Antebi concluded, "Looking forward into 2013, we will continue to focus on achieving revenue targets, increased profitability and improved cash generation. Our management objectives for 2013 are to generate revenues in the range of $350 million to $360 million with EBITDA margins of 9%, similar to what we achieved in 2012."

Key Recent Announcements:
  • Gilat's Spacenet Awarded Multi-Year Contract with One of World's Leading Delivery Service Organizations;
  • Gilat Awarded Premier VSAT Vendor for Mexican Government New Broadband Connectivity Initiative;
  • Gilat's Wavestream Wins Contract with Honeywell for In-flight Connectivity;
  • Gilat Peru Wins $9.6m Contract with Banco de la Nacion to Provide Satellite Connectivity;
  • Gilat and Huawei Partnering to Deliver Cellular Backhaul Solution to a SE Asian MNO;
  • Gilat Expands Military Customer Portfolio with Southeast Asian Navy Contract;
  • Gilat Announces the Release of the Wavestream Ku-Band Matchbox Mini BUC;
  • Gilat's Wavestream Delivering Airborne Transceivers to TECOM.

Conference Call and Webcast Details:

Gilat management will host a conference call today at 14:30 GMT/ 09:30 EST/ 16:30 IST (Israel Standard Time) to discuss the results. International participants are invited to access the call at (972) 3-918-0609, and US-based participants are invited to access the call by dialing (888) 668-9141. A replay of the conference call will be available beginning at approximately 17:00 GMT/ 12:00 EST/ 19:00 IST today, until 17:00 GMT/ 12:00 EST/ 19:00 IST February 15, 2013. International participants are invited to access the replay at (972) 3-925-5900 and US-based participants are invited to access the replay by dialing (888) 295-2634. A replay of the call may also be accessed as a webcast via Gilat's website at www.gilat.com and will be archived for 30 days.

Notes:

(1) The attached summary financial statements were prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). The attached summary financial statements are unaudited. To supplement the consolidated financial information and statements presented in accordance with GAAP, the Company presents Gilat's EBITDA before the impact of non-cash share-based payment charges, depreciation and amortization, other income and other costs related to acquisition transactions. Non-GAAP presentations of net income, EBITDA and earnings per share are provided to enhance the understanding of the Company's historical financial performance and comparability between periods.

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