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 release its financial results for the fourth quarter and fiscal year that ended on December 31, 2022, on March 16, 2023. The announcement will be accompanied by an investor conference call at 9:00 a.m. ET, led by Brent Bruun, CEO, and Roger Kuebel, CFO. Interested parties can access the live call at investors.kvh.com. A replay will be available for two weeks post-call. KVH Industries is a leader in mobile connectivity, offering maritime VSAT and services globally, with operations based in Middletown, RI.
KVH Industries received the 2023 SMART4SEA Connectivity Award for its innovative TracNet hybrid connectivity terminals during the SMART4SEA Awards ceremony. The award recognizes KVH's commitment to enhancing vessel connectivity with its TracNet product line, which integrates satellite, cellular, and Wi-Fi technologies to ensure seamless communication for maritime fleets globally. TracNet terminals provide extensive satellite coverage of 276 million sq. km and offer VSAT speeds up to 20/3 Mbps. The company's focus on cybersecurity and multi-level network protection strengthens its service offerings.
KVH Industries, Inc. has announced a support agreement with Black Diamond Capital Management, nominating Stephen H. Deckoff as an independent director for the 2023 Annual Meeting. Deckoff will initially serve as a non-voting observer on the Board. As part of the agreement, Black Diamond has received approval to purchase up to 25% of KVH’s common stock. The company plans to accept the resignation of one current director at the upcoming meeting, maintaining a total of seven directors after Deckoff's election. KVH remains focused on its strategic plans, aiming to enhance long-term shareholder value.
KVH Industries has launched two new value-added services for maritime connectivity: KVH Managed Firewall and KVH Cloud Email. These services enhance cyber threat protection and provide secure email solutions for commercial vessels utilizing KVH’s TracNet and TracPhone systems. The KVH Managed Firewall utilizes Fortinet cybersecurity features and is available via a monthly subscription. The KVH Cloud Email service allows users to manage emails securely while at sea with 10 GB cloud storage per user. These additions aim to improve fleet efficiency, onboard communication, and crew wellbeing, aligning with KVH's commitment to innovation in maritime services.
KVH Industries, Inc. (Nasdaq: KVHI) announces that CEO Brent Bruun and CTO Robert Balog will present at the 25th Annual Needham Growth Conference on January 10, 2023, at 10:15 a.m. ET. The presentation will be available for live streaming on the company's investor website, investors.kvh.com, and an archived version will be accessible later the same day.
KVH is a leader in mobile connectivity and has been operational since 1982, offering innovative communication solutions globally.
KVH Industries, Inc. (Nasdaq: KVHI) reported its third-quarter financial results for 2022, highlighting a net income of $29.6 million, boosted by a $30.9 million gain from the sale of its inertial navigation business. Total revenues from continuing operations increased 2% to $35.2 million, driven by an 8% rise in mini-VSAT Broadband airtime revenue. However, net loss from continuing operations was $0.1 million, a decline from a $3.7 million profit in Q3 2021. Operating expenses decreased by $1.6 million, reflecting a 15% reduction in recurring costs since last year.
KVH Industries will announce its Q3 financial results for the period ending September 30, 2022, on December 6, 2022. The announcement will be followed by an investor conference call at 9:00 a.m. ET hosted by CEO Brent Bruun and CFO Roger Kuebel.
A live broadcast of the call can be accessed at investors.kvh.com. An audio replay will be available on the site for two weeks after the call. Investors may submit questions via email to IR@kvh.com.
KVH Industries has secured a contract worth up to $69 million from the U.S. Coast Guard to provide a next-generation satellite communications solution for its small cutter fleet, comprising over 140 vessels. This contract includes hardware, airtime, and global support and follows a competitive procurement process. KVH's TracPhone V7-HTS system will enhance connectivity for mission-critical applications. Additionally, approximately 20 new cutters are expected to join the fleet over the next five years, requiring further support.
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