Gilat receives multi-million dollar defense order in Europe By Investing.com

Gilat Satellite Networks said it has received a multi-million-dollar defense order in Europe to supply custom SATCOM terminals to a European Ministry of Defense. The company made the announcement from Petach Tikva, Israel, citing a press release, and stated it will deliver the terminals over the next 12 months. The contract covers mission-critical defense communications and aligns with Gilat’s ruggedized, multi-orbit terminal approach for challenging environments. The news arrived as Gilat’s share price showed recent volatility, falling 9.94% over the past week, while still up 72.25% over the past year. Gilat DataPath’s President, Nicole Robinson, said the award reflects continued trust in its field-proven technologies. The company, listed on NASDAQ and TASE, also recently reported a first-quarter earnings beat but a revenue miss, alongside other strategic moves including an acquisition of Comtech’s Space segment for $158 million and a partnership with Boeing.