By Katherine Hamilton
Shares of Gilat Satellite Networks fell after the company missed expectations for its first-quarter finances and said tariffs were creating challenges.
The stock fell 10% to $6.02 Monday. Shares are down 2% this year.
Global economic uncertainty and changing trade policies are creating new challenges, which are too new to fully assess, Chief Executive Adi Sfadia said during an earnings call Monday. Gilat has shifted raw material sourcing to lower tariff countries and to the U.S., Sfadia said.
The Israeli broadband communications provider swung to a loss of $6 million, or 11 cents a share, compared with a profit of $5 million, or nine cents a share, the year before. Analysts polled by FactSet were expecting a profit of $1.5 million, or three cents a share.
Adjusted earnings per share were three cents, below the six cents projected by analysts.
Gilat's lower operating income was mainly driven by expenses related to acquisitions, management said during a call Monday.
Revenue rose 21% to $92 million, missing analysts' forecast of $100.2 million.
Gilat reaffirmed its full-year outlook.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 19, 2025 11:04 ET (15:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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