U.S. markets closed

Capstone Turbine Corporation (CPST)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
Add to watchlist
7.80+0.31 (+4.14%)
At close: 1:00PM EST
Full screen
Loading interactive chart...
  • United States Government Awards Gilat Additional Multi-Million-Dollar Contract for Military Communications Program
    GlobeNewswire

    United States Government Awards Gilat Additional Multi-Million-Dollar Contract for Military Communications Program

    Wavestream Ships 5,000th high-power 50W Ka-band block upconverter to military communications program US Government Awards Gilat Additional Multi-Million Dollar Contract Wavestream surpasses shipment of 5,000 units of its 50W Ka-band BUCPETAH TIKVA, Israel, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that its subsidiary Wavestream received a multi-million-dollar order from the United States Government for a military communication program contract. With this award, Wavestream achieves an industry record shipment milestone by surpassing 5,000 units of its high-power 50W Ka-band military Block Upconverter (BUC) to be delivered to this military program. "Wavestream is honored to be the vendor of choice for the US government military communication program and to be reliably supplying its high-power 50W Ka-band BUC for over 14 years. This product is the most widely deployed solid state amplifier built at this power level," said Bob Huffman, Wavestream’s General Manager. "With this order we have surpassed shipment of 5,000 units, a testament to Wavestream’s unmatched production capacity and product longevity of military-grade high-power Ka-Band SSPA/BUCs."About Wavestream Wavestream, a Gilat subsidiary is the industry leader in the design and manufacture of next generation satellite communications high power transceivers for In Flight Connectivity, Ground Mobility and Gateway markets. Since 2001, we provide system integrators with field-proven, high performance Ka, Ku and X band Solid State Power Amplifiers (SSPAs), Block Upconverters (BUCs), Block Down Converters and Transceivers. We design, manufacture and repair our products in-house and have delivered over 40,000 systems in the past 15 years. Wavestream products provide high quality and reliability under the harshest environmental conditions and we are currently certified to ISO 9001:2008 and AS9100D standards. For further details please visit www.wavestream.comAbout Gilat Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With 30 years of experience, we design and manufacture cutting-edge ground segment equipment, and provide comprehensive solutions and end-to-end services, powered by our innovative technology. Delivering high value competitive solutions, our portfolio comprises of a cloud based VSAT network platform, high-speed modems, high performance on-the-move antennas and high efficiency, high power Solid State Amplifiers (SSPA) and Block Upconverters (BUC).Gilat’s comprehensive solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense and public safety, all while meeting the most stringent service level requirements. Gilat controlling shareholders are the FIMI Private Equity Funds. For more information, please visit: www.gilat.comCertain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, risks associated with the outbreak and global spread of the coronavirus (COVID-19) pandemic; changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.Contact: Gilat Satellite Networks Doreet Oren, Director Corporate Communications DoreetO@gilat.com GK Investor and Public Relations Ehud Helft, Managing Partner ehud@gkir.comA photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/167b6be2-4ec2-4a53-a735-2d33095e2ab2