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Gilat Received $2 Million in Orders for Support of Low Earth Orbit ConstellationPETAH TIKVA, Israel, July 15, 2021 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that it received additional orders of $2 million for support of gateways of Low Earth Orbit (LEO) constellations. The orders were received as part of the previously announced contract. Gilat's subsidiary, Wavestream, was chosen as the vendor of choice to supply Gateway Solid State Power Amplifiers (SSPAs) to a leading satellite operator to support the LEO constellation gateways. Wavestream is proceeding according to plan with delivery of orders for its Gateway-Class PowerStream 160Ka SSPAs, designed specifically for networks using wide bandwidth uplinks and high order modulation schemes. Wavestream's SSPAs were selected because of their best-in-class technical performance and their unmatched reliability in harsh environments, best addressing the stringent requirements of Non-Geostationary Satellite Orbit (NGSO) constellations installed in remote locations. The high-volume manufacturing of these highly-complex Gateway-class SSPAs is proceeding at an unprecedented production rate, with orders now exceeding 800 Gateway-Class SSPAs with all deliveries expected in the next 12 months. About Wavestream About Gilat Gilat’s comprehensive solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense and public safety, all while meeting the most stringent service level requirements. Gilat controlling shareholders are the FIMI Private Equity Funds. For more information, please visit: www.gilat.com Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, risks associated with the outbreak and global spread of the coronavirus (COVID-19) pandemic; changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason. Contact: |