Gilat Second-Quarter Revenue Rises 17% to $122.7 Million

Gilat Satellite Networks reported second-quarter revenue of $122.7 million on Wednesday, a 17% increase from $105 million a year earlier. The Israeli satellite-communications company said adjusted EBITDA rose 31% to $15.4 million, while non-GAAP net income reached $15.6 million, or 20 cents per diluted share. Commercial activity led the quarter at about $83 million, ahead of the Defense and Peru segments, driven by in-flight connectivity orders. Management reiterated full-year guidance of $500 million to $520 million in revenue and $61 million to $66 million in adjusted EBITDA. The company said its planned acquisition of Comtech remains on track to close by year end.