Stock Alert: Gilat Satellite Networks Touches New High After Successful ESA Technology Testing

(RTTNews) - Shares of satellite networking technology solutions and services provider Gilat Satellite Networks Ltd. (GILT) are rising more than 21% Monday morning and touched a new high of $12.45.

Friday, Gilat announced that its Electronically Steered Antenna (ESA) has been successfully tested over Inmarsat's Global Xpress (GX) network.

"Gilat's self-pointing antenna logged-on automatically to the GX network, supporting bi-directional real-time communication in both fixed and dynamic antenna positioning modes. Beam steering under the changing elevation and skew angles was done while managing the power spectral density (PSD) threshold, in order to minimize interference with neighboring satellites, in accordance to regulations," the company said.

This is the first time a live demonstration of an ESA terminal was performed on an Inmarsat operational GX satellite.

"Having integrated Gilat's ESA with Inmarsat's G-MODMAN further emphasizes Gilat's ESA leadership and readiness for commercial deployment," said Roni Stoleru, Vice President Antenna Products & Strategy at Gilat.