LOGAN, Utah — Satellite broadband equipment provider Gilat Satellite Networks said it has its board’s approval to use its cash to search for M&A opportunities and so will not be paying a dividend anytime soon.
The company reaffirmed its 2018 growth target and said LTE satellite backhaul and commercial airline in-flight connectivity continue to be growth vectors.
In particular, Gilat said its relationship with in-flight-connectivity (IFC) provider Gogo Inc. continues to grow and has not been affected by Gogo’s repositioning under new management . . .
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