GILT FY 2019 Earnings Report — Gilat Satellite Networks Ltd. Revenue & Financial Results | Market Cap Arena

Gilat Satellite Networks Ltd.GILT

FY 2019 Earnings

Reported March 23, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$263M	—	$266M	—	-1.1%
Op. Income	$26M	—	$21M	—	20.1%
Gross Margin	36.4%	—	35.3%	—	1.1pp
Net Margin	13.9%	—	6.9%	—	7.0pp
EPS (Diluted)	$0.65	—	$0.33	—	97.0%
Free Cash Flow	$27M	—	$21M	—	26.1%

Revenue Flow

Item	Amount
REVENUE	$263M
Cost of Revenue	$168M
GROSS PROFIT	$96M
R&D Expenses	$30M
Selling & Marketing	$21M
General & Administrative	$19M
SG&A Expenses	$40M
Other Expenses	$0
Operating Expenses	$70M
Cost & Expenses	$238M
OPERATING INCOME	$26M
Interest Income	$1M
Interest Expense	$4M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$23M
Income Tax Expense	-$14M
Net Income from Continuing Ops	$37M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$37M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$37M
D&A	$11M
EBIT	$24M
EBITDA	$35M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$263M
Cost of Revenue	$168M
GROSS PROFIT	$96M
R&D Expenses	$30M
Selling & Marketing	$21M
General & Administrative	$19M
SG&A Expenses	$40M
Other Expenses	$0
Operating Expenses	$70M
Cost & Expenses	$238M
OPERATING INCOME	$26M
Interest Income	$1M
Interest Expense	$4M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$23M
Income Tax Expense	-$14M
Net Income from Continuing Ops	$37M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$37M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$37M
D&A	$11M
EBIT	$24M
EBITDA	$35M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$37M
Depreciation & Amortization	$11M
Stock-Based Compensation	$2M
Deferred Income Tax	-$13M
Other Non-Cash Items	$810.0K
Change in Working Capital	-$3M
OPERATING CASH FLOW	$35M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$8M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$375.0K
Common Dividends Paid	-$25M
Other Financing Activities	$375.0K
NET CASH FROM FINANCING	-$29M
FREE CASH FLOW	$27M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$75M
Short-Term Investments	$0
Net Receivables	$71M
Inventory	$27M
Other Current Assets	$44M
TOTAL CURRENT ASSETS	$223M
PP&E (Net)	$88M
Goodwill	$43M
Intangible Assets	$2M
Long-Term Investments	$17M
Tax Assets	$18M
Other Non-Current Assets	$124.0K
TOTAL NON-CURRENT ASSETS	$168M
TOTAL ASSETS	$392M
Account Payables	$21M
Short-Term Debt	$4M
Deferred Revenue	$27M
Other Current Liabilities	$55M
TOTAL CURRENT LIABILITIES	$121M
Long-Term Debt	$4M
Deferred Revenue NC	$3M
Deferred Tax Liabilities	$25.0K
Other Non-Current Liabilities	$7M
TOTAL NON-CURRENT LIABILITIES	$17M
TOTAL LIABILITIES	$138M
Common Stock	$3M
Additional Paid-In Capital	$927M
Retained Earnings	-$671M
Treasury Stock	$0
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$254M
Minority Interest	$0
TOTAL EQUITY	$254M
TOTAL LIABILITIES & EQUITY	$392M
Total Debt	$13M
Net Debt	-$61M