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Gilat Receives Over $8 Million Follow-On Order for Support of Low Earth Orbit ConstellationPETAH TIKVA, Israel, June 06, 2022 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today it received an over $8 million dollar follow-on order for support of gateways of a Low Earth Orbit (LEO) constellation. Gilat’s subsidiary, Wavestream, was chosen as the sole provider to supply Gateway Solid State Power Amplifiers (SSPAs) to a leading satellite operator to support the LEO constellation gateways. The order is above and beyond last year's previously announced $50 million contract, which is currently being delivered. “Repeat business like this is a testament to our reliable manufacturing ability to meet the stringent requirements of non-geostationary satellite orbit constellations,” said Bob Huffman, General Manager at Wavestream and Senior Vice President at Gilat. “Our manufacturing capacity, product reliability, and experience with high-power Ka-Band SSPA technologies position us well to capture a significant share of the NGSO gateway market.” 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. 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: GK Investor and Public Relations |