|Over a month ago|
VIEX Capital nominates two candidates for election to KVH Industries board » 09:0303/0403/04/21
VIEX Capital Advisors,…
VIEX Capital Advisors, who together with its affiliates beneficially own approximately 3.4% of the outstanding shares of common stock of KVH Industries, issued an open letter to stockholders and announced that it has nominated two highly-qualified directors, John Mutch and Eric Singer, for election as Class I Directors to the company's Board of Directors at the company's upcoming 2021 annual meeting of stockholders.
KVH Industries appoints Roger Kuebel as CFO » 06:1703/0203/02/21
KVH Industries (KVHI),…
KVH Industries (KVHI), announced that it has named Roger A. Kuebel as its new CFO. Brent Bruun will continue in his role as COO, but will relinquish his position as Interim CFO upon Mr. Kuebel's joining the Company on March 8. Kuebel has more than 17 years of senior finance leadership experience at technology companies, including as CFO at Seaborn Networks Holdings and Treasurer at Aspen Technology (AZPN). From February 2014 to July 2020, Kuebel served as CFO of Seaborn Networks Holdings, a developer and operator of a subsea fiber optic telecommunications network. He previously was Treasurer at Aspen Technology, a publicly traded supplier of process optimization software to the petro-chemical industry. Before joining Aspen Technology, Kuebel served as Treasurer of Global Crossing, a publicly traded telecommunications company, Assistant Treasurer and then Treasurer for Genuity, an Internet infrastructure services company, several positions increasing responsibility within the Treasury function at GTE Corporation, an international telecommunications company
KVH Industries reports Q4 non-GAAP EPS 7c, consensus 2c » 06:0603/0203/02/21
Reports Q4 revenue…
Reports Q4 revenue $44.1M, consensus $46.58M. Commenting on the quarter, Martin Kits van Heyningen, KVH's CEO, said "Like many businesses around the world, we continued to face challenges from the pandemic, but ended our year positively, reporting overall revenue growth and an increase in adjusted EBITDA for the fourth quarter. I am proud of our team's ability to continue to deliver value for our customers. Our revenues grew 4%, despite the headwinds related to the pandemic, particularly in our Media group as a result of the ongoing shutdown of cruise ship operations, and our adjusted EBITDA increased to $3.5M. Our continued focus on cost containment, combined with healthy TACNAV revenues and temporary savings from pandemic-related restrictions, allowed us to report one of the strongest fourth quarter results from continuing operations in the past five years. For the full year, although we reported an increase in GAAP net loss of $5.9M, which was largely attributable to the $10.5M non-cash impairment charge, we reported an increase in adjusted EBITDA of more than $7.0M compared to last year. Against the backdrop of global economic uncertainty, we are pleased with our overall financial results for the year and with the positive momentum we are carrying into the Q1 of FY21."
KVH Industries partners with GreenSteam for KVH Watch maritime IoT solution » 08:4801/1901/19/21
KVH Industries announced…
KVH Industries announced today that GreenSteam, developers of vessel performance optimization solutions for a sustainable shipping industry, has joined the KVH Watch Solution Partner program and will offer the KVH Watch service as part of its enhanced performance platform for improved data mobility. KVH Watch's dedicated connectivity will support GreenSteam's core services, facilitating the movement of data from vessels to shore-based analysts in real-time. With the maritime industry evolving beyond data collection, attention is turning to the management, storage, and transfer of the data generated. KVH Watch is an IoT Connectivity as a Service solution that provides Flow, 24/7/365 machine-to-cloud satellite connectivity for remote monitoring of onboard equipment plus the ability to perform on-demand Remote Expert Interventions using video, voice, or text via KVH's global HTS network.
|Over a quarter ago|
KVH Industries partners with ioCurrents for KVH Watch maritime IoT solution » 07:1812/1712/17/20
KVH Industries announced…
KVH Industries announced that ioCurrents has joined the KVH Watch Solution Partner program and will offer KVH Watch connectivity as part of its maritime services. The company is the creator of the MarineInsight platform, which uses machine-learning algorithms to support maritime maintenance and fuel optimization and has thus far relied on vessels' existing communications systems for data transfer. KVH Watch's dedicated connectivity will enable ioCurrents to use real-time data to provide customers with actionable insights and engage in real-time video troubleshooting sessions during the course of a sea voyage.
KVH Industries expands mini-VSAT Broadband HTS network coverage » 05:0512/1012/10/20
KVH Industries announced…
KVH Industries announced that it has expanded its mini-VSAT Broadband HTS network coverage throughout Hudson Bay and the North Atlantic, including northeastern Canada, the Labrador Sea, Iceland, and Greenland. The expansion represents an addition of nearly 4M square kilometers of Ku-band coverage to the 272M square kilometers of global coverage that KVH's HTS network provides. The company noted that the Hudson Bay coverage is particularly important to commercial fishing fleets who rely on satellite connectivity for operations and crew welfare.
KVH Industries reports Q3 adj. cont. ops. EPS 6c, consensus (17c) » 07:0610/2910/29/20
Reports Q3 revenue…
Reports Q3 revenue $41.1M, consensus $37.77M. Commenting on the quarter, Martin Kits van Heyningen, KVH's chief executive officer, said "We are very pleased with the progress we made this quarter on all fronts. Notwithstanding the on-going impact of COVID-19, our financial results reflect one of the strongest third quarter reporting periods we have seen in several years. Sales grew by 5%, as did our VSAT shipments, our gross margins expanded significantly, our operating expenses continue to be in check, and our EBITDA increased by $4.6 million. I feel confident in saying that the decisive actions we took at the beginning of the pandemic have helped us to withstand, so far, the uncertainty posed by this global economic situation. Of course, the pandemic is far from over and we continue to remain vigilant and prepared for a range of macroeconomic scenarios. In addition to our robust financial results, we also made solid progress in advancing our strategic initiatives. We are in the process of rolling the PIC technology across our entire line of FOG products. Our creative promotional activities for AgilePlans are driving higher year over year VSAT shipments. And, we continue to invest in and develop our KVH Watch product suite in response to the increasing demand for IoT solutions."
KVH Industries CFO Reilly to retire later this year » 16:3109/1709/17/20
KVH Industries announced…
KVH Industries announced that its CFO Don Reilly has indicated his intention to retire later this year. Reilly will transition his responsibilities as CFO to his interim successor and will stay on in a consulting or part-time capacity to facilitate a smooth transition to a permanent successor. The Board of Directors appointed Brent Bruun as Interim CFO in addition to his Chief Operating Officer responsibilities, effective November 2, 2020. The Board has initiated a process to identify a successor for Reilly.
KVH Industries files $100M mixed securities shelf 17:0808/0408/04/20
KVH Industries reports Q2 adj. cont. ops. EPS (9c), two est. (37c) » 07:2507/3107/31/20
Reports Q2 revenue…
Reports Q2 revenue $36.9M, two est. $32.05M. Commenting on the quarter, Martin Kits van Heyningen, KVH's CEO, said "We made very good progress on both our core business and strategic initiatives, despite the ongoing financial and other challenges presented by COVID-19. We recently introduced and began shipping the P-1775 inertial measurement unit, the first of our inertial systems featuring KVH's new photonic integrated chip technology. We also announced that we received a new international military order with a net value of more than $10 million for our TACNAV tactical navigation systems, with all hardware deliveries for the order scheduled to take place in 2020. Our mobile connectivity subscriber base and AgilePlans revenues continued to expand, and our airtime margins improved significantly. In addition, we launched the new Remote Expert Intervention service as part of KVH Watch target the growing demand for IoT solutions. As was the case for most companies, we entered the second quarter with significant uncertainty resulting from the unprecedented global pandemic. We are happy to say, however, that while we anticipated and prepared for a range of scenarios, both of our business segments held up well in the face of the global health and economic challenges. Our mini-VSAT Broadband shipments remained strong, our airtime revenue continued to grow, our FOG and TACNAV sales were healthy, our gross margins expanded, and our operating expenses decreased. As a result, we were able to improve our adjusted earnings before interest, taxes, depreciation and amortization. However, the impact of the pandemic on the global economy remains uncertain. Therefore, we continue to proceed very cautiously, monitor the overall health of our business closely, and maintain the cost discipline that we implemented at the end of the first quarter. At the same time, we continue to execute on the strategic initiatives that we expect will be the foundation for our revenue and earnings growth in 2021 and beyond."