- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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