Gilat Satellite Wins Up To $23 Mln Service Contract For DoD's STT Units; Stock Up

(RTTNews) - Gilat Satellite Networks Ltd. (GILT) Monday announced that Gilat Defense was awarded a contract to provide ongoing sustainment and support services for Satellite Transportable Terminal or STT units deployed worldwide in support of U.S. Department of Defense or DoD customers.

The contract, which includes a base program with options to extend up to five years, is worth up to $23 million.

In pre-market activity on the Nasdaq, Gilat Satellite shares were gaining around 4 percent to trade at $5.74.

Under the deal, the satellite networking technology company's Gilat Defense will deliver critical program management, field services, and technical support, ensuring operational readiness and continued reliability of these vital communication assets.

Nicole Robinson, President of Gilat DataPath, said, "We are proud to receive awards such as this program. It underscores the level of quality and core capability we bring to our customers. This contract reinforces the ongoing critical nature of our SATCOM systems in supporting the U.S. DoDs global operations."