KVH Industries Inc - KVHI STOCK NEWS

KVH Industries has launched the P-1750 and P-1725 Inertial Measurement Units (IMUs), enhancing its existing P-1775 IMU line with advanced performance tailored to autonomous technology applications. These IMUs utilize KVH's patented photonic integrated chip (PIC) technology, providing superior drift and noise performance, ultimately offering over ten times higher accuracy than standard options. Designed for diverse applications like autonomous trucks and drones, these products aim to meet the growing demands of various industries, including transportation and military.

KVH Industries announced enhancements to its AgilePlans Regional solution for smaller commercial vessels, now offering data speeds up to 6 Mbps down and 2 Mbps up, alongside worldwide coverage. This Connectivity as a Service model requires no commitment and allows installation across 4,000 ports. The update aims to improve operational efficiency by transitioning from slower L-band systems to faster VSAT services. The AgilePlans framework aims to support digitalization in maritime operations through better connectivity, thereby enhancing decision-making in areas like fuel optimization and route planning.

KVH Industries has launched the TracPhone V30, a compact Ku-band VSAT antenna, at the Palm Beach International Boat Show. The device offers data speeds of 6 Mbps down and 2 Mbps up, designed for both leisure and commercial vessels. Notable features include a single-cable installation, integrated modem for better signal efficiency, and a streamlined belowdecks unit with built-in Wi-Fi. Priced from $99 per month, it aims to enhance connectivity for boaters and operators while disrupting the market by replacing traditional L-band systems with high-speed solutions.

KVH Industries has announced a partnership with Tile Marine to enhance maritime services through KVH Watch connectivity. This collaboration enables remote monitoring and troubleshooting for vessels, addressing connectivity challenges faced in the marine industry. Tile Marine, a leader in electrical and mechanical services, believes this service will greatly enhance customer satisfaction by providing reliable data transfer. This partnership is aimed at improving operational efficiencies and reducing time and costs during vessel operations and regulatory activities.

KVH Industries has upgraded its TACNAV 3D tactical navigation system with new photonic integrated chip (PIC) technology. This enhancement features the P-1775 inertial measurement unit (IMU), offering improved bias stability and 20 times higher accuracy than conventional MEMS units. The TACNAV systems provide critical navigation solutions for various military vehicles and are utilized by the U.S. Army, Marine Corps, and allied countries. The upgrade aims to meet military demands for assured positioning, navigation, and timing (A-PNT) solutions.

VIEX Capital Advisors, owning approximately 3.4% of KVH Industries' stock, has nominated John Mutch and Eric Singer for election as Class I Directors at the upcoming 2021 annual meeting. The firm criticizes the current board for inadequate governance and poor stock performance, highlighting that KVH's total shareholder returns have consistently lagged behind major indices over various time periods. VIEX believes that refreshing the board with independent directors is essential to unlock stockholder value and improve corporate governance mechanisms.

KVH Industries, Inc. (Nasdaq: KVHI) announced the appointment of Roger A. Kuebel as the new Chief Financial Officer, effective March 8, 2021. Kuebel brings over 17 years of senior financial leadership experience from technology companies such as Seaborn Networks and Aspen Technology. CEO Martin Kits van Heyningen expressed confidence in Kuebel's ability to enhance financial planning and operational efficiency. The transition comes as KVH aims to continue its focus on profitability and innovation.

KVH Industries reported a 4% revenue increase to $44.1 million for Q4 2020, with AgilePlans revenue up over 53%. Net loss was $11.6 million, largely due to a $10.5 million impairment charge. Non-GAAP net income stood at $1.3 million, while adjusted EBITDA increased to $3.5 million. Despite pandemic challenges, the company saw healthy performance in TACNAV sales and expects mid-to-high single-digit revenue growth for the full year 2021. The firm continues to focus on cost containment and technological advancements, indicating a positive outlook going forward.

KVH Industries will announce its financial results for Q4 and the fiscal year ending December 31, 2020, on March 2, 2021. The announcement will be followed by an investor conference call at 9:00 a.m. ET, hosted by CEO Martin Kits van Heyningen and COO/CFO Brent Bruun. A live broadcast will be accessible at investors.kvh.com, with a replay available for two weeks post-call. Established in 1982 and based in Middletown, RI, KVH is a leader in mobile connectivity and inertial navigation systems.