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GILT - Why Gilat Satellite Networks Stock Fell Today
Gilat Satellite Networks Ltd.
Shares of Gilat Satellite Networks (NASDAQ: GILT) tumbled today after the company reported disappointing fourth-quarter 2020 results. The tech stock was down 10.7% at the close on Tuesday.
Fourth-quarter revenue of $42.6 million was down significantly compared to the $78.3 million in sales in the year-ago quarter. Additionally, Gilat posted an adjusted loss per diluted share of $0.03 in the quarter, compared to earnings of $0.16 in the year-ago quarter.