{"id":85783,"date":"2010-11-19T18:34:32","date_gmt":"2010-11-19T10:34:32","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/gilat-acquisitions-help-offset-u-s-sales-decline\/"},"modified":"2010-11-19T18:34:32","modified_gmt":"2010-11-19T10:34:32","slug":"gilat-acquisitions-help-offset-u-s-sales-decline","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/gilat-acquisitions-help-offset-u-s-sales-decline\/","title":{"rendered":"Gilat Acquisitions Help Offset U.S. Sales Decline"},"content":{"rendered":"

[11-19-10] Gilat Satellite Networks<\/strong> is beginning to reap benefits from acquisitions made during 2010, as Raysat Antenna Systems<\/strong> contributed about $3 million of the $4.7 million in revenue growth Gilat reported in its 2010 third quarter.
\n    Third-quarter sales of $58 million were higher than analysts\u2019 $53.3 million estimate and increased from $51.8 million in the same period a year ago, Gilat announced Nov. 18.
\n    Jim Breen, a research analyst at William & Blair<\/strong>, told Satellite TODAY Insider <\/em>that Gilat\u2019s acquisitions of Raysat and Wavestream Corp.<\/strong> have helped the company offset sales declines in U.S. markets. \u201cAlthough sales in the United States declined, Gilat expects that its acquisition of Wavestream will close by the end of the year, providing accretion for 2011 and penetration into Department of Defense accounts.\u201d
\n    During a conference call, Gilat CEO Amiram Levinberg said while Raysat\u2019s contributions to the company were valuable, Gilat does not to set want unrealistic expectations for Wavestream. \u201cWe expect Wavestream to continue to grow. We think that growth will still be double-digit growth, not as rapid as they used to have in the last two to three years, but still a significant growth \u2014 not further than that,\u201d he said. \u201cWe recognized some revenues from RaySat Antenna Systems this quarter, which was also a reason why this quarter is higher than the previous quarter and also the equivalent quarter in last year.\u201d
\n    Net income during the period stood at $36.2 million, however, Gilat trails its nine-month revenue position in 2009, with revenues at $166.9 million compared to $171.5 million at the same stage last year.
\n    Levinberg added that the company\u2019s current cash balances are now at a suitable level to close the Wavestream acquisition, \u201cbut we don\u2019t want to be left with the minimum cash balances. So we are pursuing different alternatives. There is nothing specific for right now. There are a few alternatives for us. We still have a few weeks or so to determine exactly which route we are going to pick,\u201d he said.<\/p>\n

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[11-19-10] Gilat Satellite Networks is beginning to reap benefits from acquisitions made during 2010, as Raysat Antenna Systems contributed about $3 million of the $4.7 million in revenue growth Gilat reported in its 2010 third quarter.     Third-quarter sales of $58 million were higher than analysts\u2019 $53.3 million estimate and increased from $51.8 million in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-85783","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85783"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=85783"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85783\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=85783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=85783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=85783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}