PETAH TIKVA, Israel, March 20,
2018 /PRNewswire/ -- Gilat Satellite Networks Ltd. (NASDAQ:
GILT) (TASE: GILT), a worldwide leader in satellite networking
technology, solutions and services, today announced it has filed
its Annual Report on Form 20-F containing audited consolidated
financial statements for the year ended December 31, 2017 with the U.S. Securities and
Exchange Commission.
The annual report will be available on the Gilat website
(www.gilat.com). Shareholders may receive a hard copy of the annual
report free of charge upon request.
Additionally, Gilat reported that starting with the first
quarter of 2018, the Company will change its operating segments to
more accurately reflect the Company's management focus,
organizational alignment, customer base and end markets. The
three segments will be Fixed Networks, Mobility Solutions and
Terrestrial Infrastructure Projects. Fixed Networks includes
broadband satellite network equipment including Gilat's cellular
backhaul solutions and services for Telcos, as well as the
Company's products and solutions for enterprises, consumers and
governments worldwide including the Company's network operation and
managed services activity in Peru
and Colombia, which are currently
reported as part of the Services segment. Mobility Solutions
includes satellite communication equipment for on-the-move
satellite communications including Gilat's In-Flight Connectivity
(IFC) activity as well as its defense and homeland security
activities. Terrestrial Infrastructure Projects includes the
Company's construction of the Fitel fiber network in Peru.
The Company believes that these changes are consistent with how the
business is viewed by the chief operating decision maker, and as a
result, the Company's operation can be more effectively
managed.
About 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.com
Certain 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, 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. We undertake no obligation to update
or revise any forward-looking statements for any reason. 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.
Contact:
Gilat Satellite Networks
Doreet Oren
DoreetO@gilat.com
Comm-Partners LLC
June Filingeri, President
203-972-0186
junefil@optonline.net
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SOURCE Gilat Satellite Networks