Gilat reports continued strong growth in profitability in Q2 2018

Gilat Satellite Networks Ltd. has reported its results for the second quarter ended June 30, 2018. Revenues for 2QFY18 were USD 66.5 million, compared with USD 66.2 million in 2QFY17. GAAP operating income increased to USD 4.1 million, up 121 percent from 2QFY17. Non-GAAP operating income rose to USD 5.7 million, up 37.1 percent year over year. GAAP net income was USD 2.2 million, or USD 0.04 per diluted share, compared with USD 2.1 million, or USD 0.04 per diluted share, in 2QFY17. Non-GAAP net income was USD 3.7 million, or USD 0.07 per diluted share, versus USD 4.6 million, or USD 0.08 per diluted share, in 2QFY17. Adjusted EBITDA increased 37.6 percent year over year to USD 8.1 million, or 12.2 percent of revenues.

Reiterated management objectives for 2018 are – revenue range between USD 285 million to USD 305 million, GAAP operating income between USD 17 million and USD 21 million, and adjusted EBITDA between USD 30 million and USD 34 million.