Gilat Satellite Networks (GILT) Reports Q1 EPS of $0.07 on Revenues of $67.4M

Gilat Satellite Networks (NASDAQ: GILT) reported Q1 EPS of $0.07. Revenue for the quarter came in at $67.4 million.

Key Financial Highlights:

• Revenues for Q1 2018 totaled $67.4 million, up 5.4% from Q1 2017.
• Company's revised reporting segments: - Q1 2018 Fixed Networks Segment revenues were up 40.0% year over year;- Mobility Solutions Segment revenues increased 39.3% from Q1 2017;- Terrestrial Infrastructure Projects Segment revenues decreased 59.4% from Q1 2017, as the construction phase of the Company\'s project for Fitel in Peru winds down and the project shifts to the operational phase later this year.
• Continued strong profitability: - Q1 2018 GAAP operating income rose to $3.7 million from $0.02 million in Q1 2017. - Q1 2018 Non-GAAP operating income rose to $5.1 million, or 108% year over year. - Q1 2018 GAAP net income was $2.3 million, or $0.04 per diluted share, compared with a GAAP loss of $0.8 million, or $0.01 per diluted share, in Q1 2017. - Q1 2018 non-GAAP net income increased year over year to $3.8 million, or $0.07 per diluted share, versus $1.7 million, or $0.03 per diluted share, in Q1 2017. - Q1 2018 Adjusted EBITDA increased 78% year over year to $7.5 million, or 11.2 % of revenues.
• Reiterated management objectives for 2018: revenue range between $285 million to $305 million (up 1% to 8% from 2017), GAAP operating income of between $17 million and $21 million (up 56% to 93% from 2017), and Adjusted EBITDA between $30 million and $34 million (up 15% to 30% from 2017).

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

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