- Gilat Satellite Networks Ltd GILT reported third-quarter FY22 revenue growth of 21% year-on-year to $60.4 million, missing the consensus of $67.2 million.
- Non-GAAP operating income was $4.4 million versus $1.3 million a year ago.
- Non-GAAP EPS of $0.06 beat the consensus of $0.03.
- Gilat held $69.9 million in cash and equivalents.
- Adi Sfadia, Gilat's CEO, commented: "We are very pleased with our strong third-quarter results showing continued year-over-year growth and a recovery in all our markets, in particular IFC."
- Outlook: Gilat cut its FY22 revenue forecast from $245 million - $265 million to $240 million - $245 million (consensus $254.1 million).
- Price Action: GILT shares traded higher by 1.96% at $5.97 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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