Welcome to our dedicated page for KVH Industries news (Ticker: KVHI), a resource for investors and traders seeking the latest updates and insights on KVH Industries stock.
KVH Industries Inc. (Nasdaq: KVHI) is a leading provider of global high-speed internet, television, and voice services via satellite to mobile users at sea, on land, and in the air. Headquartered in Middletown, RI, and founded in 1982, KVH delivers connectivity solutions through its renowned product lines such as TracPhone® for satellite communications and TracVision® for satellite television systems.
KVH's core offerings include the global mini-VSAT Broadband network and the innovative KVH ONE™ hybrid network, which integrates Ku-band GEO services, low earth orbit (LEO) services, 5G/LTE cellular communications, and shore-based Wi-Fi. This integration ensures seamless connectivity and intelligent network management for commercial, leisure, and military vessels.
KVH also encompasses KVH Media Group and Videotel. KVH Media Group provides licensed news, entertainment, and training content for various sectors including maritime, business, retail, and hospitality. Videotel specializes in high-quality e-learning training materials and management software for the maritime industry.
KVH's commitment to cutting-edge technology is evident in its advanced sensors, inertial navigation systems, and fiber optic gyros catering to defense and commercial guidance applications. These innovations support the company's mission to connect mobile users with the services they need, no matter where they are.
Recently, KVH has made significant strides in strategic partnerships and technological advancements. The company renewed its satellite services contract with Intelsat for three years, enhancing network capacity and reducing service costs. Additionally, a new partnership with Kognitive Networks will enhance KVH's connectivity terminals with state-of-the-art network and bandwidth management tools.
In terms of financial health, KVH continues to generate revenues from international markets, primarily from Singapore, Canada, European Union countries, and other regions across Africa, Asia/Pacific, and the Middle East. The company is currently undergoing a strategic realignment to become a more agile, solutions-driven provider by winding down its hardware manufacturing operations and focusing on integrated multi-orbit, multi-channel connectivity and services.
Despite the changes, KVH remains dedicated to delivering excellent value-added solutions to its customers. The company's diverse offerings and robust global service infrastructure ensure it continues to lead in mobile connectivity and maritime VSAT sectors.
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.
KVH Industries (Nasdaq: KVHI) has launched the P-1775 inertial measurement unit (IMU) equipped with its innovative PIC InsideTM photonic integrated chip technology, which enhances accuracy and simplifies production. The units have begun shipping, with initial customer integrations into advanced rocket launch vehicles. The PIC technology offers 20 times greater accuracy compared to MEMS IMUs and supports various autonomous applications. KVH aims to continue incorporating this technology across its product lines, indicating strong growth potential in the autonomous and navigation markets.
KVH Industries, Inc. (Nasdaq: KVHI) announced an expansion of its high-speed VSAT-based Internet of Things (IoT) services aimed at enhancing digitalization in the maritime sector. The updated offerings include KVH Watch IoT Connectivity as a Service, enabling maritime manufacturers and shipyards to access secure, 24/7 data from onboard equipment. Key features include Remote Expert Intervention for real-time remote support, high-performance connectivity, and IoT Inside solutions for vessel operations. These innovations aim to mitigate delays and enhance efficiencies, particularly during the COVID-19 pandemic, by utilizing advanced satellite technology.
MIDDLETOWN, R.I., May 19, 2020 – KVH Industries (Nasdaq: KVHI) will present at the 15th Annual Needham Virtual Technology & Media Conference on May 20, 2020, at 1:00 p.m. ET. CEO Martin Kits van Heyningen, CFO Donald Reilly, and COO Brent Bruun will represent the company. The presentation will be available via KVH's investor website, with an archive for later access. KVH Industries is a leader in mobile connectivity and inertial navigation systems, renowned for its maritime VSAT services and advanced sensor technologies.
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