Gilat Clocks 58% Revenue Growth In Q4 Backed By Fixed Networks, Mobility Solutions Growth

Gilat Satellite Networks Ltd GILT reported fourth-quarter FY21 revenue growth of 58% year-on-year to $67.3 million, beating the consensus of $63.94 million.
Segments: Fixed Networks revenue rose 47.5% Y/Y to $37 million, Mobility Solutions revenue grew 112.6% Y/Y to $25 million, and Terrestrial Infrastructure Projects revenue declined 8.7% Y/Y to $5.3 million.
Non-GAAP operating income was $6.8 million.
Non-GAAP EPS of $0.10 beat the consensus of $0.05.
Gilat held $84.5 million in cash and equivalents and generated $5.2 million in operating cash flow.
Outlook: Gilat sees FY22 revenue of $245 million - $265 million against the consensus of $258.71 million.
Price Action: GILT shares traded higher by 5.74% at $8.47 in the premarket on the last check Tuesday.