PETAH TIKVA, Israel (AP) _ Gilat Satellite Networks Ltd. (GILT) on Tuesday reported third-quarter net income of $2.1 million, after reporting a loss in the same period a year earlier.
The Petah Tikva, Israel-based company said it had net income of 4 cents per share. Earnings, adjusted for amortization costs and stock option expense, were 7 cents per share.
The satellite broadband communications company posted revenue of $69.9 million in the period.
Gilat shares have increased 50 percent since the beginning of the year. The stock has risen 77 percent in the last 12 months.
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