928er
14 years ago
KVH Boosts mini-VSAT Broadband Capacity More Than 500% in North American Waters
Kvh Industries (MM) (NASDAQ:KVHI)
Intraday Stock Chart
Today : Thursday 19 August 2010
The mini-VSAT Broadbandsm maritime satellite communications network operated by KVH Industries, Inc., (Nasdaq:KVHI) received a major boost in capacity for mariners in the waters of North America, the Gulf of Mexico, and Central America today. With the addition of an additional full satellite transponder as well as the rollout of a powerful new spread spectrum waveform, KVH and its partner, ViaSat (Nasdaq:VSAT), expanded the mini-VSAT Broadband network's capacity in the region by more than 500% and further strengthened the ability of the network to support existing and future subscribers.
"The mini-VSAT Broadband network was designed from the ground up to offer service and performance superior to traditional maritime VSAT services. Thanks to its flexible and robust architecture, the network is capable of rapid, easy expansion to meet the growing demand for affordable broadband service and voice communications at sea," explains Brent C. Bruun, KVH's vice president of satellite sales and business development. "Advancements in ViaSat's ArcLight® spread spectrum waveform combined with additional satellite capacity allow us to provide more than six times the bandwidth previously available in this region. The additional capacity is especially critical in the Gulf of Mexico, where many mini-VSAT Broadband-equipped vessels are participating in oil spill recovery efforts."
The mini-VSAT Broadband network and the KVH TracPhone® V7 antenna comprise the first next-generation maritime satellite communications solution, which includes the first FCC-approved 24-inch VSAT antenna along with a fully integrated worldwide service. The seamless global network is delivered by eleven satellite transponders and eight secure earth stations and offers voice service and Internet access as fast as 512 Kbps (upload) and 2 Mbps (download) with significant cost savings compared to competing services.
Looking ahead toward future network enhancements, Bruun says: "For mariners looking ahead to their future communication needs, the mini-VSAT Broadband solution offers today what other providers are planning to offer three or four years from now. mini-VSAT Broadband is already the fastest growing global VSAT network for the maritime industry as we expect to ship our 1000th system very soon, less than three years after the launch of the service. While the network already offers outstanding capacity worldwide, we are committed to the continued enhancement of the service that vessels worldwide already enjoy. That is why we're now preparing to roll out this advanced technology into other mini-VSAT Broadband regions around the globe. Subscribers to mini-VSAT Broadband will benefit from these expansions in capacity as well as other advantages, all with no changes to their existing, compact TracPhone V7 hardware. No other network provider is capable of providing this combination of network flexibility, worldwide coverage, small antenna hardware, and affordable VSAT performance."
Visit http://www.minivsat.com for additional details regarding the TracPhone V7 and mini-VSAT Broadband service and coverage.
Note to Editors: High-resolution, press-ready images are available at http://press.kvh.com for download and editorial use.
About KVH Industries, Inc.
Middletown, RI-based KVH Industries, Inc., and its wholly owned subsidiary, KVH Europe A/S, are leading providers of in-motion satellite TV and communications systems, having designed, manufactured, and sold more than 150,000 mobile satellite antennas for applications on vessels, vehicles, and aircraft. KVH's mission is to connect mobile customers around the globe with the same digital television entertainment, communications, and Internet services that they enjoy in their homes and offices.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results could differ materially. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH does not assume any obligation to update its forward-looking statements to reflect new information or developments.
KVH and TracPhone are registered trademarks of KVH Industries, Inc. "mini-VSAT Broadband" is a service mark of KVH Industries, Inc. All other trademarks are the property of their respective companies.
CONTACT: KVH Industries, Inc.
Chris Watson
401-845-8138
cwatson@kvh.com
928er
14 years ago
KVH Industries Reports Second Quarter 2010 Results
Date : 07/26/2010 @ 7:00AM
Source : GlobeNewswire Inc.
Stock : KVH Industries, Inc. (KVHI)
Quote : 12.99 0.0 (0.00%) @ 7:22AM
KVH Industries Reports Second Quarter 2010 Results
Kvh Industries (MM) (NASDAQ:KVHI)
Intraday Stock Chart
Today : Monday 26 July 2010
Record quarterly revenue of $29.5 million up 35% from prior year
Record quarterly earnings of $5.3 million or $0.36 per diluted share, including a net $3.3 million tax benefit
Excluding a change in deferred tax valuation allowance, quarterly adjusted net income was approximately $1.3 million, and adjusted EPS was $0.09
KVH Industries, Inc., (Nasdaq:KVHI) today reported financial results for the second quarter ended June 30, 2010. Revenue for the second quarter of 2010 was $29.5 million, up 35% from the quarter ended June 30, 2009. Diluted earnings per share for the quarter totaled $0.36 on net income of $5.3 million. Net income resulted from pre-tax earnings of $2.0 million and a $3.3 million income tax benefit. Excluding the income tax benefit from the change in deferred income taxes valuation allowance, quarterly adjusted net income was approximately $1.3 million, and adjusted EPS was $0.09. During the same period last year the company reported net income of $0.2 million or $0.01 per diluted share, on revenues of $21.9 million.
For the six months ended June 30, 2010, revenue was $57.5 million, up 43% compared to $40.1 million for the six months ended June 30, 2009. KVH reported net income of $7.4 million or $0.50 on a per diluted share basis for the first six months of 2010. Excluding the income tax benefit from the change in deferred income taxes valuation allowance, year to date adjusted net income was approximately $3.4 million, and year to date adjusted EPS was $0.23 per diluted share. During the same period last year, the company reported a net loss of $2.4 million or $0.17 on a per share basis.
"Strong performance in each of our major markets during the second quarter led to our second consecutive record for quarterly revenue as well as a better-than-expected bottom line bolstered by a sizable tax benefit. Even without the income tax benefit, our income from operations was still higher than anticipated. Our strategic initiatives in fiber optic gyros (FOGs) and global satellite communications continued to drive our growth. We also enjoyed renewed growth from some of our other business areas that have been stressed by the economy for quite a while," explained Martin Kits van Heyningen, KVH's chief executive officer.
KVH's defense-related guidance and stabilization revenue from the company's FOG solutions, TACNAV® military navigation systems, and related services was approximately $12.8 million in the second quarter of 2010, up 38% on a year-over-year basis. "With product sales of roughly $10.6 million, a 49% increase from the same period last year, our FOG business set a new sales record while making a significant contribution to our top and bottom line success. We are sustaining this momentum with recent orders for more than $9.0 million in FOGs for remote weapon stations. We also experienced success in the commercial FOG market spurred by the strong demand for our compact and affordable three-axis inertial navigation systems," said Mr. Kits van Heyningen.
In the second quarter of 2010, mobile communications revenue from marine, land, and aeronautical products and services was $16.7 million, up 33% on a year-over-year basis. Mr. Kits van Heyningen commented, "With our mini-VSAT Broadbandsm satellite communications service, we set ourselves apart from the competition by building the only seamless global multi-megabit spread spectrum network for ships and planes. As a result, second quarter airtime revenue from mini-VSAT Broadband showed strong year-over-year and sequential growth. Mobile communications sales also benefitted from roughly $1.5 million in shipments of our aviation satellite TV system as well as a gratifying uptick in sales of our land mobile satellite TV systems for recreational vehicles."
Speaking about the company's financial results, Patrick Spratt, KVH's chief financial officer, said, "Our second quarter performance was once again strong and exceeded our expectations on both the top and bottom lines. In spite of the generally weak global economic conditions, we have continued to grow. Our strategic initiatives are progressing well. While gross margin for the quarter was slightly lower than expected, operating expenses were in line. The higher-than-anticipated revenue level contributed to operating earnings that exceeded what we had anticipated for the quarter. The balance sheet remained quite strong with our cash, cash equivalents, and marketable securities position increasing $3.7 million since March 31, 2010, to more than $45 million. At the end of the quarter, we concluded that it is more likely than not that we will be able to realize the majority of our deferred tax assets over the next several years. As a result, we recorded an income tax benefit of $4.0 million related to the release of the associated deferred tax asset valuation allowance."
Looking ahead to the remainder of the year, Mr. Spratt said, "For the third quarter we expect revenue to again show solid growth in the range of 18-26% compared to the third quarter of 2009. We anticipate a sequential decline compared to the second quarter of 2010 because, as planned, there will be no shipments for our aviation TV antenna, and we expect to see the normal seasonal decline in demand in the leisure marine markets. This sequential decline, along with continuing investments in the mini-VSAT Broadband global infrastructure are expected to result in EPS in the range of $0.05 to $0.10. Full year 2010 is developing a little better than our original expectations. We anticipate that in the fourth quarter we will see a sequential increase in revenue and EPS, leading into what we expect will be a long-term trend of operating profit growth, driven by the growth of our strategic businesses but still subject to historical patterns of seasonality."
Recent Operational Highlights:
On June 9, 2010, KVH revealed that Rafael Advanced Defense Systems had selected KVH's DSP-4000 dual-axis FOG for integration within its remote weapon stations.
On June 3, 2010, KVH announced that it had received a new $7.1 million order for its DSP-3100 FOGs for use in remote weapon stations.
On June 1, 2010, KVH announced that Fleetwood RV would be using KVH's TracVision® satellite TV systems on its 2011 model year motor homes.
On May 14, 2010, KVH announced that it had received a $2.0 million order for its TACNAV II tactical navigation systems from an international military customer.
KVH is webcasting its second quarter conference call live at 10:30 a.m. Eastern time today through the company's website. The conference call can be accessed via the company's website at http://investors.kvh.com and listeners are welcome to submit questions pertaining to the earnings release and conference call to ir@kvh.com. The audio archive and an MP3 podcast will also be available on the company website within three hours of the completion of the call.
About KVH Industries, Inc.
KVH Industries (www.kvh.com) is a leading manufacturer of solutions that provide global high-speed Internet, television and voice services via satellite to mobile users at sea, on land, and in the air. KVH is also a premier manufacturer of high performance sensors and integrated inertial systems for defense and commercial guidance and stabilization applications. The company is based in Middletown, RI, with facilities in Tinley Park, IL, Kokkedal, Denmark, and Singapore.
This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding our financial goals for future periods, anticipated revenue growth, anticipated profitability, anticipated orders for our mobile communication and military products, and anticipated improvements in our competitive position. The actual results we achieve could differ materially from the statements made in this press release. Factors that might cause these differences include, but are not limited to: the impact of extended economic weakness on the sale and use of motor vehicles and marine vessels; the need to increase sales of the TracPhone V7 and related services to improve airtime gross margins; delays or an inability to expand coverage of the mini-VSAT Broadband service to new regions; the potential inability to secure adequate Ku-band satellite capacity or the licenses necessary for any expansion of the mini-VSAT Broadband network; the need for or delays in qualification of products to customer or regulatory standards; unanticipated declines or changes in customer demand, due to economic, seasonal and other factors, particularly with respect to the TracPhone V7; the unpredictability of military budget priorities as well as the order timing, purchasing schedules and priorities for our defense products, including possible order cancellations; potential reductions in our overall gross margins in the event of a shift in product mix; and currency fluctuations, export restrictions, delays in procuring export licenses, and other international risks. These and other factors are discussed in more detail in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 4, 2010. Copies are available through our Investor Relations department and website, http://investors.kvh.com. We do not assume any obligation to update our forward-looking statements to reflect new information and developments.
KVH Industries, Inc., has used, registered, or applied to register its trademarks in the USA and other countries around the world, including the following marks: KVH, KVH logo, Azimuth, TracVision, TracPhone, Tri-Americas, TACNAV, DataScope and the DataScope logo, Sailcomp, mini-VSAT Broadband and the mini-VSAT Broadband logo, and the banded, dome-shaped housing of its satellite antennas. Other trademarks are the property of their respective companies.
KVH INDUSTRIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts, unaudited)
Three Months Ended
June 30, Six Months Ended
June30,
2010 2009 2010 2009
Sales:
Product $24,622 $18,129 $48,656 $33,693
Service 4,875 3,727 8,823 6,438
Net sales 29,497 21,856 57,479 40,131
Costs and expenses:
Costs of product sales 13,771 11,389 26,893 22,479
Costs of service sales 4,231 2,688 7,287 4,375
Research and development 2,500 1,858 5,083 3,973
Sales, marketing and support 4,738 3,971 9,236 8,130
General and administrative 2,316 1,853 4,681 3,780
Total costs and expenses 27,556 21,759 53,180 42,737
Income (loss) from operations 1,941 97 4,299 (2,606)
Interest income 92 93 183 205
Interest expense 59 25 82 37
Other income, net 32 10 63 8
Income (loss) before income tax benefit 2,006 175 4,463 (2,430)
Income tax benefit 3,318 16 2,927 64
Net income (loss) $5,324 $191 $7,390 $(2,366)
Net income (loss) per common share:
Basic $0.37 $0.01 $0.52 $(0.17)
Diluted $0.36 $0.01 $0.50 $(0.17)
Weighted average number of common shares outstanding:
Basic 14,373 13,956 14,298 13,982
Diluted 14,770 14,113 14,738 13,982
KVH INDUSTRIES, INC. AND SUBSIDIARIES
RECONCILIATION OF NET INCOME TO ADJUSTED NET INCOME
Net Income Excluding Income Tax Benefit from Change in Deferred Income Taxes Valuation
Allowance (in thousands, unaudited)
Three Months Ended
June 30, 2010 Six Months Ended
June 30, 2010
Net income - GAAP $ 5,324 $ 7,390
Income tax benefit from change in deferred income taxes
valuation allowance 3,982 3,982
Adjusted net income $ 1,342 $ 3,408
Adjusted net income per common share:
Basic $ 0.09 $ 0.24
Diluted $ 0.09 $ 0.23
Adjusted weighted average number of common shares outstanding:
Basic 14,373 14,298
Diluted 14,855 14,826
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, unaudited)
June 30,
2010 December 31,
2009
ASSETS
Cash, cash equivalents and marketable securities $45,549 $41,304
Accounts receivable, net 18,263 15,803
Inventories 14,196 13,387
Deferred income taxes 1,471 --
Other current assets 1,547 1,632
Total current assets 81,026 72,126
Property and equipment, net 17,760 15,777
Deferred income taxes 5,862 3,334
Other non-current assets 6,247 6,509
Total assets $110,895 $97,746
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses $13,684 $10,358
Deferred revenue 1,003 961
Current portion of long-term debt 121 117
Total current liabilities 14,808 11,436
Other long-term liabilities 822 902
Long-term debt, excluding current portion 3,747 3,808
Stockholders' equity 91,518 81,600
Total liabilities and stockholders' equity $110,895 $97,746
CONTACT: KVH Industries
Patrick Spratt
pspratt@kvh.com
Financial Dynamics
Christine Mohrmann
212-850-5600
928er
14 years ago
KVH TracVision HD7 Users Can Now Enjoy DIRECTV HD in 3D at Sea
Kvh Industries (MM) (NASDAQ:KVHI)
Historical Stock Chart
1 Month : June 2010 to July 2010
Boaters who enjoy soccer but can't make it to the 2010 FIFA World Cup™ this summer can now watch the games in 3D while on the water, thanks to the revolutionary TracVision® HD7 from KVH Industries, Inc., (Nasdaq:KVHI). The new TracVision HD7 marine satellite TV antenna is fully compatible with broadcasts from the newest DIRECTV® satellite, which offers more than 200 high-definition (HD) channels and the world's first three-dimensional (3D) satellite TV channels, including broadcasts of World Cup matches in 3D.
"DIRECTV's new satellite increased DIRECTV's HD capacity by 50%, and the additional programming is helping our TracVision HD7 customers get the most out of their systems," said Jim George, KVH's director of sales for satellite products. "This happened just in time for the World Cup, and we are excited to provide our TracVision HD7 customers with the opportunity to watch the matches and other outstanding DIRECTV programming both in HD as well as in 3D from the comfort of their boats."
The TracVision HD7 features KVH's patent-pending TriAD™ antenna technology, which allows the antenna to receive signals from all three primary Ka-band and Ku-band DIRECTV satellites simultaneously, track those satellites even as the boat cruises at high speeds and through rough seas, and offer a DIRECTV HD experience just like at home. In addition, the TracVision HD7 includes an Internet Protocol (IP)-enabled antenna control unit (ACU) with a built-in Ethernet connection, WiFi interface, and USB port for easy setup, as well as a free iPhone® app that allows owners to check signal strength and switch satellites right from their iPhones!
For boaters who plan to travel frequently among the Americas, KVH offers the Ka/Ku-band Tri-Americas® LNB for the TracVision HD7. This unique accessory allows TracVision HD7 owners to switch between DIRECTV and DIRECTV Latin America when travelling among ports in North America, the Caribbean, and Central and South America without having to change any antenna hardware!
Please visit www.kvh.com/hd7 for more details about the revolutionary TracVision HD7.
Note to Editors: High-resolution, press-ready photos of the TracVision HD7 are available at http://press.kvh.com for download and editorial use.
About KVH Industries, Inc.
Middletown, RI-based KVH Industries, Inc., is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than 150,000 mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. Winner of the prestigious General Motors Innovative Design Award, 2 CES Innovation Awards, 33 National Marine Electronics Association Industry Awards, the DAME Award in the Marine Electronics category, and a finalist for the Automotive News PACE Award, KVH's mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their homes and offices.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results could differ materially. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH does not assume any obligation to update its forward-looking statements to reflect new information or developments.
KVH, TracVision, Tri-Americas, and TriAD are trademarks of KVH Industries, Inc. All other trademarks are the property of their respective companies.
CONTACT: KVH Industries
Chris Watson
401-845-8138
cwatson@kvh.com
928er
14 years ago
Boaters Bringing DIRECTV HD Onboard This Summer With KVH's New TracVision HD7
Kvh Industries (MM) (NASDAQ:KVHI)
Historical Stock Chart
1 Month : June 2010 to July 2010
Boaters around the United States are enjoying summer fun in high definition thanks to the TracVision® HD7 from KVH Industries, Inc., (Nasdaq:KVHI). This revolution in onboard entertainment, introduced in late 2009, is the first compact satellite TV antenna to offer yacht owners simultaneous access to three DIRECTV® satellites at once, so boat owners and passengers can enjoy HD programming and Digital Video Recorders (DVRs) on the water just like they do at home.
"I was confident in purchasing one of the first units of the TracVision HD7 for Sensation because I've never experienced anything but the best quality when using KVH products," says Dr. William Smith, owner of Sensation, a 112' Westport. "Plus, the HD7's size is perfect for my boat. It works great during our travels in Southern Florida, the Bahamas, and the Gulf of Mexico and is much better than our Sea Tel unit."
Richard Holtz, owner of O! Richard, a Sea Ray 580, agrees: "What impresses me the most about the TracVision HD7 is that it works as it should. Boaters want hassle free reception and performance, and that's what you get with the [TracVision] HD7. KVH is a winner in the marine television market."
The TracVision HD7 is the perfect solution for receiving DIRECTV's complete lineup of high-definition and standard programming, which is broadcast from two Ka-band satellites and one Ku-band satellite. With rock-solid tracking and crystal-clear reception, it offers the best satellite TV performance afloat as well as the flexibility to enable everyone on board to watch the channels they want, whenever they want, without the inconvenience of satellite switching or multiple domes. "When it comes to getting HDTV on my boat, TracVision is really the only choice. We currently have three HD TVs connected with the ability to add more," comments Patrick Mickle, the owner of Tribeca, a Marquis 65 based in southern California.
In addition, customers with older TracVision models looking to upgrade are finding that the process couldn't be easier. "I replaced a TracVision G6 with a TracVision HD7 and because they have the identical mounting design, the upgrade was a breeze," explains Holtz. "KVH's design using the DIRECTV Single-Wire Multiswitch on the TracVision HD7 makes the best sense for allowing DVR capabilities in any location on a boat without any expensive rewiring."
The TracVision HD7 features KVH's patent-pending TriAD™ antenna technology, which allows the antenna to receive signals from all three primary DIRECTV satellites simultaneously, track those satellites even as the boat cruises at high speeds and through rough seas, and offer a DIRECTV HD experience just like at home. In addition, the TracVision HD7 includes an Internet Protocol (IP)-enabled antenna control unit (ACU) with a built-in Ethernet connection, WiFi interface, and USB port for easy setup, as well as a free iPhone® app that allows owners to check signal strength, update antenna software, and switch satellites right from their iPhones.
For boaters who plan to travel frequently among the Americas, KVH offers the Ka/Ku-band Tri-Americas® LNB for the TracVision HD7. This unique accessory allows TracVision HD7 owners to switch between DIRECTV and DIRECTV Latin America when travelling among ports in North America, the Caribbean, and Central and South America without having to change any antenna hardware!
Please visit www.kvh.com/hd7 for more information about KVH's revolutionary TracVision HD7.
Note to Editors: High-resolution, press-ready images of KVH's TracVision HD7 are available at www.kvh.com/press for download and editorial use.
About KVH Industries, Inc.
Middletown, RI-based KVH Industries, Inc., is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than 150,000 mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. Winner of the prestigious General Motors Innovative Design Award, 2 CES Innovation Awards, 33 National Marine Electronics Association Industry Awards, the DAME Award in the Marine Electronics category, and a finalist for the Automotive News PACE Award, KVH's mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their homes and offices.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results could differ materially. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH does not assume any obligation to update its forward-looking statements to reflect new information or developments.
KVH, TracVision, TriAD, and Tri-Americas are trademarks of KVH Industries, Inc. All other trademarks are the property of their respective companies.
CONTACT: KVH Industries
Chris Watson
401-845-8138
cwatson@kvh.com
manny t
19 years ago
KVH Announces Results for Second Quarter
Thursday July 21, 7:00 am ET
MIDDLETOWN, R,I.--(BUSINESS WIRE)--July 21, 2005--KVH Industries, Inc., (Nasdaq: KVHI - News)
-- Record Quarterly Revenue of $18.8 Million
-- Profit of $1 Million and $0.06 Per Diluted Share
KVH Industries, Inc., (Nasdaq: KVHI - News), a leading provider of mobile satellite communications products and defense-related navigation and guidance systems, today reported its results for the second quarter ended June 30, 2005. Revenue for the second quarter was $18.8 million, up 29% from $14.5 million for the second quarter ended June 30, 2004. Net income for the period was $1.0 million, or $0.06 per diluted share compared to a net loss of ($4.9) million, or ($0.34) per share, during the same period last year.
For the six months ended June 30, 2005, revenue increased 13% to $36.7 million from $32.5 million for the six months ended June 30, 2004. KVH reported net income of $1.3 million or $0.09 per diluted share for the 2005 period, versus a net loss of ($4.8) million or ($0.35) per share in the year ago period.
"Strong defense revenues, combined with good growth in our mobile satellite product sales, allowed us to achieve record quarterly revenue and solid bottom line results for the quarter. In addition, we achieved improvements in all key aspects of our operations and reached exciting milestones in each of our business areas," said Martin Kits van Heyningen, KVH's president and chief executive officer.
Second quarter sales of the company's mobile satellite communications products increased 10% compared to the second quarter of 2004. Year-to-date, mobile satellite communications revenue was up 4%, compared to the first six months of 2004.
"Strong marine sales led the way with a 15% increase over last year's second quarter, thanks to growth in both our North American and European sales," explained Mr. Kits van Heyningen. "Sales in the land market increased 4% over the second quarter of last year, despite a decline in sales to the RV market. Sales of Class A RVs, the primary platforms for our TracVision® systems, are down for the year, and we are seeing a corresponding slow-down in TracVision sales to RV manufacturers as they reduce vehicle production levels."
Discussing the second quarter demand for KVH's satellite TV antenna technology within the automotive marketplace, Mr. Kits van Heyningen remarked, "Sales of the TracVision A5 rose year-over-year and helped offset the decline in sales to the RV space. We continued to record good sales through our established aftermarket retail network and made solid progress in our efforts to enroll premier Cadillac dealers as authorized TracVision A5 retailers. Late in the second quarter, we increased the visibility of the TracVision A5 among automotive consumers by bringing TracVision A5 to the rental car marketplace through a pilot program in cooperation with Avis Rent a Car. This is the first phase in what we hope is a program that will expand to include additional Avis locations and other vehicle models."
For the second quarter of 2005, defense-related sales, including those for KVH's TACNAV® military navigation systems and fiber optic gyro (FOG) solutions, were up a combined 146% on a year-over-year basis. Year to date, defense revenue was up 54% compared to the first six months of 2004.
"Along with new orders for our TACNAV vehicle navigation systems, interest in and sales of our fiber optic products remained strong," Mr. Kits van Heyningen said. "Our DSP-3000 fiber optic gyro is now an integral component in the U.S. military's Common Remotely Operated Weapon Stations (CROWS), which allow gunners to accurately shoot from inside the safety of their Humvees or other vehicles. The initial order for the DSP-3000, valued at roughly $1.5 million, is for the first 12 months of what is expected to be a 5-year program. Overall, our defense backlog almost doubled to $11.4 million compared to the end of the first quarter of 2005."
Commenting on the company's financial results, Pat Spratt, chief financial officer, said, "We remained focused on operational efficiency and cost controls and our efforts have shown meaningful benefit. For the second quarter of 2005, gross margin was 41%, reflecting an almost 2-percentage point improvement on a sequential basis and a 26-percentage point improvement on a year-over-year basis. Operating margin improved more than 3 percentage points, or more than $640,000, compared to the first quarter of 2005. Our asset management continued to improve, led by accounts receivable days sales outstanding at 50, a decline of 6 days from the first quarter and 8 days from the prior year. Inventory turns remained steady at 5.4 on an annualized basis. These factors contributed to strong second quarter positive cash flow from operations at $2.3 million."
Commenting on the company's expected performance during the second half of the year, Mr. Spratt noted, "We expect that revenue will continue to show year-over-year growth though we do anticipate a sequential decline as a result of the seasonal slow-down historically experienced in the marine market during the second half of the year. We do expect to achieve profitable results for the third quarter, although the sequential decline in revenue will likely cause net earnings to be below that of the second quarter."
"We are seeing the benefits of the successful implementation of our operational plan together with the introduction of some new products in the marine market," concluded Mr. Kits van Heyningen. "During the second quarter, several long-term program opportunities came to fruition in the defense arena, and we continue to build momentum in the auto market. I am extremely pleased with our results for the second quarter as well as the first half of the year."
Recent Highlights:
July 5, 2005 - Avis Rent A Car announced that its new Hummer H3 sport utility vehicles at Sky Harbor International Airport in Phoenix, Arizona, would now offer the TracVision A5 automotive satellite TV system and DIRECTV® satellite TV programming.
June 27, 2005 - KVH introduced new variants of its high-performance marine TracVision systems designed for use with the Sky Mexico service, the most popular satellite TV service in Mexico and offering coverage throughout Central America and the western Caribbean.
May 15, 2005 - KVH received a $1.5 million order from Recon/Optical, Inc., for KVH's high-performance DSP-3000 fiber optic gyro systems, which are being used in the U.S. Army's new Common Remotely Operated Weapon Stations.
Over the course of the second quarter of 2005, KVH received orders valued at more than $3.4 million for its TACNAV military navigation systems. These orders were placed by a variety of U.S. and foreign military customers.
KVH is webcasting its second quarter conference call live at 10:30 a.m. Eastern Time today through the company's web site. The conference call can be accessed via the company's web site at http://www.kvh.com/InvRelations. The audio archive and an MP3 podcast will also be available on the company web site within three hours of the completion of the call.
manny t
19 years ago
KVHI,
Avis Introduces DIRECTV(R) Service and DVD in Rental Vehicles
Tuesday July 5, 2:17 pm ET
First Rental Car Company to Offer In-Car Satellite TV
PARSIPPANY, N.J., July 5 /PRNewswire/ -- To help vacationers make the most of their time on the road this summer, Avis Rent A Car System, Inc. today announced two new options to keep travelers entertained every mile of the way. Beginning this month at Sky Harbor International Airport in Phoenix, AZ, new Hummer H3 sport utility vehicles equipped with DIRECTV® satellite TV programming will be available for rent. Using the KVH TracVision A5 satellite TV antenna, Avis customers will be able to access more than 135 channels of live DIRECTV programming virtually anywhere they drive. In addition, Avis now has 5,000 DVD-equipped vehicles available for rent nationwide.
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"We want to ensure that our customers have the best rental experience possible when they choose Avis. The addition of DIRECTV service and DVD gives our customers an unparalleled level of entertainment choices," said Scott Deaver, executive vice president of marketing for the Cendant Car Rental Group, parent company of Avis.
The patented in-car satellite TV system was developed by KVH Industries, Inc. (Nasdaq: KVHI - News), and features the TracVision A5 system designed specifically for passenger vehicles.
"We are extremely pleased to be working with Avis to bring the excitement of live DIRECTV programming to their customers," said Martin Kits van Heyningen, president and chief executive officer of KVH.
Hummer H3s with the TracVision A5 and DIRECTV satellite TV programming are currently available for rent at Sky Harbor International Airport in Phoenix, AZ. There is no additional cost for DIRECTV programming in Hummer H3s. There is no additional cost for vehicles equipped with DVD players. Customers may reserve a Hummer H3 with DIRECTV by visiting http://www.avis.com or by calling 888-777-AVIS. Customers must request a DVD-equipped vehicle when making a reservation at 888-777-AVIS. DVD-equipped vehicles and Hummer H3s with DIRECTV are both subject to availability.
About KVH
KVH Industries, Inc., is the leading provider of in-motion satellite systems, having designed, manufactured, and sold more than 75,000 mobile satellite antennas for applications on boats, RVs, trucks, buses and automobiles. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark. For more information, visit http://www.kvh.com.
About DIRECTV
DIRECTV is the nation's leading and fastest-growing digital multichannel television service provider with more than 14.4 million customers. DIRECTV and the Cyclone Design logo are registered trademarks of DIRECTV, Inc. (NYSE: DTV - News). DIRECTV is a world-leading provider of digital multichannel television entertainment. DIRECTV is approximately 34 percent owned by News Corporation. For more information visit http://www.directv.com.
About Avis
Avis Rent A Car System, Inc. and its subsidiaries operate the world's second largest general-use car rental brand, providing business and leisure customers with a wide range of services at nearly 1,900 locations in the United States, Canada, Australia, New Zealand and the Latin American / Caribbean region. Avis is one of the world's top brands for customer loyalty, ranking as the number one car rental company in the 2005 Brand Keys® Customer Loyalty Index. The company is part of Cendant Car Rental Group, a wholly owned subsidiary of Cendant Corporation (NYSE: CD - News), a diversified global provider of business and consumer services primarily within the real estate and travel sectors. For more information visit http://www.avis.com or http://www.cendant.com/media.
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20 years ago
KVH Receives $1.5M Fiber Optic Gyro Order for Use on U.S. Army Remote Gun Turrets
Monday May 16, 7:30 am ET
KVH DSP-3000 FOGs Selected by Recon/Optical, Inc.; Providing Stabilization for New Common Remotely Operated Weapon Stations
MIDDLETOWN, R.I.--(BUSINESS WIRE)--May 16, 2005-- KVH Industries, Inc., (Nasdaq: KVHI - News) announced today that it has received a $1.5 million order from Recon/Optical, Inc., for KVH's high-performance DSP-3000 fiber optic gyro (FOG) systems, which are being used in the U.S. Army's new Common Remotely Operated Weapon Stations (CROWS). The CROWS system, already in use in Iraq, allows turret gunners to operate, aim, and fire the turret weapon from inside the safety of their HUMVEEs or other vehicles, taking the gunners out of turret positions where they are exposed to hostile fire. Two KVH DSP-3000 FOGs are installed in each CROWS system, providing precise stabilization and weapon recoil control and ensuring that the weapon maintains its aim on the target. This order represents year one of a five-year contract.
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"The KVH DSP-3000 FOGs are at the heart of our stabilization system design," said Steve Sarles, Recon/Optical's engineering director for CROWS. "The accuracy of the CROWS stabilization system enables the gunner to place 'can't miss' rounds on target, greatly multiplying force effectiveness while minimizing collateral damage in urban warfare environments."
The CROWS system is designed and manufactured by Illinois-based Recon/Optical, Inc. (ROI), teamed with Electro Optic Systems Pty Ltd, and in conjunction with U.S. Army PEO Soldier/Project Manager Soldier Weapons. CROWS units are fielded on a number of vehicles, including the M1114 up-armored HMMWV for the military police, the M1116 up-armored HMMWV for the Air Force, and the M1117 Armored Security Vehicle for the military police.
"During a recent reconnaissance mission in Iraq, MPs using CROWS went out ahead of a convoy to gather intelligence and select a position," Lt. Col. Kevin P. Stoddard, product manager for Crew Served Weapons, explained in the January 2005 issue of RDECOM Magazine, a publication of the U.S. Army Research, Development, and Engineering Command. According to Lt. Col. Stoddard, after assessing the route, the CROWS team chose a position from which they spotted an insurgent preparing to attack the convoy. "The MPs used the system's high-powered sensors to identify the insurgent and engage him with small-arms fire," Stoddard said.
Equipped with a daytime video camera featuring dual-action stabilization for rough rides, a night-time sensor, a laser rangefinder, ballistic computer, state-of-the-art display, and control panel, the system enables the soldier to scan the terrain, find and lock onto the target, and fire the weapon, all from within the safety of the vehicle.
In an April 4, 2005 article for Defense News, Maj. Frank Lozano, fielding officer for CROWS in Iraq, commented on the advantage offered by CROWS: "It's huge. This is such a technological leap from what we had...a soldier in the turret, eyeballing it and shooting and adjusting off where his rounds land."
"The CROWS system has already proven itself to be vital to our military's defense efforts in Iraq, and we are extremely proud that our fiber optic gyro products will be playing a major role in helping to protect our soldiers," said Martin Kits van Heyningen, president and chief executive officer of KVH Industries. "The CROWS system demonstrates the robustness of KVH's fiber optic products as our FOGs provide the reliability and accuracy necessary for such a demanding application. We are looking forward to working with Recon/Optical and serving the United States military over the next five years and potentially beyond."
With their all-fiber design and patented Digital Signal Processing (DSP) technology, KVH's FOGs offer high reliability, superior accuracy and performance, and exceptional vibration, shock, and acceleration survivability at an affordable cost. KVH precision FOG products, such as the DSP-3000, DSP-4000, and TG-6000 Inertial Measurement Unit (IMU) are used in diverse commercial and defense-related applications requiring a high level of accuracy. For complete details regarding KVH's precision fiber optic gyro products, please visit http://www.fiberopticgyro.com.
Note to editors - High-resolution photos of the CROWS system and KVH's FOG products are available at http://www.kvh.com/mediasupport.
Recon/Optical, Inc. (http://www.reconoptical.com), based in Barrington, Illinois, is a global leader in the design, development, integration and production of stabilized, remotely controlled weapon systems; advanced digital reconnaissance cameras and systems for the visible and infrared spectra; multi-spectral optics and windows; stabilized chemical detection scanners; and sighting systems. ROI currently has 42 active patents, and supports its products in over 30 countries.
KVH Industries, Inc., designs and manufactures products that enable mobile communication, navigation, and precision pointing through the use of its proprietary mobile satellite antenna and fiber optic technologies. The company is developing next-generation systems with greater precision, durability, and versatility for communications, navigation, and industrial applications. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This press release may contain certain forward-looking statements that involve risks and uncertainties. For example, the statements regarding the company's financial goals for 2005 and beyond are forward-looking statements. The actual results realized by the company could differ materially from the statements made herein. Factors that might cause such differences include, but are not limited to: lack of reliable vendors, service providers, and outside products; uneven military sales cycles and changes in procurement priorities; the ability of the government and its contractors to cancel orders at their convenience; unforeseen changes in competing technologies and products; and worldwide economic variances. Additional factors are discussed in the company's most recent Form 10-Q, filed with the SEC. Copies are available through the company's Investor Relations department and web site, www.kvh.com. KVH assumes no obligation to update its forward-looking statements to reflect new information and developments.
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Contact:
KVH Industries
Chris Watson, 401-847-3327
Corporate Communications Manager
cwatson@kvh.com
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Source: KVH Industries
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20 years ago
KVH Receives $1.9 Million Order for TACNAV Military Navigation Technology
Thursday May 5, 7:30 am ET
MIDDLETOWN, R.I.--(BUSINESS WIRE)--May 5, 2005--KVH Industries, Inc., (Nasdaq: KVHI - News) announced today that it has received a new order worth approximately $1.9 million from a defense prime contractor for elements of its TACNAV® military vehicle navigation system. The TACNAV components included within the order will be used to upgrade KVH's TACNAV navigation systems already in the field, allowing the navigation system to connect with the U.S. Army's FBCB2 digital battlefield system. The company expects to recognize all of the revenue from this contract in 2005.
"Our defense navigation business remains a significant strategic area for KVH both through new sales and, in the case of this recent order, ongoing component sales to support expanded operational capabilities and ongoing fielding requirements with our existing customers," said Dan Conway, vice president of business development for KVH Industries. "TACNAV has consistently proven its ability to support applications in demanding military environments, including vehicle navigation, integration with digital battlefield management systems, and precision stabilization and pointing."
Due to contractual restrictions, additional details regarding the customer cannot be disclosed.
KVH's TACNAV military vehicle navigation systems employ KVH's digital compass and fiber optic gyro (FOG) technology as well as proprietary software algorithms to provide uninterrupted navigation, heading, and pointing data for vehicle drivers, commanders, and crews. While TACNAV complements GPS, its self-contained sensors operate independently of GPS. As a result, TACNAV continues to provide mission-critical data for troops in the vehicle as well as to the digital battlefield system, even if GPS is blocked, jammed, or is otherwise unavailable. TACNAV can also serve as a link between each vehicle and the overall digital battlefield, making each unit a node in a secure military network that consolidates a wide range of tactical data to provide detailed information to individual units and military commanders.
KVH TACNAV navigation systems are currently in use on U.S. and allied vehicles participating in ongoing operations in Iraq. TACNAV systems have been sold for use aboard U.S. Army, Marine Corps, and Navy vehicles as well as to many allied customers, including Canada, Sweden, Great Britain, Germany, Spain, Australia, New Zealand, Saudi Arabia, Taiwan, Malaysia, Switzerland, and Italy.
Complete details regarding KVH's defense navigation and guidance products are available at http://www.tacnav.com.
Note to editors: High-resolution images of KVH's defense navigation products are available for download and editorial use at http://www.kvh.com/mediasupport.
KVH Industries, Inc., designs and manufactures products that enable mobile communication, navigation, and precision pointing through the use of its proprietary mobile satellite antenna and fiber optic technologies. The company is developing next-generation systems with greater precision, durability, and versatility for communications, navigation, and industrial applications. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This press release may contain certain forward-looking statements that involve risks and uncertainties. For example, the statements regarding the company's financial goals for 2005 are forward-looking statements. The actual results realized by the company could differ materially from the statements made herein. Factors that might cause such differences include, but are not limited to: lack of reliable vendors, service providers, and outside products; uneven military sales cycles and changes in procurement priorities; the ability of the government and its contractors to cancel orders at their convenience; unforeseen changes in competing technologies and products; and worldwide economic variances. Additional factors are discussed in the company's most recent Form 10-K, filed with the SEC on March 16, 2005. Copies are available through the company's Investor Relations department and web site, www.kvh.com. KVH assumes no obligation to update its forward-looking statements to reflect new information and developments.
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Contact:
KVH Industries
Chris Watson, 401-847-3327
Corporate Communications Manager
cwatson@kvh.com
or
Investor Relations Contact
Eric Boyriven, 212-850-5600
Financial Dynamics
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20 years ago
News From Yesterday:
KVH Doubles Internet Speeds for Tracphone F77 Satellite Communication Systems
Monday April 25, 7:30 am ET
New, Faster 128 Kbps ISDN Service Keeps Mariners Connected to Internet, E-mail, and Corporate Intranets Worldwide
MIDDLETOWN, R.I.--(BUSINESS WIRE)--April 25, 2005-- KVH Industries, Inc., (Nasdaq: KVHI - News) is making it even easier for mariners around the globe to connect to the Internet by doubling the high-speed data rates for the Tracphone® F77, the world's premier Inmarsat Fleet-compatible marine satellite communications system. Tracphone F77 customers can now enjoy high-speed 128 kilobits per second (Kbps) Internet and data service. And with KVH's exclusive Velocity(TM) Acceleration software, broadband data connections as fast as 500 Kbps - roughly the speed of residential DSL or cable Internet service - can be achieved, depending on network traffic and the data being transmitted.
"Fleet managers, ship captains, and yacht owners want to be connected at all times, and they want their marine communications system to be as fast and as reliable as their home system. This service upgrade gives them that option," said Ian Palmer, executive vice president of satellite sales for KVH. "What makes KVH the leader in marine mobile satellite communications is our ability to continually deliver more powerful products that vessel owners need to operate efficiently at sea. The need to receive up-to-the-minute information critical to vessel safety, operation, and business is crucial and the broadband data rates for the Tracphone F77 make staying connected even easier than before."
All new Tracphone F77 systems are equipped to operate with the 128 Kbps service and will receive this enhancement at no additional charge until August 31, 2005. After that time, an additional fee will apply. Older Tracphone F77 systems are also compatible with the 128 Kbps upgrade.
In addition to two pay-by-minute ISDN options (128 Kbps and the original 64 Kbps), the Tracphone F77 offers global voice and fax services as well as Inmarsat's Mobile Packet Data Service (MPDS), which is billed based on the amount of data transmitted and received rather than connection time. Tracphone F77 is fully compatible with shipboard PABX systems as well as onboard networks (when connected to an IP router). In addition the Inmarsat Fleet F77 service is designed to meet the International Maritime Organization's (IMO) latest distress and safety specifications of the Global Maritime Distress and Safety System (GMDSS). Fleet F77 and Tracphone F77 are also both compatible with Inmarsat's 4th generation of satellites ensuring that an investment in communications today will continue to pay dividends in the future.
For complete details on KVH's entire line of Tracphone satellite communication systems, please visit http://www.tracphone.com.
Note to editors - High-resolution images of KVH's satellite products are available at http://www.kvh.com/mediasupport.
KVH Industries, Inc., is the leading provider of in-motion satellite systems, having designed, manufactured, and sold more than 75,000 mobile satellite antennas for applications on boats, RVs, trucks, buses and automobiles. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
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20 years ago
KVH TracVision Named Exclusive Satellite TV System for Leading RV Maker Fleetwood
Wednesday April 20, 7:30 am ET
KVH, Long-time In-motion Satellite TV Provider to Fleetwood, Displaces Stationary Satellite Provider in Competitive Bid Process
MIDDLETOWN, R.I.--(BUSINESS WIRE)--April 20, 2005-- KVH Industries, Inc., (Nasdaq: KVHI - News) announced today that Fleetwood Enterprises (NYSE: FLE - News), the nation's leading manufacturer of recreational vehicles, has selected KVH as its sole source for satellite TV systems for Fleetwood's 2006 model year vehicles. Fleetwood first began using KVH's TracVision® systems on its RVs in 1999. KVH has served as Fleetwood's exclusive supplier of in-motion satellite TV antennas since 2002. KVH's award-winning TracVision antennas will be the exclusive satellite TV solution offered on Fleetwood's 2006 vehicles.
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"We chose KVH as the exclusive satellite provider for the 2006 Fleetwood line-up because they are the premier manufacturer and developer of satellite systems," explained Chris Braun, executive vice president of Fleetwood RV. "Fleetwood is always looking to align itself with the nation's leading brands that give our customers the flexibility, innovation, and value they desire."
Commenting on the expansion of KVH's relationship with Fleetwood, KVH President and Chief Executive Officer Martin Kits van Heyningen, said, "Fleetwood is clearly a market leader in the RV industry, and we are pleased to continue our long-standing relationship with this innovative organization. It is gratifying to know that Fleetwood recognizes that KVH and our TracVision systems are the best choice for value, quality, service, and reliability, the same features that Fleetwood customers have come to expect in every Fleetwood RV."
KVH will be supplying Fleetwood (www.fleetwood.com) with three members of its award-winning satellite TV product family: the in-motion TracVision L3 and TracVision LF systems, and TracVision SF, a stationary, self-acquiring system for use when the vehicle is parked. Each of these advanced systems provide access to more than 300 channels of digital TV programming and commercial-free music via the DIRECTV®, DISH Network(TM), and ExpressVu services. The TracVision antennas will be installed aboard motor homes built at Fleetwood's manufacturing facilities in California, Indiana, and Pennsylvania.
"Fleetwood's team was very clear about their needs going forward and I'm proud that KVH rose to the occasion to meet their requirements," commented Ian Palmer, KVH's executive vice president for satellite sales. "Their expectations and drive to offer only the best to their customers has helped spur us to innovate and improve our own products continuously. In fact, the names of our OEM-specific TracVision LF and TracVision SF models reflect the fact that we originally developed these versatile systems specifically for Fleetwood. We look forward to building on this very positive relationship in the future."
TracVision systems are available to Fleetwood customers through RiverPark, Inc., of Elkhart, Indiana, a leading distributor of KVH's satellite TV product line and other high-end electronics products to the recreational vehicle industry since 1981. In its distributor role, RiverPark (www.riverparkinc.com) works directly with OEMs to facilitate design and vehicle integration, maintain inventories and process production orders.
Additional information regarding KVH's complete line of mobile satellite TV systems can be found at http://www.tracvision.com.
Note to editors - High-resolution images of KVH's satellite products are available for download and editorial use at http://www.kvh.com/mediasupport.
KVH Industries, Inc., is the leading provider of in-motion satellite systems, having designed, manufactured, and sold more than 75,000 mobile satellite antennas for boats, RVs, trucks, buses and automobiles. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results could differ materially. Factors that may cause such differences include, among others, a decline in RV sales, which could have a corresponding impact on our mobile satellite TV system sales through RV OEMs, as well as those factors discussed in KVH's Form 10-K filed with the SEC on March 16, 2005. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.
--------------------------------------------------------------------------------
Contact:
KVH Industries Contact:
Chris Watson, 401-847-3327
Corporate Communications Manager
cwatson@kvh.com
or
KVH Investor Contact:
Eric Boyriven, 212-850-5600
Financial Dynamics
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Source: KVH Industries
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20 years ago
KVH TracVision A5 and DIRECTV Service to be Offered through Cadillac Dealers Nationwide
Tuesday April 19, 7:30 am ET
Award-winning TracVision A5 and DIRECTV Programming to be Available as Dealer-installed Accessory on Cadillac Escalade SUVs
MIDDLETOWN, R.I.--(BUSINESS WIRE)--April 19, 2005--A ride in a stylish Cadillac Escalade sport utility vehicle just became even more entertaining with today's announcement that Cadillac dealers throughout the United States will begin offering the award-winning TracVision® A5 automotive satellite TV system from KVH Industries, Inc., (Nasdaq: KVHI - News) along with DIRECTV® satellite TV programming. Cadillac, a division of General Motors (NYSE: GM - News), becomes the first automotive brand to offer live satellite TV as an accessory option through authorized dealers. TracVision A5, winner of the 2004 General Motors "Most Innovative Product Design Award", provides in-motion reception of 135+ channels of live, satellite TV programming from DIRECTV, Inc., in vehicles traveling on open roads throughout the continental United States.
"Vehicle personalization is very important to Cadillac customers," observed Jim Taylor, general manager of Cadillac. "The TracVision satellite TV system offers our customers the ultimate rear seat entertainment system. We've shown the TracVision to our top dealers and they told us loud and clear that they want this kind of high-end accessory to enhance the appeal of the Escalade."
Speaking about this new offer, KVH President and Chief Executive Officer Martin Kits van Heyningen remarked, "Cadillac has long epitomized the gold standard for American luxury vehicles, with the Cadillac Escalade leading the way. It is a pleasure to be working together with Cadillac and its dealers to bring TracVision and the DIRECTV TOTAL CHOICE® MOBILE programming package to Escalade owners around the country. This accessory application at Cadillac is a major milestone in our overall plans to widely offer satellite TV to the light vehicle market."
The TracVision A5 is a low-profile satellite TV antenna designed specifically for passenger vehicles. The 5-inch high TracVision A5 uses KVH's patented hybrid phased-array technology to create an antenna with a rugged, sleek design suitable for vehicles traveling on open roads across the U.S. The system includes KVH's ultra low-profile TracVision antenna, a 12-volt DIRECTV receiver designed for automotive use, an RF remote control, and exclusive access to DIRECTV's TOTAL CHOICE MOBILE programming.
"This is a great match among two leading consumer brands and innovative technology from KVH," said Daren Benzi, vice president, sales development and strategy for DIRECTV, Inc. "GM's Escalade owners typically want the best of premium products and services, and the ability to experience live DIRECTV programming in digital-quality picture and sound in the spacious, luxurious environment of a Cadillac Escalade is a highly compelling consumer offering. We look forward to working with Cadillac and KVH on this exciting new initiative."
Introduced September 2003, the TracVision A5 began reaching consumers just as the demand for passenger entertainment systems began to intensify in the automotive marketplace. Passenger entertainment is now among the most popular automotive accessories on the market today, with more than one-third of 2004 model year SUVs and minivans sold in the U.S. equipped with in-vehicle video screens, according to J.D. Power and Associates. Industry analyst Frost & Sullivan projects that by 2011, more than 36 million automobiles in the U.S. will be equipped with video systems and of these, more than 3 million vehicles will be equipped with mobile satellite TV systems.
"To ensure that Cadillac's dealers and customers receive outstanding support, we worked closely with Cadillac to develop sales and service programs as well as custom installation materials designed specifically for the Cadillac Escalade," explained Robert Riedford, KVH's director of business development for satellite products. "We also received tremendous support from DIRECTV for this OEM sales opportunity. As a result, we have put in place a program that will enable Cadillac dealers across the country to offer their customers the finest passenger entertainment available in the automotive industry."
Details regarding KVH's complete line of TracVision satellite TV antennas are available at http://www.tracvision.com.
Note to editors - High-resolution images of the TracVision A5 are available for download and editorial use at http://www.kvh.com/mediasupport.
About Cadillac
Cadillac is the luxury division of General Motors Corp. (NYSE: GM - News) and produces a full-line of luxury vehicles, including the STS luxury performance sedan, the XLR roadster, the SRX midsize luxury utility, and the CTS entry-luxury sedan. Cadillac also offers the popular DeVille, soon to be offered DTS, the Escalade, Escalade ESV and Escalade EXT.
About DIRECTV, Inc.
DIRECTV, Inc., is the nation's leading and fastest-growing digital multichannel television service provider with more than 13.9 million customers. DIRECTV and the Cyclone Design logo are registered trademarks of DIRECTV, Inc. DIRECTV (NYSE: DTV - News) is a world-leading provider of digital multi-channel television entertainment. DIRECTV is 34 percent owned by News Corporation.
About KVH Industries, Inc.
KVH Industries, Inc., is the leading provider of in-motion satellite systems, having designed, manufactured, and sold more than 75,000 mobile satellite antennas for boats, RVs, trucks, buses and automobiles. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results realized by the company could differ materially from the statements made herein. Factors that might cause such differences include, but are not limited to: failure to develop and market products suitable for automotive manufacturer use; failure to gain the acceptance of or orders from automotive manufacturers for the TracVision A5; widespread consumer demand for satellite TV service in cars fails to develop; as well as those other factors discussed in KVH's most recent Form 10-K filed on March 16, 2005, with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4867101
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Contact:
KVH Industries Contact:
Chris Watson, 401-847-3327
cwatson@kvh.com
or
Cadillac Contact:
Kelly Wysocki, 313-665-6811
kelly.wysocki@gm.com
or
DIRECTV Contact:
Robert Mercer, 310-726-4683
rgmercer@directv.com
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20 years ago
New Embedded KVH TracVision Automotive Satellite TV System Featured on Cadillac Limo
Monday March 21, 7:30 am ET
Cadillac Escalade Executive Edition (ESVe) Limo is First Vehicle Equipped with Embedded Satellite TV System, Offering a Sleek Profile and 125+ Channels of Live DIRECTV Service in the Car
MIDDLETOWN, R.I.--(BUSINESS WIRE)--March 21, 2005-- KVH Industries, Inc., (Nasdaq: KVHI - News) and Cadillac have redefined luxury and executive transportation with the first-ever 40" stretch version of the best-selling, large luxury Cadillac Escalade sport utility vehicle. This stunning new vehicle made its debut at the 2005 Limousine and Chauffeured Transportation (LCT) Show in Las Vegas, Nevada, and is now featured in Cadillac's display at the New York International Auto Show. The vehicle features a prototype of KVH's embedded TracVision® satellite television antenna system, the next step in the evolution of the innovative TracVision A5, winner of the 2004 General Motors (NYSE: GM - News) "Most Innovative Product Design" Award. The in-motion TracVision A5 is the only way to get live satellite TV programming in automobiles from DIRECTV (NYSE: DTV - News) while traveling on open roads across the United States.
"The embedded KVH TracVision will allow us to offer satellite TV function in a sleek configuration that rises only a few inches above the roofline. We think this integrated design will be pleasing to our customers," said Jim Taylor, general manager of Cadillac. "This version of the TracVision antenna blends well with the design of our vehicles."
The embedded system is a variant of KVH's roof-mounted TracVision A5. While the TracVision A5 sits on either a roof rack or is mounted directly to the roof of the automobile, the new prototype system is embedded into the roof of the vehicle, creating a sleek profile. The prototype embedded TracVision incorporates improved motor and bearing technology to make the system even quieter than previous TracVision models. Like the TracVision A5, the embedded system will offer 125+ channels of live, digital-quality DIRECTV® television programming and CD-quality music.
"The new stretch Cadillac Escalade is the first vehicle to be equipped with our next-generation TracVision system," said Robert Riedford, KVH's director of business development for satellite products. "We are pleased that Cadillac has given us this opportunity to showcase our embedded TracVision system in such a spectacular limousine platform. We continue to work with General Motors and other automakers to create near-term sales of TracVision A5 through their dealer networks and are optimistic about the use of next-generation embedded TracVision satellite TV systems in future OEM vehicles."
The TracVision A5 has been recognized throughout the past year for the impact it has made on the automotive market. On January 3, 2005, KVH and the TracVision A5 were honored with the Market Leadership Award from industry research firm Frost & Sullivan, recognizing KVH's pioneering efforts to develop and support the automotive satellite TV marketplace. KVH has also been named a finalist for the prestigious 2005 Automotive News PACE Award for the TracVision A5, as well as a Consumer Electronics Association "Design & Innovation Honoree," among others. Additionally, Cadillac displayed a TracVision A5-equipped Escalade to more than 300 of its premier dealers during press events and festivities prior to Super Bowl XXXIX in Jacksonville, Florida.
Additional information regarding the TracVision A5 and KVH's complete line of mobile satellite TV systems can be found at http://www.tracvision.com.
Note to editors - High-resolution images of KVH's satellite products are available for download and editorial use at http://www.kvh.com/mediasupport.
KVH Industries, Inc., is the leading provider of in-motion satellite systems, having designed, manufactured, and sold more than 75,000 mobile satellite antennas for boats, RVs, trucks, buses and automobiles. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results realized by the company could differ materially from the statements made herein. Factors that might cause such differences include, but are not limited to: failure to develop and market products suitable for automotive manufacturer use; failure to gain the acceptance of or orders from automotive manufacturers for the TracVision A5; widespread consumer demand for satellite TV service in cars fails to develop; as well as those other factors discussed in KVH's most recent Form 10-K filed on March 16, 2005, with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=4846893
--------------------------------------------------------------------------------
Contact:
KVH Industries Contact:
Chris Watson, 401-847-3327
Corporate Communications Manager
cwatson@kvh.com
or
Cadillac Contact:
Kelly Wysocki, 313-665-6811
Communications Manager
kelly.wysocki@gm.com
or
Investor Relations Contact:
Financial Dynamics
Eric Boyriven, 212-850-5600
manny t
20 years ago
KVH TracVision A5 and Live Satellite TV Adds a New Level of Luxury to Limousines
Friday March 11, 7:30 am ET
Limo Company Owners Drive Home the Value of KVH's TracVision Satellite TV Antennas to their Business and Customers
MIDDLETOWN, R.I.--(BUSINESS WIRE)--March 11, 2005-- Limousine company owners know that a limo is more than just an automobile. It can be anything from a party on wheels to a mobile office. In both cases and for everything in between, the constant news and entertainment that live satellite TV brings is a top priority, keeping passengers in touch and up-to-date. Limo company owners around the country get the picture with TracVision® satellite TV antennas from KVH Industries, Inc., (Nasdaq: KVHI - News). The TracVision A5 provides access to 125+ channels of live satellite TV programming from DIRECTV (NYSE: DTV - News) and was the recipient of the 2004 "Most Innovative Product Design" Award from General Motors (NYSE: GM - News).
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Arnaldo Ricciulli, owner of Florida-based Millenium Limo, Inc., currently has the TracVision A5 antenna installed on his three stretch Hummer H2 limousines, and he says he will not buy another limo without the TracVision.
"It's a selling point," Arnaldo says of the TracVision A5. "My customers get all excited about it and they complain if I show up with a vehicle that doesn't have it. It's definitely a must-have for all the vehicles I get in the future."
According to Arnaldo, Millenium Limo (www.hummerh2limo.com) offers live satellite TV because it is ideal for passengers who are on their way to sporting events, like football games or NASCAR races, because they never have to miss a minute of the pre- or post-game coverage. Live satellite TV also comes in handy when passengers traveling on business want to watch the news, weather and financial reports before boarding a flight.
Television in vehicles, especially in limousines, has been tried before. However, because over-the-air TV signals become distorted when received by a moving antenna, it has been a dubious experience filled with static and rolling pictures. To solve this problem and offer hundreds of channels of crystal-clear television, KVH built on its experiences in the marine and RV markets and developed the 5-inch high TracVision A5. This award-winning system uses KVH's hybrid phased-array technology (U.S. patents #6,856,300 and D493,164) to create an antenna with a rugged, sleek design suitable for vehicles traveling on open roads across the U.S.
"Mobile satellite television is desirable and the TracVision A5 is the only way to get it," said Ian Palmer, executive vice president of satellite sales for KVH. "Limousine manufacturers, dealers and companies recognize the benefits of offering satellite TV to their customers."
Kenneth Boyar, president of Texas-based LCW Automotive Corp. (www.lcwlimo.com), a leading certified limousine design and manufacturing company, knows well the advantage of live satellite TV in limousines. LCW has been designing and converting limousines for more than 30 years for limousine companies and dealers, as well as for private and corporate uses. In the past few years, Ken says, he has seen the growing demand of the mobile entertainment market, especially as it applies to limousines.
"I find that people want to be communicated with," Boyar says. "A lot of people use it during the day for news broadcasts and at the end of the day to watch something relaxing on their way home from work. We have been installing the TracVision A5 on the request of our customers, mainly on the SUV side, because the system is ideal for SUVs. Plus, we have found that the installation is simple, and customer satisfaction is quite high."
The TracVision A5 antenna is designed for easy installation and is compatible with most factory-installed and aftermarket roof racks. KVH also offers a tamper-resistant roof mount system for vehicles without roof racks.
The TracVision A5's impact on the automotive market has not gone unrecognized. In addition to the GM award, the company received the Market Leadership Award from industry research firm Frost & Sullivan, which recognized KVH's pioneering efforts to develop and support the automotive satellite TV marketplace. KVH has also been named a finalist for the prestigious 2005 Automotive News PACE Award, as well as a Consumer Electronics Association "Design & Innovation Honoree," among others.
Complete details on the TracVision A5 and KVH's entire line of award-winning mobile satellite TV antenna systems can be found at http://www/tracvision.com.
Note to editors - High-resolution images of KVH's TracVision satellite TV products are available for download and editorial use at http://www.kvh.com/mediasupport.
KVH Industries, Inc., is the leading provider of in-motion satellite systems, having designed, manufactured, and sold more than 75,000 mobile satellite antennas for mobile applications on boats, RVs, trucks, buses and automobiles. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; and customer preferences, requirements and expectations. The actual results could differ. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.
--------------------------------------------------------------------------------
Contact:
KVH Industries
Chris Watson, 401-847-3327
cwatson@kvh.com
or
Investor Relations Contact:
Financial Dynamics
Eric Boyriven, 212-850-5600
manny t
20 years ago
KVH Awarded U.S. Patent for Award-winning TracVision A5 Hybrid Phased-array Antenna
Tuesday March 8, 7:30 am ET
New Patent Recognizes TracVision A5's Patch Antenna Design, Component in Low-profile Automotive Satellite TV System
MIDDLETOWN, R.I.--(BUSINESS WIRE)--March 8, 2005-- KVH Industries, Inc., (Nasdaq: KVHI - News) announced today that it has been awarded U.S. patent #6,856,300, "Feed Network and Method for an Offset Stacked Patch Antenna Array." This technology is a key component in the hybrid phased-array antenna used in KVH's innovative in-motion TracVision® A5 satellite TV system for automobiles. The TracVision A5 provides access to 125+ channels of live satellite TV programming from DIRECTV (NYSE: DTV - News) and was the recipient of the 2004 "Most Innovative Product Design" Award from General Motors (NYSE: GM - News).
"The technology outlined in this patent has allowed us to create a flat panel antenna system that is at the heart of the TracVision A5, one of the premier satellite TV antennas in KVH's family of products," said Kal Ganesan, KVH's vice president of engineering. "While phased-array antennas have been available in the military environment for a number of years, the cost has prohibited them from entering the mainstream market. Our new patented technology and other innovations enabled KVH to create a hybrid phased-array antenna that is affordable to consumers and brings outstanding satellite TV entertainment into cars."
The TracVision A5 is a low-profile satellite TV antenna designed specifically for passenger vehicles. The 5-inch high TracVision A5 uses KVH's hybrid phased-array technology to create an antenna with a rugged, sleek design suitable for anything from conversions vans and SUVs to minivans and other vehicles. The TracVision A5 antenna is designed for easy installation and is compatible with most factory-installed and aftermarket roof racks. KVH also offers a tamper-resistant roof mount system for vehicles without roof racks. In July, 2004, KVH was awarded U.S. Design Patent #D493,164, "Mobile Antenna," for the design of the TracVision A5. A number of additional technology patents are also pending.
The award-winning TracVision A5 opened the automotive market to mobile satellite TV service, allowing travelers to enjoy digital-quality DIRECTV® programming on open roads across the United States. Shipping since September 2003, the TracVision A5 reached consumers just as the demand for passenger entertainment systems began to intensify in the automotive marketplace. Passenger entertainment is now among the most popular automotive accessories on the market today, with more than one-third of 2004 model year SUVs and minivans sold in the U.S. equipped with in-vehicle video screens, according to J.D. Power and Associates. Industry analyst Frost & Sullivan projects that by 2011, more than 36 million automobiles in the U.S. will be equipped with video systems and of these, more than 3 million will receive mobile satellite TV programming.
The TracVision A5's impact on the automotive market has not gone unrecognized. In addition to the GM award, the company received the Market Leadership Award from industry research firm Frost & Sullivan, which recognized KVH's pioneering efforts to develop and support the automotive satellite TV marketplace. KVH has also been named a finalist for the prestigious 2005 Automotive News PACE Award, as well as a Consumer Electronics Association "Design & Innovation Honoree," among others.
Additional information regarding the TracVision A5 and KVH's complete line of mobile satellite TV systems can be found at http://www.tracvision.com.
Note to editors - High-resolution images of KVH's satellite products are available for download and editorial use at http://www.kvh.com/mediasupport.
KVH Industries, Inc., is the leading provider of in-motion satellite systems, having designed, manufactured, and sold more than 75,000 mobile satellite antennas for mobile applications on boats, RVs, trucks, buses and automobiles, more than any other company. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results could differ materially. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.
--------------------------------------------------------------------------------
Contact:
KVH Industries
Chris Watson, Corporate Communications Manager
401-847-3327
cwatson@kvh.com
or
Investor Relations:
Financial Dynamics
Eric Boyriven
212-850-5600
--------------------------------------------------------------------------------
Source: KVH Industries
manny t
20 years ago
KVH Honored With Frost & Sullivan Market Leadership Award for Automotive Satellite TV
Monday January 3, 7:30 am ET
Award Cites KVH's Successful Development, Introduction, and Sales of Low-profile TracVision A5 Satellite TV Antenna
MIDDLETOWN, R.I.--(BUSINESS WIRE)--Jan. 3, 2005-- KVH Industries, Inc., (Nasdaq: KVHI - News) was honored with the first-ever Frost & Sullivan Award for Market Leadership in the North American automotive satellite television market. The award, given by Frost & Sullivan, a leading independent global growth consulting company, recognizes KVH's "technical and marketing competencies that have resulted in the successful development and introduction of the ultra-low profile TracVision® A5 satellite antenna and receiver system," in addition to the company's successful efforts to establish a national retail network and expand its strategic relationship with DIRECTV, Inc., to encompass automotive applications.
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"KVH Industries has exhibited leadership in terms of innovation, product development and entrepreneurship to enter and develop the very nascent mobile satellite television market," said Sandeep Kar, an industry analyst with Frost & Sullivan. "Frost & Sullivan recognizes KVH Industries' leadership in developing and driving the North American automotive satellite television system market, and expects KVH to maintain its leadership position in the market for the foreseeable future."
The Frost & Sullivan Market Leadership Award is given to companies that have exhibited leadership through the identification of market challenges and a corresponding development and implementation of a successful market strategy. In its announcement, Frost & Sullivan cited several factors that contributed to KVH's market leadership, including: the advantage of being the first mover in the market; establishing brand equity through early market leadership; recognition of its product's strengths by automakers; the strategic relationship and marketing support from DIRECTV; and the company's overall market strategy of seeking to penetrate the original equipment market through leadership in the aftermarket.
Commenting on the award, Martin Kits van Heyningen, president and chief executive officer of KVH Industries said, "We are extremely pleased that Frost & Sullivan has recognized KVH as the pioneer of automotive mobile satellite television. Several years ago, we anticipated that the growing popularity of video screens in cars could potentially drive a corresponding demand for live TV on these screens. Building on our experience producing almost 75,000 mobile satellite antennas for the marine and RV markets, we aggressively pursued the emerging automotive opportunity. This prestigious award recognizes our success to date in meeting that demand as well as KVH's longtime reputation as a leading provider of innovative mobile satellite communications products."
The TracVision A5, which began shipping to consumers in September 2003, has opened the automotive video market to mobile DIRECTV® service with KVH's hybrid phased-array antenna technology (patents pending). TracVision A5 is practical and affordable for use aboard an SUV, minivan, or other passenger vehicle. The system works exclusively with the DIRECTV TOTAL CHOICE® MOBILE programming package and is the only product authorized by DIRECTV to provide this service in automobiles.
The Frost & Sullivan Market Leadership Award in the North American automotive satellite television market is the latest in a series of awards bestowed upon KVH. The TracVision A5 recently received the General Motors 2004 Innovative Product Award and was named a finalist for the prestigious 2005 Automotive News PACE Award. Additionally, KVH's line of marine TracVision products have won the National Marine Electronics Association "Best Product" Award for the past seven consecutive years. Details regarding KVH's entire line of TracVision products are available at http://www.tracvision.com.
Note to editors: High-resolution images of the TracVision A5 system are available for download and editorial use at http://www.kvh.com/mediasupport.
Frost & Sullivan (www.frost.com), a global growth consulting company founded in 1961, partners with clients to create value through innovative growth strategies. The foundation of this partnership approach is its Growth Partnership Services platform, whereby the organization provides industry research, marketing strategies, consulting, and training to its clients to help grow their business. A key benefit that Frost & Sullivan brings to its clients is a global perspective on a broad range of industries, markets, technologies, econometrics, and demographics. With a client list that includes Global 1000 companies, emerging companies, as well as the investment community, Frost & Sullivan has evolved into one of the premier growth consulting companies in the world.
manny t
20 years ago
Sherrod Vans to Offer KVH TracVision A5 as Option on Premier Conversion Vehicles
Monday December 13, 2:42 pm ET
Provides Access to Over 125 Channels of DIRECTV Programming with KVH's Low-profile, In-motion Satellite TV Antenna
MIDDLETOWN, R.I.--(BUSINESS WIRE)--Dec. 13, 2004-- Sherrod Vans, one of the premier high-end van converters in the industry, has chosen the TracVision® A5 low-profile satellite TV antenna from KVH Industries, Inc., (Nasdaq: KVHI - News) as an option for its new vehicles. Customers can now bask in the luxury of their conversion vans with spacious interiors and inviting seats while enjoying 125+ channels of live DIRECTV® programming on their big-screen TVs, in addition to commercial-free, digital-quality music. All the comforts of home are available on open roads across the country.
"There is definitely a growing interest in satellite television on the road," said Rik Bonner, service and purchasing manager for Sherrod Vans. "We are always looking to add value to our vans. We recently came out with a top-of-the-line 30" TV in some of our vehicles and that definitely deserves more than just a VCR. The TracVision satellite system sets it off very well, you get a great picture and you don't lose anything once you leave the city. It keeps the kids entertained on long drives!"
The TracVision A5 is a low-profile satellite TV antenna designed for passenger vehicles. It is the only in-motion satellite TV system for automobiles currently in production and available to consumers across the country. The 5-inch high TracVision A5 uses KVH's hybrid phased-array technology (patents pending) to create an antenna with a rugged, sleek design suitable for anything from conversions vans and SUVs to minivans and other vehicles. The TracVision A5 antenna is designed for easy installation and is compatible with most factory-installed and aftermarket roof racks. KVH also offers a tamper-resistant roof mount system for vehicles without roof racks.
"Passenger entertainment systems in vehicles are becoming increasingly popular and the TracVision A5, with its low-profile design, is ideal for conversion vans," said Ian Palmer, KVH's vice president of satellite sales. "We are extremely pleased that Sherrod, one of the leading van converters in the industry, has chosen to offer the TracVision A5 as an option for many of its new vehicles. I am certain that Sherrod's customers will embrace the luxury and variety of having more than 125 live DIRECTV channels of programming available to them virtually wherever they go."
Among its most recent honors, the TracVision A5 won the GM 2004 Innovative Product Award and is a finalist for the prestigious 2005 Automotive News PACE Award. Complete details regarding the TracVision A5 are available at http://www.tracvision.com.
Note to editors - High-resolution images of KVH's satellite products are available at http://www.kvh.com/mediasupport.
Founded in 1979, Sherrod Vans (www.sherrodvans.com) has pioneered many of the designs, production techniques and marketing strategies used in the conversion industry today. Sherrod is home to over 150 employees and is based in Jacksonville, Florida.
KVH Industries, Inc., is the leader in designing and manufacturing satellite television antennas for mobile applications on land or sea. More customers use mobile TracVision antennas on their boats, RVs, trucks, buses, and automobiles than any other competing product. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; and customer preferences, requirements and expectations. The actual results could differ. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.
--------------------------------------------------------------------------------
Contact:
KVH Industries Contact:
Chris Watson, 401-847-3327
Corporate Communications Manager
cwatson@kvh.com
or
Investor Relations Contact:
Financial Dynamics
Eric Boyriven, 212-850-5600
manny t
20 years ago
KVH TracVision Tops RV Owners' Wish Lists, According to RV View Magazine
Friday December 10, 7:30 am ET
Camping World's President's Club Members Name TracVision Satellite TV Systems the #1 Item They Want to Improve Life on the Road
MIDDLETOWN, R.I.--(BUSINESS WIRE)--Dec. 10, 2004-- Recreational vehicle owners know what they want and at the top of their wish list is the TracVision® family of satellite TV antennas from KVH Industries, Inc. (Nasdaq: KVHI - News), according to RV View Magazine. The magazine surveyed members of leading retailer Camping World's prestigious President's Club to identify the top 10 items they would choose to improve their life on the road. With easy access to more than 300 channels of live satellite TV and over 50 channels of commercial-free, digital-quality music available on the go, it's no wonder they chose KVH's TracVision antennas as the number one item on their list.
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Commenting on the popularity and appeal of TracVision satellite TV systems, Ian Palmer, KVH's executive vice president for satellite sales, remarked: "Every RV owner wants the comforts and conveniences of home without a hassle and TracVision satellite TV systems give them that luxury with unmatched entertainment options, a wide selection of systems to suit any lifestyle, and outstanding reliability. Our antennas are built to meet the highest international quality standards and their innovative designs completely protect the antennas from the weather and debris that is met on the road. We at KVH are proud to be selected by discerning RV owners across the country as the number one luxury item they would chose to make their life on the road more pleasurable and entertaining."
KVH TracVision antennas include a variety of in-motion, stationary, and low-profile designs to meet the needs of virtually any RV owner. KVH's great value systems - the in-motion TracVision L2 and stationary TracVision S2 - offer rugged design, outstanding value and the industry's highest gain (signal strength) to ensure the best reception of the most popular satellite TV services throughout the U.S. and Canada. KVH's premier systems - the in-motion TracVision L3 and the stationary TracVision S3 - are Digital Video Broadcast (DVB®)-compatible satellite TV systems offering the fastest satellite acquisition available, ultra-convenient automatic satellite switching and the industry's highest gain. All four models are fully compatible with DIRECTV®, DISH Network(TM), and ExpressVu satellite services.
The newest member of the family is the award-winning, low-profile TracVision A5. Standing only 5" high, TracVision A5 provides uninterrupted reception of satellite TV signals on open roads across the continental U.S. and is ideal for in-motion use and on vehicles with height restrictions. The TracVision A5 includes a deluxe, 12-volt satellite receiver that is compatible with any in-vehicle video system. All of the TracVision products boast the latest tracking technology backed by KVH's more than 10 years of experience designing and building in-motion satellite TV systems for boats and RVs.
Details regarding KVH's complete line of TracVision satellite TV antennas are available at http://www.tracvision.com.
Note to editors: High-resolution images of KVH's TracVision satellite TV products are available at http://www.kvh.com/mediasupport for download and editorial use.
Camping World (www.campingworld.com) is the world's largest retailer of RV accessories, supplies and services, with 30 locations and more than 20 million catalogs, sale flyers and other mail pieces distributed annually. RV View is the official publication of Camping World's esteemed President's Club.
KVH Industries, Inc., is the leader in designing and manufacturing satellite television antennas for mobile applications on land or sea. More customers use mobile TracVision antennas on their boats, RVs, trucks, buses, and automobiles than any other competing product. An ISO 9001-certified company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic and military navigation product manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; and customer preferences, requirements and expectations. The actual results could differ. Factors that may cause such differences include, among others, those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.
DVB® is a registered trademark of the DVB Project.
--------------------------------------------------------------------------------
Contact:
KVH Industries
Chris Watson, 401-847-3327
Corporate Communications Manager
cwatson@kvh.com
or
Investor Relations:
Eric Boyriven, 212-850-5600
Financial Dynamics
--------------------------------------------------------------------------------
Source: KVH Industries
manny t
20 years ago
KVH Receives $1.2 Million in Orders for Fiber Optic Gyro Systems
Tuesday November 23, 7:30 am ET
MIDDLETOWN, R.I.--(BUSINESS WIRE)--Nov. 23, 2004--KVH Industries, Inc., (Nasdaq: KVHI - News) announced today that it has received $1.2 million in new orders for its high-performance fiber optic gyro (FOG) systems. The FOGs included within these orders will be used to provide support for a range of defense-related applications, including stabilization and pointing of remote gun turrets and precision navigation and guidance. These orders are largely scheduled for shipment in 2005.
"The steady growth in orders and backlog for our fiber optic product line clearly illustrates the success we are achieving as we strengthen our foothold in the military and commercial marketplaces," commented Dan Conway, vice president of business development. "Our fiber optic solutions offer a compelling combination of affordability, precision, accuracy, and durability, each of which is critical for success in new applications as well as for use as form, fit, and function replacements for existing mechanical or higher-cost fiber optic gyros."
KVH FOG products, such as the DSP-3000 FOG and TG-6000 inertial measurement unit (IMU), are used in diverse commercial and defense-related applications. Military applications include IMUs for torpedoes, precision tactical navigation systems for military vehicles, and image stabilization and synchronization for shoulder- or tripod-mounted weapon simulators. Platforms that depend on KVH FOGs include the U.S. Army Ground Prophet next-generation signal intelligence vehicle; the Javelin, Stinger, and ITAS weapons training simulators; stabilization systems for naval radar and missile defense systems, among others. KVH FOGs have also been used in such commercial applications as train location control and track geometry measurement systems, industrial robotics, stabilization of TV cameras, and KVH's own premier TracVision G8 mobile satellite TV antenna.
KVH digital signal processing (DSP) FOGs employ an all-fiber design that ensures high reliability, superior performance, and exceptional vibration, shock, and acceleration performance and survivability. They deliver precision stabilization and tracking capabilities for turret, antenna, and optical stabilization systems. With no moving parts to maintain or replace, KVH's DSP FOGs last longer than mechanical gyros, perform better, and can yield a significantly lower lifetime cost. KVH's DSP electronics improve performance in such critical areas as scale factor and bias versus temperature, scale factor linearity, turn-on to turn-on repeatability, and maximum input rate. The breakthrough DSP design (covered by multiple patents, including U.S. Patent #6,429,939, "DSP Signal Processing for Open Loop Fiber Optic Sensors") overcomes the limitations of analog signal processing, virtually eliminating temperature-sensitive drift and rotation errors.
manny t
20 years ago
PRESS RELEASE: KVH Awarded Design Patent for TracVision A5 Low-profile Satellite TV Antenna
--------------------------------------------------------------------------------
Fri Jul 30 07:31:10 2004 EST
MIDDLETOWN, R.I.--(BUSINESS WIRE)--July 30, 2004--
U.S. Patent and Trademark Office Recognizes
Automotive Satellite TV Antenna's Innovative Design
KVH Industries, Inc., (Nasdaq: KVHI) announced today that it has been awarded
U.S. Design Patent #D493,164, "Mobile Antenna," for the design of its
low-profile TracVision A5 satellite TV antenna for automobiles and other
passenger vehicles.
"The 5-inch high TracVision A5 offers a rugged, sleek design that houses our
innovative hybrid phased-array antenna technology," commented Jim Dodez, KVH's
vice president of marketing. "During the development of this product, we
overcame the technical hurdles of inventing an affordable, flat in-motion
satellite TV antenna. However, we also faced the challenge of designing a
housing that offered a streamlined, advanced look that would appeal to
consumers, mount easily to virtually any vehicle, and be able to withstand
rigors of the road. Our team created a design that met each of these
challenges."
The TracVision A5 is designed specifically for use in passenger vehicles and
offers the option of either a roof rack or rooftop mounting system for added
versatility. It uses KVH's hybrid phased-array antenna technology and works
exclusively with DIRECTV(R) satellite TV programming. The TracVision A5 is the
only low-profile, in-motion satellite TV system for automobiles that is
currently available to consumers in the United States. It was recently named a
Design and Engineering Honoree by the Consumer Electronics Association during
the 2004 International Consumer Electronics Show. In addition, the TracVision
A5 was a finalist in Product Design and Development Magazine's 2003 Engineering
Awards.
"The TracVision A5 is one of the premier satellite TV antennas in KVH's
family of products and remains the only low-profile satellite TV system
available specifically for use on SUVs, minivans, and other passenger
vehicles," concluded Dodez. "This patent is the first to be granted for the
TracVision A5's design and antenna technology, and is based on one of the
several TracVision A5 patent applications currently under consideration.
Patents such as this contribute significantly to our competitive advantage and
serve to discourage copycat designs that could confuse consumers and the
marketplace."
Additional information regarding the TracVision A5 and KVH's complete line of
mobile satellite TV systems can be found at http://www.tracvision.com.
High-resolution, press-ready images of the TracVision A5 are available for
download and editorial use at
http://www.kvh.com/tracvision/TVA5_MediaImages.asp.
KVH Industries, Inc., is the leader in designing and manufacturing satellite
television antennas for mobile applications on land or sea. An ISO
9001-certified company, KVH has headquarters in Middletown, Rhode Island, with
a fiber optic and military navigation product manufacturing facility in Tinley
Park, Illinois, and a European sales, marketing, and support office in
Kokkedal, Denmark.
This release may contain certain forward-looking statements that involve
risks and uncertainties. Forward-looking statements include, for example, the
functionality, characteristics, quality and performance of KVH's products and
technology; anticipated innovation and product development; and customer
preferences, requirements and expectations. The actual results could differ.
Factors that may cause such differences include, among others, those discussed
in KVH's most recent Form 10-Q filed with the SEC. KVH assumes no obligation to
update its forward-looking statements to reflect new information or
developments.
CONTACT: KVH Industries, Inc.
Chris Watson, 401-847-3327
cwatson@kvh.com
or
Investor Relations Contact:
Financial Dynamics
Kellie Nugent, 212-850-5600
KEYWORD: RHODE ISLAND ILLINOIS DENMARK INTERNATIONAL EUROPE
INDUSTRY KEYWORD: AUTOMOTIVE TELECOMMUNICATIONS NETWORKING
HARDWARE COMPUTERS/ELECTRONICS PRODUCT
SOURCE: KVH Industries, Inc.
(END) Dow Jones Newswires
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