Gilat Wins $32M+ U.S. Defense Order for Multi-Band DKET Systems
GILT is trading near its 52-week low of $9.645 (5.4% above the low).
Summary
Gilat DataPath received an order valued at more than $32 million from the U.S. Department of War for DKET systems operating across Ku, Ka, and X-band networks, with deliveries over the next 12 months. The order is for transportable U.S. defense communications systems. This expands Gilat's defense backlog and reinforces its role in mission-critical U.S. communications programs. The order follows a $43M Sidewinder ESA order in June and an $11M defense connectivity order in July, showing consistent defense demand. The award is material relative to Gilat's ~$766M market cap and adds to a growing defense revenue stream. Watch for further defense order announcements as the company integrates the Comtech satellite communications acquisition.
At the time of this announcement, GILT was trading at $10.17 on NASDAQ in the Technology sector, with a market capitalization of approximately $765.7M. The 52-week trading range was $9.65 to $20.93. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.