Gilat (GILT) has released an update.
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Gilat Satellite Networks Ltd. reported a strong financial performance for the third quarter of 2024, with a 17% year-over-year increase in revenues to $74.6 million. Despite a decrease in GAAP operating income compared to the previous year, the company showed significant growth in non-GAAP operating income and adjusted EBITDA, highlighting its strategic expansion in defense and in-flight connectivity markets. The company’s ongoing acquisition of Stellar Blu Solutions is expected to contribute substantial revenue and enhance its market position.
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