             82,584
INTANGIBLE ASSETS, NET                                    1,302              1,523
GOODWILL                                                  43,468             43,468
TOTAL ASSETS                                          $   358,306       $    391,836
GILAT SATELLITE NETWORKS LTD.
CONSOLIDATED BALANCE SHEETS (Cont.)
U.S. dollars in thousands
                                                      June 30,          December 31,
                                                          2020               2019
                                                      Unaudited         Audited
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Current maturities of long-term loans                 $   4,000         $    4,096
Trade payables                                            20,129             20,725
Accrued expenses                                          48,194             54,676
Advances from customers and deferred revenues             23,124             27,220
Operating lease liabilities                               2,145              1,977
Other current liabilities                                 10,552             12,261
Total current liabilities                                 108,144            120,955
LONG-TERM LIABILITIES:
Long-term loans, net of current maturities                -                  4,000
Accrued severance pay                                     6,681              7,061
Long-term advances from customers                         1,180              2,866
Operating lease liabilities                               4,153              3,258
Other long-term liabilities                               1,218              108
Total long-term liabilities                               13,232             17,293
SHAREHOLDERS' EQUITY:
Share capital - ordinary shares of NIS 0.2 par value      2,644              2,643
Additional paid-in capital                                928,054            927,348
Accumulated other comprehensive loss                      (6,433   )         (5,048   )
Accumulated deficit                                       (687,335 )         (671,355 )
Total shareholders' equity                                236,930            253,588
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY            $   358,306       $    391,836
GILAT SATELLITE NETWORKS LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
                                                                                            Six months ended              Three months ended
                                                                                            June 30,                      June 30,
                                                                                               2020           2019           2020          2019
                                                                                            Unaudited                     Unaudited
Cash flows from operating activities:
Net income (loss)                                                                           $  (15,980 )   $  6,229       $  (4,225 )   $  3,405
Adjustments required to reconcile net income to net cash provided by operating activities:
Depreciation and amortization                                                                  5,271          5,681          2,667         2,859
Capital loss from disposal of property and equipment                                           23             -              56            -
Stock-based compensation of options                                                            707            1,293          284           422
Accrued severance pay, net                                                                     26             382            (17    )      97
Deferred income taxes, net                                                                     140            1,385          (494   )      702
Decrease (increase) in trade receivables, net                                                  18,364         2,506          4,757         (5,325  )
Decrease (increase) in contract assets                                                         (8,362  )      (232    )      (3,511 )      198
Decrease (increase) in other assets (including short-term, long-term and deferred charges)     6,710          (29     )      5,037         50
Decrease (increase) in inventories                                                             (5,698  )      (6,137  )      937           (2,478  )
Increase (decrease) in trade payables                                                          (510    )      3,933          (2,885 )      4,855
Decrease in accrued expenses                                                                   (5,809  )      (7,076  )      (4,157 )      (4,907  )
Decrease in advance from customers                                                             (5,725  )      (8,405  )      (2,898 )      (5,318  )
Increase (decrease) in current and non current liabilities                                     685            (1,950  )      (2,126 )      (2,813  )
Net cash used in operating activities                                                          (10,158 )      (2,420  )      (6,575 )      (8,253  )
Cash flows from investing activities:
Purchase of property and equipment                                                             (1,879  )      (3,587  )      (928   )      (1,573  )
Net cash used in investing activities                                                          (1,879  )      (3,587  )      (928   )      (1,573  )
Cash flows from financing activities:
Exercise of stock options                                                                      -              375            -             37
Dividend payment                                                                               -              (24,864 )      -             (24,864 )
Repayment of long-term loans                                                                   (4,096  )      (4,231  )      -             (108    )
Net cash used in financing activities                                                          (4,096  )      (28,720 )      -             (24,935 )
Effect of exchange rate changes on cash, cash equivalents and restricted cash                  (539    )      21             156           (76     )
Decrease in cash, cash equivalents and restricted cash                                         (16,672 )      (34,706 )      (7,347 )      (34,837 )
Cash, cash equivalents and restricted cash at the beginning of the period                      101,969        104,204        92,644        104,335
Cash, cash equivalents and restricted cash at the end of the period                         $  85,297      $  69,498      $  85,297     $  69,498

https://ml.globenewswire.com/media/2e6174d6-e001-4197-8b1d-eed70741b4b5/small/gilat-satellite-networks-logo.jpg

comtex tracking

Earnings Calendar and Events Data provided by |Terms of Use| © 2020 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2020. All rights reserved.