Gilat Satellite Networks secures $10 million platform orders
- Gilat Satellite Networks secured over $10 million in additional orders for its SkyEdge IV platform from a satellite operator.
- Following the platform order announcement, the company's share price traded lower at $8.80.
- The company expects the new systems to support the continued growth of high-capacity networks for in-flight connectivity.
Gilat Satellite Networks (NASDAQ:GILT) secured over $10 million in additional SkyEdge IV platform orders to expand high-capacity network connectivity.
The transaction expands the deployment of the multi-orbit networking platform to meet rising commercial aviation demand.
The newly ordered hardware systems are scheduled for sequential delivery to the satellite operator over the next 12 months.
The multi-orbit systems will specifically support in-flight applications designed to provide continuous internet access aboard commercial aircraft.
Following the announcement, Gilat Satellite Networks' share price was down at $8.80.
The company stated that the systems will support the continued growth of high-capacity satellite networks serving specialized aerial environments.
The additional purchase order builds on the established strategy to supply specialized hardware solutions for global satellite operators.
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