Ladies and gentlemen, thank you for standing by. Welcome to Gilat's Third Quarter 2014 Results Conference Call. All participants are at present in listen-only mode. Following the management’s formal presentation, instructions will be given for the question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded November 18, 2014. I would now like to turn the call over to Brad Nelson of KCSA to read the Safe Harbor statement. Brad, please go ahead.

Good morning and good afternoon everyone. Thank you for joining us today for Gilat's third quarter results conference call. A recording of this call will be available beginning at approximately noon Eastern daylight time today, November 18 until November 20 at noon. Our earnings press release and Web-site provide details on accessing the archived call. Investors are urged to read the forward-looking statements in our earnings releases which state that statements made on this earnings call which are not historical fact may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements, including statements regarding future financial operating results, involve risks, uncertainties and contingencies, many of which are beyond the control of Gilat and which may cause actual results to differ materially from anticipated results. Gilat is under no obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise. We expressly disclaim any obligation to do so. More detailed information about risk factors can be found in our reports filed with the Securities and Exchange Commission. With that said, on the call today is Erez Antebi, Gilat’s Chief Executive Officer, and Yaniv Reinhold, Chief Financial Officer. Erez, please go ahead.

Thank you, Brad, and good day everyone. I would like to begin by providing a high level overview of the third quarter results and then discuss the business. Following my comments, Yaniv will discuss our financial results. I will then summarize and open the call for questions. Our revenues for the third quarter of 2014 were $57.1 million compared to $51.8 million in the third quarter of 2013. The revenue increase is attributable to our Services division and Defense and Mobility division which have performed better than in the comparable quarter of 2013. We are continuing to see the results of the cost-cutting efforts we implemented last year. Also, our Services division and Defense and Mobility division improved their profitability when compared to the comparable quarter of 2013. Consequently, our non-GAAP operating income increased to $3.6 million in the third quarter compared to an operating loss of $0.3 million in the third quarter of 2013. GAAP operating income for the third quarter of 2014 was $1.5 million as compared to an operating loss of $2.4 million in the third quarter of 2013. On a GAAP basis, net income from continuing operations for the quarter was $0.9 million. This is the first time in two years that we have a positive net income. Our EBITDA also improved to $6.4 million in the third quarter compared to $2.3 million in the third quarter of 2013. We believe that the fourth quarter of 2014 will be stronger than the third quarter of this year. We expect to reach higher profitability than our 2014 management objective with EBITDA margins of about 10% for the year, although revenues are expected to be slightly lower at a level of approximately $235 million. Now, onto this quarter's business highlights, let's start with the Commercial Division. Our SkyEdge…

Thanks, Erez, and hello everyone. I would like to remind everyone that our financial results are presented both on a GAAP and non-GAAP basis. The GAAP financial results include the effect of non-cash stock options expenses as per ASC 718, amortization of intangible assets resulting from the purchase price allocation, restructuring costs and net income or loss from discontinued operations. The reconciliation table in our press release highlights this data and our non-GAAP information is presented excluding these items. Now moving to our financial highlights for the third quarter of 2014, revenues for the third quarter of 2014 were $57.1 million compared to $51.8 million for the same period in 2013. The difference is mostly attributed to the increase in revenue in our Services and Defense and Mobility divisions. We expect that MINTIC project in Colombia which started to bring in revenues in the second and third quarter will generate increased revenues in the fourth quarter. We also expect to generate increased revenue from the IAL project in Peru which began generating revenue in the third quarter. On a GAAP basis, our gross margin this quarter reached 32.5% compared to 32.2% in the comparable period last year. Gross R&D expenses on a GAAP basis were $6.7 million this quarter compared to $7.1 million in the same quarter of 2013. The decrease in R&D expenses reflects a reduction in fixed expenses resulting from the integration effort and growing synergies within the division. We are continuing to invest substantial funds in R&D to support our strategy in Ka-band and on-the-move applications. Moving to selling, marketing, general and administrative expenses, on a GAAP basis expenses for the quarter were $11.2 million compared to $12.5 million for the same quarter last year. Selling, marketing, general and administrative were lower due to both reduced fixed…

Thank you, Yaniv. To summarize, we are seeing progress across all our divisions as we continued to execute our plan and growth strategy in the third quarter. Our revenues are growing and together with our 2013 cost-cutting measures, we see an increase in our profitability. In our Commercial division, our enterprise market has been especially strong, we saw several deployments of our CellEdge, small cell over satellite solution, and cellular backhaul networks, as well as credibility for our high-speed TDMA SkyEdge II-c Capricorn through a third-party testing. We see a strong funnel of high throughput satellite systems and expect to capitalize on them over the next 12 months. Our Defense and Mobility division has improved with an improved sales pipeline. We expect to see continued growth across this division as we believe we hold a significant advantage over our competitors when it comes to small light-weight low-power terminals. In our Services division, both our Amazonica project in Peru and the MINTIC project in Colombia are on schedule and have started to generate revenues with more significant revenues expected in Q4. We believe that the fourth quarter of 2014 will be stronger than the third quarter of the year. We expect to reach higher profitability than our 2014 management objective, with EBITDA margins of about 10% for the year although revenues are expected to be slightly lower at a level of approximately $235 million. That concludes our review. We would now like to open floor for questions. Operator, please?

I just want to thank everyone for joining and listening in to the call. Thank you for your time and attention and hope to see you sometime soon or at the next call. Thank you very much.