Regulatory Filings • Aug 11, 2016
Regulatory Filings
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Washington, D.C. 20549
Report on Foreign Issuer
Pursuant to Rule 13a – 16 or 15d – 16 of the Securities Exchange Act of 1934
For the Month of August, 2016
(Translation of Registrant's Name into English)
Gilat House, Yegia Kapayim Street Daniv Park, Kiryat Arye, Petah Tikva, Israel (Address of Principal Corporate Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2 (b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
Attached hereto is the Registrant's IR presentation, which supersedes the presentation filed by Registrant on February 22, 2016.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated August 11, 2016 By: /s/ Yael Shofar
Gilat Satellite Networks Ltd. (Registrant)
Yael Shofar General Counsel
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August 2016

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Certain statements made in this presentation that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat's products, inability to obtain financing and/or timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with Gilat's international operations and its location in Israel. We undertake no obligation to update or revise any forwardlooking statements for any reason. For additional information regarding these and other risks and uncertainties associated with Gilat's business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.







Source: Euroconsult March 2016
Satellite delivers significant volumes, terrestrial-grade user experience and economies

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Revenue to be added in the next 10 years to the combined CPE and Service revenues:




Source: NSR 2015
Source: Euroconsult 2015
Market forecasted to grow and generate \$4B in retail & wholesale revenues by the end of 2024 (Source: NSR)



Capricorn



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| GAAP | Q2 15 | Q3 15 | Q4 15 | Q1 16 | Q2 16 |
|---|---|---|---|---|---|
| Revenues | 44.3 | 40.3 | 67.7 | 52.7 | 67.9 |
| Gross Profit | 11.1 | 9.5 | 10.4 | 12.4 | 15.2 |
| Gross Margin | 25% | 24% | 15% | 24% | 22% |
| R&D net | 6.4 | 6.0 | 3.7 | 5.8 | 6.2 |
| S&M | 6.4 | 6.0 | 6.1 | 5.1 | 5.9 |
| G&A | 5.5 | 5.2 | 3.4 | 4.4 | 5.7 |
| Goodwill impairment & restructuring | 21.4 | 0.5 | |||
| Operating loss | (7.2) | (29.1) | (3.4) | (3.0) | (2.5) |
| Net loss | (9.1) | (32.4) | (5.2) | (4.0) | (3.7) |
| Diluted EPS | (0.21) | (0.73) | (0.12) | (0.09) | (0.07) |
| Non GAAP* | |||||
| Gross Margin | 28% | 27% | 32% | 26% | 24% |
| Operating Income (loss) | (5.2) | (5.8) | 8.9 | (1.4) | (0.8) |
| Net income (loss) | (7.1) | (8.9) | 7.0 | (2.4) | (2.0) |
| EBITDA | (2.5) | (3.4) | 11.1 | 0.5 | 1.0 |
* Adjustments reflect the effect of non-cash stock based compensation as per ASC 718, amortization of intangible assets related to shares acquisition transactions, impairments, restructuring costs and net income (loss) from discontinued operations.
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| June 30, 2016 |
December 31, 2015 |
|
|---|---|---|
| Cash Balances1 | 130.1 | 120.9 |
| Total Assets | 369.0 | 370.8 |
| Total Debt2 | 21.8 | 26.0 |
| Shareholders' equity | 206.6 | 178.1 |
1) Including cash and cash equivalents, restricted cash and net of short term bank credits.
2) Includes long term loans and current maturities of long term loans
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Gilat Satellite Networks | [email protected] | www.gilat.com
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