Gilat expands in Mongolia

By Shiri Habib Valdhorn, Globes

Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) will provide Mongolian telecommunications service provider Incomnet with a SkyEdge broadband satellite communications network to serve end users throughout the country. The company did not disclose the size of the contract.
Incomnet has been a Gilat customer for seven years. The new VSAT network will provide services in rural areas under Incomnet’s universal service obligations.
Gilat will publish its financial report for the first quarter on Thursday. Analysts predict that it will report earnings per share of $0.11 on $71.2 million revenue. A US-Israeli investment group has bought the company for $475 million and will delist it from trading when the sale is closed. The share rose 0.4% in early trading on Nasdaq today to $10.68, giving a market cap of $424 million.


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