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Gilat posts 3Q profit

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GILT at https://www.zacks.com/ap/GILT