GILT - Gilat jumps after winning a million-dollar contract from Peru

Capping off a 5-day gain of ~33.0%, Gilat Satellite Networks (GILT) surged ~12.3% on Friday after the company announced that a government corporation in Peru awarded it a multi-million-dollar contract to provide mission-critical telecom systems for the country’s airports.Under the deal with CORPAC, the Peruvian Corporation of Commercial Airports and Aviation, Gilat will design, supply, implement, and commission equipment for Communication Navigation and Surveillance (‘CNS’) services for 29 airports in Peru.As the country expands the business operations in the country, the award to supply the high-availability communication system ‘will open the door to additional large deals’, commented Arieh Rohrstock, General Manager Gilat Peru.Gilt has risen ~186.1% since the termination of its merger agreement with Comtech.

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Gilat jumps after winning a million-dollar contract from Peru