|Looks like I'm on my own then? Oh well.
|90p offered? 8% premium to previous price? This is outrageous.. now that we are in profit at last, shareholders who have stuck with them through the bad times are getting turfed out on their ears. Well they're not having mine.
|A remarkable quiet thread considering the impressive rise in the share price.
Still, it is a very tightly held stock.
Good luck all.|
|this is ticking up every day at the moment. Does anyone know whether any brokers cover this share?|
|nice tick up again, based on Q4 results and forecast this really does look very under valued|
|I should have looked a bit harder. Well done to holders.|
the big fella
|the big fella
seem u were wrong
they were as cheap as chips.................
2.5 times in 10 months................|
|Nice quiet thread with a stock holding up well in the small cap area.
Good luck all.|
|it would appear profit has increased during Q4 to $303,000, a greatly improved performance over the previous 3 quarters
so, if profits continue as they suggest then possible for $1.2m full year
|I haven't looked in any great detail but PE of 15 looks fully valued. What was / is expected bottom line year on year growth?|
the big fella
|glt made a profit of $558K with exceptional of $300K, so that's $858K
anyone care to give their take.
|two words ............well oversold!!!|
|looking for a pop at the start|
|Splosh! This is the moment when everyone re-reads the statement issued on August 11 and reassesses every word for clues..
Glad I took a totally neutral stance in the opening post ;-o|
|Luckily still watchlist for me, not invested.
Very disappointing statement, they will be having a bad year full stop. Worth looking at for interims 07 IMO.
LEAD, VSC and MWE are my preferred ones in the Israeli tech arena, not sure why the papers are tipping AFS this weekend, LEAD and MWE are far better IMO.|
|Gilat Satcom Limited
11 August 2006
INTERIM RESULTS FOR THE 6 MONTHS ENDED 30 JUNE 2006
Figures in US$000s
.....6m ended 30 Jun '06 ... 6m to 30 June'05 ... Yr to 31Dec'05
Revenues ..........16,760 ....14,191 (+18.1%) ...... 31,751
Gross profit ...... 4,865 .... 4,311 (+12.8%) ........ 9,668
Gross margin ..... 29.0% ..... 30.4% ............... 30.4%
Operating profit... 931 ...... 1,718 (-45.8%) ....... 3,876
Operating margin .. 5.6% .... 12.1% ................ 12.2%
Profit before tax .. 343 ..... 1,360 (-74.8%) ..... 3,501
* financial performance for the 6 months ended 30 June 2006 reflects
investment to re-position the business and establish a solid platform for
* service levels improved with substantially reduced response times and
customer complaints converting into higher client retention
* first order won in Central America
* establishing a local presence in Nigeria
* strong balance sheet following repayment of loans and $4.5 million from
* second half of 2006 will show increased revenues and margins
Amos Lasker, Gilat's CEO commented:
"The review undertaken following my appointment as CEO has demonstrated that
Gilat Satcom is a high quality business with excellent potential. The actions
being taken are designed to establish an operational platform to support further
growth in our customer base, as well as to ensure that we can take full
advantage of the demand for our products and services and to achieve a high
level of profitable growth. We are starting to benefit from these actions which
we expect will result in an acceleration of revenue growth in the second half. "
...significant improvements have been achieved in customer service and
churn and the company expects that the activities being undertaken to penetrate
new markets and win new orders will accelerate revenue growth in the second
half... ..the company is taking steps to strengthen and expand its
position and customer relationships in core markets in Africa. It has also won
its first orders in Latin America and is in the process of completing a
strategic marketing review.
- Revenue for the period grew by 18.1 per cent to $16.8 million (2005: $14.2
million). This increase mainly reflects the impact of the acquisition of IP
Planet Network completed on 29 March 2005.
- The gross margin for the first 6 months of 2006 was 29.6% compared to 30.4% in
the same period last year. The slight decrease was the result of a different
sales mix with an increased proportion during the period coming from sales of
internet connectivity to large customers.
- Operating profit was $0.9 million (2005: $1.7 million) and profit before tax was
$0.3 million (2005: $1.3 million), mainly as the result of the costs associated
with expanding Gilat Satcom's marketing, sales and customer service capabilities
during the period.
- Net debt (bank loans less cash) was $7.5 million at 30 June 2006 compared to
$11.5 million at 31 December 2005. The company has repaid bank loans of $5.7
million during the first six months of 2006 as well as renegotiating the terms
of other bank debt totalling $14.8 million.
- Cash flow from operations for the 6 months was $4.5 million which, together with
cash reserves, was used mainly to repay loans and to buy equipment to support a
facility upgrade following the operational review.
- The company expects that the second half of the year will show increased
revenues and margins as a result of the steps taken during the first half and
following the operational and strategic marketing reviews.
Revenue growth has been achieved across a range of products and services.
Following a new order won in April 2006, Gilat Satcom is the main provider of
broadband internet connectivity to Telekom Kenya, Kenya's national
telecommunications company. The company has established a presence through
resellers in Tanzania, where its first 20 sites are now being implemented, and
continued to expand in Nigeria with a successful promotion resulting in
approximately 80 new VSAT customers to enable broadband internet to smaller
businesses. The company has won orders for data storage solutions in Uganda Cote
d'Ivoire and Zambia, mainly with GSM operators, banks and telcos, as well as
signing voice agreements with large operators in Zambia and South Africa.
The company has successfully entered the Central American market with its first
order this year, worth $400,000 per annum, from a customer in Nicaragua.
Management anticipates that this region will become an important contributor to
The company is in final stages of establishing a subsidiary in Nigeria, in order
to have a local presence and to improve service to customers as well as sales.
In addition, the company is in discussions with various satellite owners for the
purchase of new transponder capacity to serve African markets.
During the period, the company also bought fiber optic cable capacity, to
support a number of African markets, for a minimum period of 10 years at a cost
$1.3 million. This lease has been treated as a financial lease and the company
will pay the consideration over the next two years.
Current trading and outlook
As a result of the actions completed and planned, following the operational and
strategic marketing reviews undertaken, the Board is confident that the company
can sustain strong, profitable growth over the next few years.
FULL REPORT/accounts see http://www.advfn.com/p.php?pid=nmona&article=16454011|
|Been on my watchlist, but not invested yet|
|The Israel connection isn't exactly a plus point at the moment...|
|Okay no problem - will have a little dig around. Though their first quarter figures were the 16/5 - so their 2nd quarter must be due imminently.|
|Not sure there is a GLT update next week, Tole.
Gilat Satellite Networks report next week. Not sure if there is any connection between them and Gilat Satcom.|
|Thanks for that MT.
Thought this would look decent value at circa 80p - plenty of coverage and decent volume going back the last few months too. Though if there is a nasty in their update next week then that blows all that out the window.|
|Whereas the AIM-listed Gilat Satcom (GLT) describes itself thus:
Gilat Satcom was established in 1992 and acquired licenses from the Israeli Minister of Communications to deliver data services to customers in Israel.
In 1997, the Company established its communication support and control center in Petach Tikvah, Israel, providing a comprehensive monitoring and support facility to customers around the world, operating on a 24-hour basis.
In 2000, Gilat Satcom introduced broadband Internet services. Since that time, this product line has become a primary growth engine for the Group which has in excess of 3,000 terminals in more than 40 countries. In June 2002, the Company was acquired by Satcom Systems Ltd. whose shares are traded on the Tel Aviv Stock Exchange. In addition, In 2002, the Group commenced the supply of international VoIP voice services.
Following, in January 2003 Gilat Satcom acquired certain business assets of Israsat and obtained an International Communication License from the Ministry of Communications.
During the first quarter of 2005 the company completed two strategic acquisitions:
GayaCom Ltd., a reseller of mobile satellite services and equipment facilitating the entry of the Group into the growing satellite mobile services market. GayaCom has a non-exclusive distribution agreement with Iridium Satellite LLC to market and sell their equipment and services globally.
IP Planet Network Ltd., a broadband satellite services provider, as a result of which the Company grew and diversified its customer base and consolidated and strengthened its position in certain markets and territories.|
|Somebody has maybe got wind of something nasty in next Monday's quarterly statement from Gilat SN and think it's the same company? (certainly scope for confusion)
PETAH TIKVA, Israel--(BUSINESS WIRE)--Aug. 7, 2006--Gilat Satellite Networks Ltd. (Nasdaq:GILT) today announced that it will release its second quarter 2006 financial results on Monday, August 14, 2006.
Following the earnings announcement, Gilat will host a conference call at 9:00 AM EDT. In order to ensure audio access, participants from the U.S. or Canada should dial in at 877-848-4519 and international/local participants should dial in at 706-634-2468. You may also access the presentation through the Company's website at www.gilat.com.
A replay of the call will be available beginning at approximately 12:00 PM EDT, August 14, 2006, until August 21, 2006, at 11:59 PM. To listen to the replay, for U.S./Canada participants, please call 800-642-1687, for international/local participants, please call 706-645-9291. To access the live call and the replay, users will need to enter the following code: 3900098. The call will be archived for a period of 30 days on the Company's website.
About Gilat Satellite Networks Ltd.
Gilat Satellite Networks Ltd. (Nasdaq:GILT) is a leading provider of products and services for satellite-based communications networks. The Company operates under three business units: (i) Gilat Network Systems ("GNS"), which is a provider of network systems and associated professional services to service providers and operators worldwide; (ii) Spacenet Inc., which provides managed services in North America for businesses and governments through its Connexstar service brand and for consumers through its StarBand service brand; (iii) Spacenet Rural Communications, which offers rural telephony and Internet access solutions to remote areas primarily in Latin America.
Gilat was founded in 1987 and has shipped over 600,000 Very Small Aperture Terminals (VSATs) to more than 85 countries across six continents. Gilat's headquarters is located in Petah Tikva, Israel. The Company has 14 local offices and three service facilities worldwide. Gilat markets the SkyEdge (TM) Product Family which includes the SkyEdge(TM) Pro, SkyEdge(TM) IP, SkyEdge(TM) Call, SkyEdge(TM) DVB-RCS and SkyEdge(TM) Gateway. In addition, the Company markets numerous other legacy products.
Visit Gilat at www.gilat.com|