Gilat Satellite Networks Ltd. (NASDAQ:GILT) Q3 2019 Earnings Conference Call - Final Transcript
Nov 19, 2019 • 09:30 am ET
last year. Non-GAAP operating income for the previous quarter was $6.3 million or 10.5% of revenues.
Non-GAAP net income in the third quarter was $6.8 million or $0.12 per diluted share compared to non-GAAP net income of $5.1 million or $0.09 per diluted share in the same quarter last year. Non-GAAP net income for the previous quarter was $4.8 million or $0.09 per diluted share. Adjusted EBITDA for the third quarter of 2019 increased to $10.1 million or 15.9% of revenues compared to adjusted EBITDA of $9.1 million or 14.5% of revenues in the same quarter last year.
Adjusted EBITDA in the previous quarter was $8.9 million or 14.9% of revenues. As of September 30, 2019, our total cash and equivalent including restricted cash were $84.2 million, an increase of $14.7 million from the previous quarter. During the quarter, we generated about $17.2 million from operating activities, offset in part by capex spending of about $2.1 million. DSOs, which include our Fixed Networks and Mobility Solution segments, and exclude receivables and revenues of our Terrestrial Infrastructure Project segment, increased to 86 days compared to 83 days in the previous quarter. Our shareholders equity at the end of the quarter totaled about $228.6 million compared with $223.2 million at the end of the previous quarter.
That concludes our review. Thank you for your attention. I would like now to open the call for questions. Operator, please?