U.S. Markets closed

Gilat posts 4Q profit

PETAH TIKVA, Israel (AP) _ Gilat Satellite Networks Ltd. (GILT) on Tuesday reported fourth-quarter net income of $4.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Petah Tikva, Israel-based company said it had profit of 8 cents. Earnings, adjusted for amortization costs and stock option expense, were 13 cents per share.

The satellite broadband communications company posted revenue of $80.3 million in the period.

For the year, the company reported that its loss narrowed to $5.3 million, or 10 cents per share. Revenue was reported as $279.6 million.

Gilat shares have risen nearly 3 percent since the beginning of the year. The stock has increased 45 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


Keywords: Gilat Satellite, Earnings Report