Gilat Takes $31.9M Wavestream Hit in Face of Pentagon Uncertainty

摘要

Satellite broadband ground equipment manufacturer Gilat said it will take an impairment charge of $31.9 million on its Wavestream division to account for possible revenue declines as the U.S. Defense Department reduces spending. The charge, which had not been foreseen, caused Petah Tikva, Israel-based Gilat Satellite Networks to report a company-wide loss of $22.3 million for 2012 on revenue of $348.4 million, compared with a loss of $5.9 million for 2011.