Gilat Reports Third Quarter Results;
Hires Former Intelsat General President as SIGS CEO
November 17, 2009
Gilat Satellite Networks revenues declined to $54.6 million in the 2009 third quarter from the $65.3 million mark it achieved in the same period of 2008, according to the company's latest financial results, released Nov. 16.
While Gilat's net income increased during the quarter to $2.5 million from a net loss of $500,000 in the 2008 third quarter, the company's nine-month income stands at $1.5 million - well short of the $5.3 million it reported at this time last year.
In a statement, Gilat CEO Amiram Levinberg said the company is focusing on stabilizing and increasing its cash position, as well as shifting executive management in its Spacenet government solutions division.
"We are pleased to announce today that Susan Miller has joined Spacenet as CEO of Spacenet Integrated Government Solutions (SIGS). SIGS will focus on expanding our reach to new customers including the Department of Defense, Homeland Security, the Intelligence community and government related agencies," said Levinberg.
Miller previously served as president and chairman of the board for Intelsat General.