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Gilat Satellite Climbs Most in 11 Months on Australia Order

May 8 (Bloomberg) -- Gilat Satellite Networks Ltd. advanced the most since June after the Israeli developer of satellite-networking technology received an order that may be valued at as much as $120 million over a five-year period.

The shares increased 7.2 percent to 16.72 shekels at the 4:30 p.m. close in Tel Aviv. U.S.-traded shares climbed 4.7 percent to $4.92 on May 6, while local markets were closed for the weekend.

Gilat will provide a SkyEdge II Very Small Aperture Terminal to Optus Networks Pty Ltd. for the Australian government’s National Broadband Network Co.’s Interim Satellite Service, it said May 6 in a Globe Newswire statement.

To contact the reporter on this story: Susan Lerner in Jerusalem at Slerner2@bloomberg.net.

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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