Gilat Satellite Networks (Nasdaq:GILTF) says it is the lowest bidder in the Colombian government's Compartel II project for a 3,000-site fixed rural satellite telephony network.

That does not mean it will get the project, it added.

Gilat is also the sole bidder for installation and operation of telecenters that will provide Internet connectivity and telephony services in 500 cities and towns throughout Colombia. Again, that does not mean it will win the contract.

Compartel is the program of social telecommunications, financed by the Communications Fund in Colombia.

Gilat says it wants a total subsidy of about $65 million from the Colombian government's total budget of approximately $100 million for both Telecenters and Telephony Compartel projects.

If awarded, the VSAT network is expected to be completed by the fourth quarter of 2003, Gilat said.

Earlier this year, Gilat's bid for the installation and operation of the telecenters was declared as deserted by the previous Colombian administration. Gilat says it will appeal that decision to the new administration on August 21.

Gilat was supposed to publish its financial statement for the second quarter today, but as reported by TheMarker, it has deferred publication by two or three weeks.

The company declined to comment to TheMarker on the delay, but Barry Spielman, director of corporate marketing, told Dow Jones Newswires, "The bottom line is we would like to be in a better position to disclose more information about certain processes that are going on here."

Spielman wouldn't comment to DJ on why Gilat waited until the day before the scheduled release date before announcing the delay, after the story broke in TheMarker.