GILAT SATELLITE NETWORKS Announces Q2 FY2023 Earnings Results for June 30 2023
August 12, 2023
🌥️Earnings Overview
On August 8 2023, GILAT SATELLITE NETWORKS ($NASDAQ:GILT) released their earnings results for the second quarter of fiscal year 2023 (ending June 30 2023). Total revenue for the quarter was USD 67.6 million, a growth of 21.9% compared to the year prior. Net income was also up dramatically, climbing to USD 4.3 million from 0.5 million in the same quarter of the prior year.
Share Price
On Tuesday, GILAT SATELLITE NETWORKS announced their earnings results for the second quarter of fiscal year 2023, ending June 30th 2023. The stock opened at $6.7 and closed at $7.0, representing an 11.4% increase from the previous closing price of $6.3. This significant jump in stock price suggests that investors are pleased with the company’s performance in the last quarter. GILAT SATELLITE NETWORKS reported strong financial results for the second quarter of fiscal year 2023, outperforming analyst estimates. This impressive growth in the company’s financials is a result of its continued focus on providing reliable connectivity solutions and services across different industries and regions. The company also announced new strategic initiatives such as partnerships with global technology companies to bolster their product offering and expand their customer base. Furthermore, they are investing heavily in research and development in order to develop innovative products and services that will help them stay ahead of the competition. Overall, GILAT SATELLITE NETWORKS has reported strong financial results for the second quarter of fiscal year 2023, with revenue and operating income increasing year-over-year.
Additionally, the company has also announced new partnerships and investments in research and development that should drive future growth for the company. As such, it appears investors are confident in GILAT SATELLITE NETWORKS’ future and its stock price reflects this optimism. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for GILT. More…
| Total Revenues | Net Income | Net Margin |
| 259.53 | 6 | 2.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for GILT. More…
| Operations | Investing | Financing |
| 29.71 | -12.36 | 0 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for GILT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 371.56 | 116.52 | 4.5 |
Key Ratios Snapshot
Some of the financial key ratios for GILT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.5% | 65.0% | 7.4% |
| FCF Margin | ROE | ROA |
| 5.7% | 4.7% | 3.2% |
Analysis
At GoodWhale, we have conducted a thorough analysis of GILAT SATELLITE NETWORKS’s financials. Our Star Chart gave the company a rating of strong in profitability, medium in asset, growth and weak in dividend. With a health score of 8/10 with regard to their cash flows and debt, the company is more than capable of safely riding out any crisis without the risk of bankruptcy. This makes GILAT SATELLITE NETWORKS an attractive investment for value investors looking for stable growth. In addition, income investors may be attracted to GILAT SATELLITE NETWORKS due to its low dividend yield, meaning that the company has more resources to reinvest in its growth. Finally, momentum investors may be interested in GILAT SATELLITE NETWORKS due to its strong performance in profitability and growth. More…
Peers
The company offers a wide range of solutions for broadband, cellular backhaul, enterprise VSAT, and government applications. Gilat has over 25 years of experience in the satellite communications industry and is a trusted partner for some of the world’s largest telecommunications operators, service providers, and enterprises. The company’s main competitors are Sierra Wireless Inc, Proxim Wireless Corp, and Wialan Technologies Inc.
– Sierra Wireless Inc ($TSX:SW)
Sierra Wireless Inc is a global communications company that provides wireless and wired solutions for the Internet of Things (IoT). The company has a market cap of 1.57B as of 2022 and a return on equity of -11.25%. Sierra Wireless offers a wide range of products and solutions that enable people, enterprises, and industries to connect to the Internet of Things. The company’s products and solutions are used in a variety of industries, including automotive, energy, healthcare, industrial, consumer, and enterprise.
– Proxim Wireless Corp ($OTCPK:PRXM)
Proxim Wireless Corp is a leading provider of wireless broadband solutions that enable last mile connectivity. The company has a market cap of 129.32k as of 2022 and a return on equity of -123.32%. Proxim’s solutions are used by service providers, enterprises and government organizations to deliver voice, video and data services. The company’s products include wireless broadband routers, gateways, bridges, indoor and outdoor access points, and subscriber units.
Summary
The stock price moved up on the day the earnings results were released, indicating that investors are pleased with Gilat’s performance and showing confidence in its future. Additional financial indicators such as return on equity, operating margins, and cash flow should be monitored in order to provide a better perspective on the company’s financial health.
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