KVH Industries Inc. today (oct. 31) company reported lower income on an increase in revenue for the company’s third quarter, ended Sept. 30. The global based company provides high-speed Internet, television, and voice services via satellite, including mobile satellite TV systems to the RV industry.
Sales during the third quarter totaled $40.2 million while net income was $1.4 million, or 9 cents per diluted share. That compared to net income of $1.7 million, or 12 cents per diluted share, and revenues of $38.8 million during the same period the previous year.
“The third quarter was highlighted with solid growth in our satellite service business,” said Martin Kits van Heyningen, KVH’s CEO. “We are now shipping our new TracPhone V-IP series terminals with their Integrated CommBox Modem providing onboard network management, VoIP calling, and Internet cafe services as a standard option on every product we ship. We continue to make good progress developing our new IP-MobileCast content delivery service, which will offer movies, television, news, and sports to our customers.”
For the nine months, revenue was $123.3 million, up 26% compared to $97.6 million in the year prior while GAAP net income totaled $4.9 million, or 32 cents per diluted share. Excluding the Headland Media acquisition-related costs, net of income tax benefit incurred in the second quarter, the company recorded non-GAAP net income of $5.6 million, or 37 cents per diluted share. During the same period last year, the company reported GAAP net income of $0.8 million, or 5 cents per diluted share.
To view the entire report click here.
KVH Industries Inc. has introduced TracVision R1, providing premium programming from DISH Network or DIRECTV to any RV traveling in the U.S., even while the vehicle is in motion.
“Adding satellite TV is an excellent way to make a motorhome truly feel like home,” says Jim George, KVH’s director of sales for satellite products. “The TracVision R1 allows you to enjoy your favorite shows, news, weather, sports and even cartoons with the grandkids in your RV just as you would in a traditional home. TracVision R1’s compact design and outstanding reliability make it a valuable addition to any vehicle, especially with KVH’s nationwide network of factory-certified dealers providing easy-to-find installation and service wherever you travel.”
Weighing just 7.5 lbs., the 13.5-inch TracVision R1 system offers in-motion performance typical of larger antennas while fitting the sleek exterior design of today’s RVs. The TracVision R1’s small size, easy setup, single-cable design, and Whisper Drive motor technology allow for convenient installation and simple operation.
The versatile TracVision R1 comes in two configurations to meet RVers’ preferences. The TracVision R1ST includes an exclusive, integrated 12V DIRECTV receiver/controller – just add a TV and your DIRECTV service subscription to bring standard-definition programming on the road. For those who prefer DISH Network or want the freedom to easily switch among satellite TV service providers, the TracVision R1DX offers outstanding flexibility with a 12V multiservice interface box/controller that supports virtually all home receivers from DISH Network and DIRECTV.
For more information click here.
KVH Industries Inc. today (Feb. 14) reported financial results for the quarter ended Dec. 31, 2010.
Revenue for the fourth quarter of 2010 was $27 million, up 3% from the quarter ended Dec. 31, 2009. Diluted earnings per share for the quarter totaled 2 cents on net income of $200,000. During the same period last year the company reported net income of $1.8 million or 13 cents per share, on revenues of $26.3 million.
For the year ended Dec. 31, 2010, revenue was $112.2 million, up 26% compared to $89.1 million for the year ended Dec. 31, 2009. KVH reported net income of $8.3 million or 56 cents on a per-share basis for the full year 2010. Excluding transaction costs associated with the acquisition of Virtek Communication, and a decrease to the deferred income tax asset valuation allowance, full year adjusted net income was $5.3 million, and adjusted diluted EPS was 36 cents. For 2009, the company reported a net loss of $100,000 or 1 cent per share.
“2010 was a milestone year for KVH as we grew our top line for the full year by 26% and passed $100 million in annual revenues for the first time. In addition, we increased our annual operating profit by more than $6 million compared to 2009. Our VSAT business accelerated with significant growth in subscribers, units shipped and major new long-term fleet contracts while in our commercial guidance and stabilization business we saw increasing demand for our inertial navigation systems,” explained Martin Kits van Heyningen, KVH CEO.
KVH Industries Inc. announced today (June 1) that Fleetwood RV Inc.has chosen KVH’s TracVision SlimLine series along with the premier TracVision R6 ST and R6 DX, to be the exclusive satellite TV option offered on its 2011 motorhomes.
TracVision systems are available to Fleetwood RV through RiverPark Inc., of Elkhart, Ind., a leading distributor of KVH’s satellite TV products for RVs.
“We have chosen to offer KVH antennas as the exclusive satellite TV option on our motorhomes because TracVision systems are some of the best in the industry, and we are committed to including the highest quality components and features in our motor homes,” explained John Draheim, Fleetwood president and CEO.
“Fleetwood RV is recognized throughout the RV industry both for the quality of its vehicles and the innovations it brings to its customers,” says Bob Cooper, KVH’s national sales manager for RV products. “We are extremely pleased to continue our long-standing relationship with Fleetwood RV and look forward to offering their dealers and customers the best blend of performance and value available in the RV industry.”
Fleetwood RV’s 2011 motorhomes will feature KVH’s TracVision SlimLine antennas, including the in-motion TracVision R5 SL and stationary, automatic TracVision R4 SL, as well as the premier TracVision R6 in-motion satellite TV family. These systems include thoughtful innovations like a compact 12-inch high design and on-screen messaging and diagnostics, plus advanced, patented electronic dew elimination technology with the TracVision R6 ST and R6 DX. Each of these all-digital systems provide in-motion access to more than 300 channels of digital TV programming and commercial-free music.
“As part of our long standing commitment to provide quality electronic components that meet the high expectations of today’s RV satellite entertainment customers, we feel KVH’s TracVision line is a true testament to quality and performance,” says Steve Bollero, vice president of operations for RiverPark.
For additional information about KVH’s award-winning TracVision satellite TV systems, visit http://www.tracvision.com.
KVH Industries Inc. has announced major price cuts for its TracVision satellite TV systems for the RV industry.
The price reduction applies to all of KVH’s 12″ high TracVision satellite TV systems.
The Middletown, R.I-based manufacturer has cut prices between $300 and $600 on its R4SL, R5Sl, R6ST and R6DX models, according to Bob Cooper, KVH national sales manager for land mobile products.
“RV owners are focused on refitting their current coaches and getting outstanding value when choosing the accessories they’ll take along,” said Cooper. “With KVH’s TracVision systems, you receive the industry’s highest quality satellite TV solutions with outstanding digital performance, a choice of in-motion or stationary designs and full compatibility with DIRECTV as well as DISH Network’s TurboHD and ExpressVu’s HDTV programming. Our new prices ensure that recreational vehicle enthusiasts receive the best satellite TV solution available at even more affordable prices, making TracVision the perfect combination for RV owners who are hitting the road in 2009.”
The new prices start at $999 for the R4SL and top out at $2,299 for the R6DX.
KVH is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured and sold more than 150,000 mobile satellite antennas for boats, RVs, trucks, buses and automobiles.