[05-11-10] Gilat Satellite Networks has seen net profits rise but revenues fall in the first quarter, according to the company’s first quarter results issued May 11.
The company reported net profits for the three months of 2010 of $600,000, compared to $200,000 reported in the first quarter in 2009. However, Gilat’s revenues fell from $60.8 million in 2009 to $57.1 million in the first quarter 2010.
In a statement, Gilat CEO Amiram Levinberg said the company hopes its recent acquisition of Raysat Antenna Systems will be a catalyst for a brighter future as Gilat looks to perform better in the military and defense sectors.
Gilat Sees Revenues Fall, but Profits Rise
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