FORM 6 – K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report on Foreign Issuer

Pursuant to Rule 13a – 16 or 15d – 16
of the Securities Exchange Act of 1934

For the Month of February, 2019

Gilat Satellite Networks Ltd.
(Translation of Registrant’s Name into English)

Gilat House, Yegia Kapayim Street
Daniv Park, Kiryat Arye, Petah Tikva, Israel
(Address of Principal Corporate Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  ☒ Form 40-F ☐

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐   No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):   N/A


Attached hereto is Registrant’s IR presentation as posted on Registrant’s website.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
Gilat Satellite Networks Ltd.
  
 
(Registrant)
  
     
Dated February 13, 2019
By: /s/ Yael Shofar
  
 
Yael Shofar
General Counsel
 

Page 2 of 2
 Gilat satellite NetworksCompany Overview  February 2019  NASDAQ, TASE: GILT 
 
 Forward Looking Statements Disclaimer  Certain statements made in this presentation that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat's products, inability to obtain financing and/or timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with Gilat's international operations and its location in Israel. Gilat undertakes no obligation to update or revise any forward-looking statements for any reason. For additional information regarding these and other risks and uncertainties associated with Gilat's business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.Unaudited/Non-GAAP Financial MeasuresThis presentation includes financial data that is not audited and financial data that was not prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). Non-GAAP financial measures appearing in this presentation consist of GAAP financial measures adjusted to exclude, non cash share-based compensation expenses, impairment of goodwill and long lived assets, amortization of acquired intangible assets, restructuring, trade secrets litigation expenses, tax expenses under amnesty program, deferred tax benefit that was recorded for the first time and other non-recurring expenses and net income or loss from discontinued operations. Gilat believes these non-GAAP financial measures provide consistent and comparable measures to help investors understand Gilat’s current and future operating performance. However, our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read in conjunction with Gilat’s consolidated financial statements prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies. 
 
 Gilat – Boundless Communications          MOBILITY  MOBILE  Air  Land  Enterprise  Consumer  4G/5G  Sea  MOST ADVANCED TECHNOLOGYTerrestrial-grade user experience  END-TO-END SERVICEMost stringent service levels  GLOBAL PRESENCE20 sales offices  BROADBAND  2G/3G  Established 1987  NASDAQ / TASE: GILT   ~1,100 employees 
 
 Global Footprint – Expanding a Diverse Customer Base  300+ customers  500+ Networks  90+ countries    SYSTEM INTEGRATORS    GOVERNMENTS    SATELLITE OPERATORS    CARRIERS & SERVICE PROVIDERS 
 
 Booming capacity – GEO + LEO/MEO    Global HTS Bandwidth Supply, Demand and Price per Mbps  $/Mbps/Month  Gbps    ~16 times today        Source: Euroconsult, NSR, 2017      ABUNDANCE OF CAPACITY UNLOCKS NEW MARKETS         
 
 Affordable Internet Everywhere is Becoming a “Birth Right”    WE ALL WANT BROADBAND Everywhere. Anytime. Affordable.      WE ALL WANT BROADBAND Everywhere. Anytime. Affordable.      Mobility    Broadband    Mobile  SATELLITE DELIVERS Affordable, Plentiful, Terrestrial-grade User Experience 
 
 Accelerating Connectivity – Growth Areas  Mobile    Cellular Backhaul,Network Resilience, Public Safety  Mobility        In the Air, at Sea, on the Ground  Broadband    Broadband to the Unserved and Underserved 
 
 Mobile 
 
 Leading the Fast Growing Satellite Backhaul Market      $790M(2017)  $3,300M(2027)  Satellite Backhaul Market  “Gilat continues to unlock new opportunities and capture a bigger share of the pie…”  Source: NSR, April 2018 
 
     Global End-to-End Services  Affordable true LTE Backhaul  Enabling “Terrestrial-grade” User Experience   Delivering “terrestrial-grade” User Experience Rapid network deploymentExpanding coverage to: rural, highways, islands, tourist centers, campuses, metro-edge and metro areasReplacing leased lines and upgrading T1s/E1s  Delivering comprehensive servicesExpertise in integrating ground and sat networks Experience with Tier-1 MNOs worldwideGenerating recurring revenues 
 
 World’s Fastest Broadband for LTE Backhaul    11 | Proprietary and Confidential 
 
 12 | Proprietary and Confidential  METRO AREA - A LIVE EXMPLE         
 
 Mobility 
 
 MOBILITY – Superior Passenger Experience Drives Demand  Satellite Broadband Connected Aircrafts      5,200(2017)  27,800(2027)  Source: EuroConsult, July 2018  Commercial Aircrafts      500(2017)  8,800(2027)  Source: EuroConsult, July 2018  Business Aircrafts 
 
   One Network  Delivering Superior Passenger Experience    >2,200 aircrafts    World’s Fastest SpeedIn-Flight Connectivity  Global Coverage  Over 25 Satellites  15 Teleports 
 
 Leading Performance Solutionsfor All In-Flight Connectivity Modules  Ku and KaTransceivers  Dual BandKu/Ka Antenna  400MbpsModem    ESA/PAA      16 | Proprietary and Confidential 
 
 Broadband 
 
 Delivering Core Infrastructure for National Broadband     Broadband to unserved & underserved  Bridging the digital divide Connecting communities and individuals to the world via broadbandInnovating to deliver plentiful affordable Consumer and Enterprise solutions    Gazprom  Providing broadband connectivity acrossRussia over new satellite –Yamal 601 Ka     NBN  Connecting nationwide businesses and enterprises in regional and rural Australia    China Satcom  Extending satellite coverage throughout China with new satellite – CS-18, sole solution to China’s HTS Ka    JSAT  Delivering wide range of mobility and fixed broadband applications in Japan    Large governmental projects in Peru and Colombia   Peru – FITEL projectsA $2B+ program to build terrestrial networks across Peru14 Regional Projects awarded so far – 6 to Gilat (~$548M)~$333M construction revenue ~$215M operational revenue over 10 yearsTarget: Recurring revenues >$50M / year, profitable, starting 2020    ISRO  Boosting broadband connectivity across India’s mainland and islandsover new satellite – ISRO’s GSAT-11 
 
 NGSO       
 
 Constellations and networks are Getting more complex  GEO  MEO  LEO  Multi-satellite  1K-10K/constellation  Multi-orbit  GEO/MEO/LEO  Multi-beam  Thousands per satellite  Multi-band  Ku, Ka, C  MEO 2,000-10,000 km  GEO 35,786 km  LEO500-2,000 km  Next-Gen Technologies Needed – Complex NMSs, Strong Modems, ESA  20 | Proprietary and Confidential 
 
 NGSO is materializing    Opportunity is both baseband as well as ESA antennasIFC demo – Telesat/GEE Maritime connectivity demo – Telesat/Tier-1 Maritime service provider    Gilat involved in a number of them    Several constellations in advanced stages: SpaceX, OneWeb, Telesat, mPower    O3b mPOWER 
 
 5G-ready satellite solution  Service Ubiquity    Service to regions without terrestrial networke.g. rural/remote, public safety, disaster, IoT   Service Continuity    Continuity between terrestrial and satellite networkse.g. aero, maritime, land  Service Scalability    Media servicee.g. global feed, video backhaul 
 
 Financial Indicators and Analysis 
 
 2018 annual Profit and Loss Highlights US$ millions  Revenues$266.4M ($282.8M)(6%)YoY  Gross ProfitGAAP 35% (29%)Non GAAP 36% (31%)  Revenues w/o Terrestrial Infra$241.4M ($204.5M)18% YoY  Mobility RevenuesMainly IFC$97.2M ($88.4M)10% YoY  OPEXGAAP $72.8M ($71.6M)Non GAAP $71.9M ($68.8M)  Operating ProfitGAAP $21.3M ($10.9M)Non GAAP $25.1M ($18.5M)  Net ProfitGAAP $18.4M ($6.8M)Non GAAP $18.2M ($14.6M)  Operating Margin GAAP 8% (4%)Non GAAP 9% (7%)  Adjusted EBITDA$35.2M ($26.2M)34% YoY  * 2018/ (2017)  Fixed Networks Revenues including CBH$144.2M ($116.1M)24% YoY 
 
 annual Profit and Loss HighlightsUS$ millions, except per share data   * Include tax amnesty, goodwill impairment, restructuring cost and trade secrets litigation expenses (income)** Adjustments reflect the effect of non-cash stock based compensation as per ASC 718, amortization of intangible assets related to shares acquisition transactions, impairments, restructuring costs, trade secrets litigation expenses (income), tax expense under amnesty program and initial recognition of deferred tax asset with respect to carry-forward losses  GAAP  2016  2017  2018  Revenues  279.6  282.8  266.4  Gross Profit  75.5  82.5  94.0  Gross Margin  27%  29%  35%  R&D, net  24.9  28.0  33.0  S&M  23.4  23.8  22.7  G&A  22.0  18.5  17.2  Other expenses (income)*  4.4  1.3  (0.2)  Operating income  0.8  10.9  21.3  Net income (loss)  (5.3)  6.8  18.4  Diluted EPS  (0.10)  0.12  0.33  Non-GAAP**        Gross Margin  29%  31%  36%  Operating Income  11.7  18.5  25.1  Net income  5.6  14.6  18.2  Adjusted EBITDA  19.2  26.2  35.2 
 
 2019 guidelines and outlook – increased profitability US$ millions  Revenues$275M-$295M ($266.4M)3%-11% YoY  >60%of 2019 revenues from current backlog  Revenues w/o Terrestrial Infra$252M-$265M ($241.4M)4%-10% YoY  Mobility RevenuesMainly IFC$101M-$107M ($97.2M)4%-10% YoY  Operating ProfitGAAP $23M-$27M ($21.3M)Non GAAP $27M-$31M ($25.1M)  Operating Margin GAAP 9% (8%)Non GAAP 11% (9%)  Adjusted EBITDA$38M-$42M ($35.2M)8%-19% YoY  * Guidance 2019 / (Actual 2018)  Fixed Networks Revenues including CBH$151M-$158M ($144.2M)5%-10% YoY 
 
 Executing Profitable Growth Strategy  Annual Revenues  Adjusted EBITDA  Revenues: $275M - $295MGAAP Operating Profit: $23M - $27M Adjusted EBITDA: $38M - $42M  GAAP Operating Profit  2019 Management Objectives (US$ millions) 
 
 Gilat revenues & terrestrial infrastructure breakdown  US$ millions  $283M  $266M  $275M-$295M 
 
 Annual Revenue per Segment   US$ millions  $283M  $266M  $275M-$295M 
 
 Q4 2018 Profit and Loss Highlights US$ millions  Revenues$69.7M ($82.7M)(16%) YoY  Gross Profit/MarginGAAP $26M – 37% ($25.2M – 31%)Non GAAP $26.3M – 38% ($26.4M – 32%)  Mobility RevenuesMainly IFC$29.6M ($32.6M)  OPEXGAAP $18.5M ($19.6M)Non GAAP $18.4M ($19.4M)  Operating Profit/MarginGAAP $7.5M – 11% ($5.6M – 7%)Non GAAP $7.9M – 11% ($7.0M – 8%)  Net ProfitGAAP $5.3M ($3.4M)Non GAAP $5.7M ($4.7M)  Adjusted EBITDA$10.5M ($9.0M)  Fixed Networks Revenues$35.4M ($34.7M)  Revenues w/o Terrestrial Infrastructure$65.0M ($67.3M)  * Q4-18 (Q4-17) 
 
 Quarterly Profit and Loss Highlights US$ millions, except per share data  GAAP  Q4 17  Q1 18  Q2 18  Q3 18  Q4 18  Revenues  82.7  67.4  66.5  62.8  69.7  Gross Profit  25.2  21.4  22.4  24.2  26.0  Gross Margin  31%  32%  34%  39%  37%  R&D, net  8.2  8.0  7.9  8.2  8.9  S&M  6.6  5.4  6.3  5.5  5.5  G&A  5.0  4.3  4.1  4.6  4.3  Other expenses (income)*  (0.2)  -  -  -  (0.2)  Operating income  5.6  3.7  4.1  6.0  7.5  Net income  3.4  2.3  2.2  8.7  5.3  Diluted EPS  0.06  0.04  0.04  0.16  0.09  Non-GAAP**            Gross Margin  32%  34%  36%  39%  38%  Operating Income  7.0  5.1  5.7  6.5  7.9  Net income  4.7  3.8  3.7  5.1  5.7  Adjusted EBITDA  9.0  7.5  8.1  9.1  10.5   * Include tax amnesty and trade secrets litigation expenses (income)** Adjustments reflect the effect of non-cash stock based compensation as per ASC 718, amortization of intangible assets related to shares acquisition transactions, impairments, restructuring costs, trade secrets litigation expenses (income), tax expense under amnesty program and initial recognition of deferred tax asset with respect to carry-forward losses 
 
 Balance Sheet HighlightsUS$ millions  1) Including cash and cash equivalents, restricted cash and net of short term bank credits2) DSO calculation excludes Terrestrial Infrastructure Projects Segment3) Q4-18 (Q3-18)  Cash and equivalents1$104.2 ($103.3)  DSO271 days (73 days)  Total Assets$394.7 ($391.3)  Cash From Operation$4.0M increase($9.6 increase)  Total Debt$12.6 ($12.7)  Shareholders equity$239.1M ($233.5M) 
 
 In Summary – Uniquely Positioned for Unlocking Opportunities  Demand for plentiful affordable broadband, anywhere anytime, is soaring    Product leadership and innovation    Leading in the main growth areas – Mobile Backhaul & IFC Mobility    Oversupply of capacity unlocks new markets    Focused on strategy execution and profitability