KVH Industries Inc - KVHI STOCK NEWS

KVH Industries reported a 17% increase in total revenues for the second quarter of 2021, reaching $43.4 million compared to $36.9 million in Q2 2020. AgilePlans revenue surged 54%, now comprising 44% of the mini-VSAT subscriber base. Despite revenue growth, the company recorded a net loss of $5.7 million or $0.31 per share, worsening from $3.6 million or $0.20 per share a year prior. Non-GAAP adjusted EBITDA hit $1.5 million, improving from breakeven in Q2 2020. The outlook suggests mid to high single-digit revenue growth for the full year, with a focus on transitioning to the HTS network.

KVH Industries will announce its second-quarter financial results for the period ending June 30, 2021, on July 30, 2021. The announcement will be followed by an investor conference call at 9:00 a.m. ET, featuring CEO Martin Kits van Heyningen and CFO Roger Kuebel. Investors can access the live broadcast at investors.kvh.com, with a replay available for two weeks. Founded in 1982, KVH focuses on mobile connectivity and inertial navigation systems, serving global markets from its various locations.

KVH Industries announced a significant milestone in its AgilePlans service rollout, providing reliable VSAT connectivity to RIX Shipmanagement's fleet. Initial installations for four vessels have been completed, with an additional 25 planned by Q2 2022. The subscription-based program includes a variety of communication systems aimed at optimizing vessel performance and crew welfare. This shift from legacy systems to advanced VSAT solutions is crucial for improving operational efficiency in the maritime industry.

KVH Industries has partnered with StratumFive, a voyage informatics specialist, to enhance the KVH Watch connectivity service, aimed at improving data transmission from vessels to onshore experts. This collaboration will optimize vessel tracking, routing, safety, fuel consumption, and emissions monitoring. Through KVH Watch's high-speed satellite connectivity, StratumFive's Podium platform will facilitate real-time remote support and interventions, further advancing maritime operational efficiencies. This initiative aligns with increasing digitalization in the maritime sector.

KVH Industries has partnered with Anglo-Eastern to provide a special sports content subscription for their fleet during the European soccer championships and the Summer Games. The KVH NEWSlink service will deliver daily updates, including results, reports, and quizzes, to seafarers regardless of vessel satellite equipment. This initiative aims to enhance crew morale after challenging times due to the pandemic. The content is accessible via KVH’s KVH Link platform, which improves wellbeing by providing news and entertainment.

KVH Industries (Nasdaq: KVHI) has announced the preliminary results of its 2021 annual shareholder meeting, revealing that nominees Cielo Hernandez and Cathy-Ann Martine-Dolecki have been elected to the Board of Directors. This election is seen as a reflection of positive momentum and the effectiveness of the company's long-term strategy. While KVH expresses gratitude for shareholder engagement, it acknowledges the need for further efforts to enhance shareholder value. Final voting results will be reported after certification.

KVH Industries has launched the TracPhone LTE-1 Global marine communications system, enhancing Internet connectivity for recreational boaters and commercial mariners in over 150 countries.

Utilizing LTE Advanced technology, the system allows for connectivity up to 20 miles offshore and supports various applications like streaming and messaging.

With a compact design and easy installation, this new system aims to meet the growing demand for reliable mobile Internet solutions for a wide range of vessels.

The VIEX-led investor group has issued a statement criticizing KVH Industries' recent director candidate Q&A. They are seeking to elect their nominees, John Mutch and Eric Singer, to the Board at the Annual Meeting on June 17, 2021. The group claims that KVH's Q&A is misleading and designed to gain favor with institutional investors. They question the governance practices at KVH, highlighting excessive proxy fight expenses and familial ties within the company. VIEX emphasizes their nominees' qualifications and urges stockholders to vote using the white proxy card.

KVH Industries (Nasdaq: KVHI) announced a Q&A session with director nominees Cielo Hernandez and Cathy-Ann Martine-Dolecki ahead of its annual meeting on June 17, 2021. The nominees highlight their extensive industry experience, with Cielo emphasizing her maritime sector expertise and Cathy discussing her telecom background, both aiming to enhance KVH's growth and governance. KVH advocates for shareholders to support its nominees over the competing VIEX candidates, citing concerns about VIEX's nominees' track records and emphasizing the importance of continuity in KVH's positive momentum.