Gilat: A poor Q2 as expected; trial vs Comtech over takeover termination to start in October

by Peter B. de Selding

PARIS — Satellite networking hardware and service provider Gilat Satellite Networks Ltd. reported an operating loss for the three months ending June 30 on a 35.8% drop in revenue compared to a year ago.

Israel-based Gilat, whose dispute with Comtech Telecommunications Corp. over Comtech’s termination of a takeover agreement goes to trial in October, blamed continued effects of the Covid-19 pandemic for the quarterly results.

Gilat Interim Chief Executive Adi Sfadia said orders were postponed or delayed but that in recent weeks . . .

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