kvh industries inc (KVHI) Key Developments
KVH Industries, Inc. Enhances Mini-VSAT Broadband Satellite Network with Global MPLS
Jun 23 15
KVH Industries Inc. announced that it recently implemented a global private multiprotocol label switching (MPLS) network connecting all of the teleports and satellite beams in its mini-VSAT Broadbandsm network. The benefits of MPLS for the thousands of mini-VSAT Broadband users on commercial and recreational vessels worldwide include increased security, enhanced quality of service, and increased network reliability and uptime. The MPLS network is designed to aggregate all customer satellite traffic and provides Internet egress at KVH’s 'MegaPOPs' (point-of-presence access points) located in North America, Europe, and Asia. The MPLS network also enables the KVH mini-VSAT Broadband network to provide firewalls and redundant high-speed Internet connections at each MegaPOP to ensure security and reliability of all customer traffic. MPLS enables a level of security and quality above that of a virtual private network (VPN), a configuration that corporate customers have utilized for years to protect the security of their data. In addition, MPLS allows KVH to supply its mini-VSAT Broadband customers with a Global Static IP service, where customers can be assigned a unique public IP address for use globally. This option makes authorized communications to a vessel less complex and more secure.
Inmarsat and KVH Industries, Inc. Announce Reciprocal Distribution Agreement
Jun 15 15
Inmarsat and KVH Industries Inc. announced the signing of a reciprocal distribution agreement with immediate effect. Under the agreement, KVH becomes a non-exclusive, global distributor of Inmarsat’s Fleet One and FleetBroadband services, and Inmarsat becomes a non-exclusive distributor across all vessel types for KVH’s VideotelTM Basic Training Package, as well as for its NEWSlinkTM newspapers within the leisure and non-passenger merchant vessel segments, which will be offered as enhancements to Inmarsat’s Fleet Media service.
Polsteam Selects KVH Industries Inc.'s Mini-VSAT Broadband Service for Maritime Connectivity on 60-Vessel Fleet
Jun 3 15
Polsteam has selected the mini-VSAT Broadbandsm service from KVH Industries Inc. as its satellite communications solution. Polsteam, which is officially known as Polska Zegluga Morska, intends to install the TracPhone® V7-IP satellite communications systems on 60 vessels. Technical support and installation of the KVH maritime VSAT systems for Polsteam’s vessels will be executed by EPA Marine, which is based in Szczecin, Poland. EPA Marine’s team of highly qualified engineers specializes in installation and commissioning of maritime communications and navigational equipment.
James S. Dodez to Resign as Senior Vice President, Marketing and Strategic Planning of KVH Industries Inc
May 14 15
On May 11, 2015, James S. Dodez, KVH Industries Inc. Senior Vice President, Marketing and Strategic Planning, announced that he plans to resign from that position in the near future in order to pursue an early retirement. Mr. Dodez has indicated his willingness to remain an employee on a reduced schedule in order to facilitate a smooth transition of his responsibilities. It is expected that Mr. Dodez will also continue to serve as a strategy advisor to Chairman, President and Chief Executive Officer until at least mid-2016.
KVH Industries Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015
May 7 15
KVH Industries Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. Revenue was $41.3 million for the first quarter, an increase of 12% compared to the first quarter of 2014. For the first quarter, net loss on a GAAP basis was $1.4 million, or $0.09 per share, while non-GAAP net income was $0.9 million or $0.06 per diluted share. During the same period last year, the company reported a GAAP net loss of $1.1 million, or $0.07 per share, and a non-GAAP net loss of $0.0 million, or $0.00 per diluted share. Non-GAAP adjusted EBITDA was $2.8 million for the first quarter of 2015 compared to $1.1 million in the prior year quarter. Loss from operations was $1.908 million against $1.694 million a year ago. Loss before income tax was $1.715 million against $1.568 million a year ago. Non-GAAP EBITDA was $1.634 million against $0.106 million a year ago. Capital expenditures during the first quarter were $1.1 million.
For the second quarter of 2015, the company expects revenue for the second quarter is projected to be in the range of $41 million to $45 million. For the second quarter, net loss is projected to be in the range of $1.2 million to $0.5 million with GAAP net loss per share to be in the range of $0.08 to $0.03. Non-GAAP adjusted EBITDA is projected to be $3.0 million to $3.7 million with non-GAAP diluted EPS for the second quarter projected to be in the range of $0.05 to $0.10.
For the full year, the company is reaffirming previous guidance. Revenue for the full year is projected to be $190 million to $210 million. For the full year, net income is projected to be in the range of $4.6 million to $6.2 million with GAAP EPS projected to be in the range of $0.30-$0.40. Non-GAAP adjusted EBITDA is projected to be $25.0 million to $27.5 million with non-GAAP diluted EPS for the full year projected to be in the range of $0.81 to $0.91. Overall the company expects continued growth and improving profitability as the company progress throughout the year.