Gilat Wins Multi-Million Dollar Order for Aviation Connectivity Amplifiers
GILT has more than doubled off its 52-week low of $5.3.
Summary
Gilat Satellite Networks has secured a new multi-million dollar order from a leading In-Flight Connectivity (IFC) Integrator. This order is for Gilat Wavestream's AeroStream Ka-band Wideband amplifiers, which will support the deployment of connectivity solutions on commercial aviation aircraft, with deliveries expected over the next 24 months. This positive development indicates continued demand for Gilat's specialized aviation connectivity products, following a previous $39 million order for different IFC terminals announced on February 24th. While the exact value of this new "multi-million dollar" order is not disclosed, it adds to the company's revenue pipeline and reinforces its position in the growing in-flight connectivity market. Traders should monitor future announcements for specific financial details of such orders and their impact on overall revenue guidance.
At the time of this announcement, GILT was trading at $16.93 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $5.30 to $20.38. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.