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KVH Industries Inc (KVHI) provides cutting-edge satellite communications and connectivity solutions for maritime, land, and air applications worldwide. This page serves as the definitive source for all official company announcements, offering investors and industry professionals timely access to strategic developments.
Track critical updates including earnings reports, product launches, and technology partnerships that shape KVHI's role in mobile broadband, defense navigation, and hybrid satellite networks. Our curated feed ensures you stay informed about innovations like LEO integration and global service expansions.
Discover press releases covering KVHI's maritime connectivity solutions, inertial navigation systems, and media content licensing. All content is sourced directly from the company to maintain accuracy and compliance with financial disclosure standards.
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KVH Industries announced an expansion of its mini-VSAT Broadband HTS network, adding nearly 4 million square kilometers of coverage across Hudson Bay and the North Atlantic, including northeastern Canada, the Labrador Sea, Iceland, and Greenland. This enhancement is vital for commercial fishing fleets that depend on reliable satellite connectivity. The network now provides a total of 272 million square kilometers of coverage. KVH's solutions, including advanced antennas and maritime IoT offerings, enhance global connectivity for maritime operations.
KVH Industries announces the launch of its AgilePlans program in collaboration with Furuno in Japan, offering maritime VSAT connectivity through a monthly subscription model. This initiative eliminates large upfront costs and long-term commitments for commercial fleets. The service features high-speed internet via the mini-VSAT Broadband HTS network, available in approximately 4,000 locations. AgilePlans aims to enhance the speed of maritime digitalization and is backed by additional support services, including cybersecurity and maintenance.
KVH Industries reported a 5% increase in Q3 2020 revenues to $41.1 million compared to $39.3 million in Q3 2019. The company saw revenues for its AgilePlans, a Connectivity as a Service program, rise over 55% year-over-year, representing 35% of its mini-VSAT Broadband subscriber base. Net loss reduced to $0.5 million, or $0.03 per share, from a loss of $3.3 million, or $0.19 per share, in Q3 2019. Non-GAAP net income was $1.1 million, with adjusted EBITDA at $3.4 million. Operating expenses decreased by $2 million, signaling improved cost management amidst the ongoing impact of COVID-19.
KVH Industries (Nasdaq: KVHI) will announce its third-quarter financial results for the period ending September 30, 2020, on October 29, 2020. An investor conference call will follow at 9:00 a.m. ET, featuring CEO Martin Kits van Heyningen, CFO Donald Reilly, and COO Brent Bruun. The call will be live-streamed on investors.kvh.com, with an audio replay available for at least two weeks post-call. Questions can be submitted via email to IR@kvh.com.
Founded in 1982, KVH is a leader in mobile connectivity and inertial navigation systems, with operations in RI and IL.
KVH Industries, Inc. (Nasdaq: KVHI) announced that Chief Financial Officer Don Reilly will retire later this year. He will assist in the transition to his interim successor, Brent Bruun, effective November 2, 2020, who is also the Chief Operating Officer. The Board has started the search for a permanent CFO. During Reilly's tenure, KVH strengthened its market presence and pursued strategic growth opportunities. The company emphasizes that Bruun's financial skills will enhance productivity amid ongoing economic challenges.
KVH Industries has launched the TracVision TV10, a 1-meter ultra-high efficiency marine satellite TV antenna. It boasts the largest coverage footprint in the TracVision series and is designed for boat owners, charter yacht guests, and commercial crews to access live TV globally. The TV10 is the lightest in its class, weighing up to 10% less than competitors, and features advanced satellite acquisition technology. It supports HD and SD programming from various satellite TV providers, ensuring reliable coverage in remote areas.
KVH Industries (Nasdaq: KVHI) announced that its VSAT services are enhancing crew welfare and operational efficiency amid the COVID-19 pandemic. The YOURlink service allows Pacific Basin to swiftly share important videos with seafarers on its 116 vessels. A recent video addresses the challenges of crew changes due to port restrictions. KVH has also extended a 50% discount on data plan upgrades through December, which has driven demand for increased bandwidth amid heightened communication needs during the pandemic.
KVH Industries reported a 7% revenue decline to $36.9 million for Q2 2020 compared to Q2 2019, primarily due to drops in mobile connectivity sales. However, revenues from AgilePlans increased over 72%, contributing significantly to mini-VSAT Broadband shipments. The company experienced a net loss of $3.6 million, or $0.20 per share, slightly worse than the previous year's loss. Operating expenses decreased by $2 million to $16.4 million. Despite challenges from COVID-19, the company introduced new products and secured a military order worth over $10 million.
KVH Industries will announce its second-quarter financial results for the period ending June 30, 2020, on July 31, 2020. The company will host an investor conference call at 9:00 a.m. ET, featuring CEO Martin Kits van Heyningen, CFO Donald Reilly, and COO Brent Bruun.
A live broadcast will be accessible online at investors.kvh.com, and an audio replay will be available for two weeks post-call. Investors can send questions to IR@kvh.com.
KVH Industries has secured an order worth over $10 million for its TACNAV tactical navigation systems, intended for an international military customer. The systems are designed to deliver precise and reliable navigation even in conditions where GNSS signals are unavailable. All hardware deliveries are scheduled for 2020. This order reinforces KVH's position in the assured positioning, navigation, and timing market, with its products currently in use by various military forces, including the U.S. Army.
