Kvh Inds Inc Stock Price, News & Analysis

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 Inside^TM 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.