Gilat 1Q Revenue Up 40 Percent Despite Defense Slowdown

摘要

Satellite broadband hardware and service provider Gilat Satellite Networks reported double-digit increases in revenue and operating profit for the three months ending March 31 and said the results came despite a minimal contribution from a new subsidiary focused on the U.S. military space market. Petah Tikva, Israel-based Gilat said Wavestream Corp. of San Dimas, Calif., which Gilat purchased in late 2010 for $130 million, did not contribute as much as foreseen in the first three months of 2011 because of a budget-related slowdown in U.S. Defense Department contracts.