Gilat Satellite Networks (GILT) Reports Q3 EPS of $0.07 on Revenues of $89.94M

Gilat Satellite Networks (NASDAQ: GILT) reported Q3 EPS of $0.07. Revenue for the quarter came in at $69.94 million.

Key Financial Highlights:

• Revenues for Q3 2017 were $69.9 million compared with $66.2 million in Q2 2017 and $78.6 million in Q3 2016.
• Profitability improvement continued in Q3 2017:
  • GAAP operating income improved substantially to $3.3 million in Q3 2017 from $1.9 million in Q2 2017, and compared with an operating loss of $0.2 million in Q3 2016.
  • Non-GAAP operating income grew to $4.9 million from $4.1 million in Q2 2017 and $3.3 million in Q3 2016.
  • The Company achieved GAAP net income of $2.1 million, or $0.04 per diluted share in Q3 2017, in line with $2.1 million, or $0.04 per diluted share, in Q2 2017, and compared with a loss of $2.2 million, or $0.04 per diluted share, in Q3 2016.
  • Non-GAAP net income was $3.6 million, or $0.07 per diluted share in Q3 2017, compared with $4.6 million, or $0.08 per diluted share in Q2 2017, and $1.4 million, or $0.02 per diluted share, in Q3 2016.
  • Adjusted EBITDA increased to $7.1 million, or 10.2% of revenues, compared with $5.9 million, or 8.9% of revenues, in Q2 2017, and $5.2 million, or 6.7% of revenues, in Q3 2016.
• Updated management objectives for 2017: revenue range maintained at between $280 to $290 million, GAAP operating income narrowed to upper range between $9 and $11 million (from $7 to $11 million), and Adjusted EBITDA narrowed to upper range between $24 and $26 million (from $22 to $26 million).

For earnings history and earnings-related data on Gilat Satellite Networks (GILT) click here.

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