KVH Ships its 100,000th Mobile Satellite Antenna, Setting Industry Milestone & Record Revenues
15 February 2006 - 11:50PM
Business Wire
KVH's Mobile Satellite & Internet Solutions Meeting Consumers'
Growing Demand for Live Media in Cars, Boats, and RVs Reaffirming
its position as the leading manufacturer of mobile satellite
antenna systems for boats, cars, and RVs, KVH Industries, Inc.,
(Nasdaq: KVHI) announced today that it recently shipped its
100,000th antenna, setting a new milestone in the mobile satellite
marketplace. At the same time, the company announced record annual
mobile satellite revenue of $49 million, which contributed to KVH's
record annual revenue of $71.3 million for fiscal year 2005. "We
are tremendously proud to have surpassed the 100,000 antenna
milestone," said Martin Kits van Heyningen, KVH's president and
chief executive officer. "In a culture that is placing a premium on
mobility and instant access to information, KVH has set the pace in
live mobile entertainment solutions for a decade, whether you are
on land or at sea. Consumers on the move increasingly expect a
widening array of entertainment and Internet options, especially as
the number of aftermarket and factory-installed video screens in
automobiles is exploding. KVH successfully meets these consumers'
needs using innovative technology, connecting to premier services,
collaborating with industry leaders like DIRECTV, Microsoft,
Cadillac, and Inmarsat, and offering the highest quality products
available." Since it entered the mobile satellite marketplace,
KVH's approach to offering mobile access to live media has always
drawn upon a wide range of technology and services ranging from
satellite TV and communications, Internet services, and broadband
cellular services. The company's commitment to innovation and
product excellence is reflected in a remarkable array of industry
recognition, including the prestigious General Motors Innovative
Design Award, CES Innovation Award, 21 National Marine Electronics
Association "Best Product" awards, finalist for the Automotive News
PACE Award, and multiple technology and design patents. "The demand
for mobile access to live media ranging from satellite TV to
broadband Internet has steadily grown now that cars, boats, and RVs
are increasingly seen as extensions of the home," continued Mr.
Kits van Heyningen. "KVH satellite TV and Internet products
leverage existing services and TV screens on boats and RVs as well
as the 20 million video screens expected to be in cars by 2011.
Worldwide, mariners trust KVH's award-winning family of
TracPhone(R) global satellite communication and Internet systems.
KVH, with a broad array of versatile, integrated hardware and
service solutions, provides an unmatched suite of products to keep
KVH customers connected wherever they go." The company's
award-winning TracVision(R) products employ sophisticated sensors,
integrated receivers, and high-efficiency parabolic antenna designs
to support satellite TV on boats, RVs, and trucks, while KVH's
proprietary hybrid-phased array antenna and 5" high design are
technological breakthroughs that made live satellite TV a reality
in automobiles in 2003. Each of these fully stabilized systems
identifies, locks onto, and tracks high-powered TV satellites
orbiting 22,500 miles above the equator, even as the boat pitches
in high seas and the car cruises down the highway. High-speed,
in-motion Internet access is the latest addition to KVH's suite of
live mobile media services as KVH and Microsoft's MSN(R) TV group
are working together to make MSN TV service and broadband Internet
available in cars, boats, trucks and RVs traveling in and around
the United States. The combination of the MSN TV service and KVH's
expertise offers the first affordable in-motion product to
consumers with easy-to-use, high-speed Internet access on the
screens already in most vehicles. KVH's Mobile Internet Receiver
with MSN TV service will also include Wi-Fi output to provide
Internet connectivity to a wide range of Wi-Fi-enabled products.
However, the popularity of KVH's technology comes not simply from
the technological leadership its products represent but from the
company's ability to simplify these sophisticated systems into
powerful, reliable, and affordable solutions ideal for consumers on
the move. "KVH remains the only company providing consumers with
the fully integrated hardware solutions, together with an
international network of dealers and distributors, needed to
support the demands for mobile services in the marine, RV, and
automotive markets," concluded Mr. Kits van Heyningen. "As we look
toward the next 100,000 antennas, we're more committed than ever to
finding innovative ways to connect people on the move to the live
mobile media they prefer." Complete details regarding KVH's mobile
satellite product lines are available at http://www.tracvision.com
and http://www.tracphone.com. Note to editors - High-resolution
images of KVH's mobile satellite products are available for
download and editorial use at http://press.kvh.com. This release
may contain certain forward-looking statements that involve risks
and uncertainties. Forward-looking statements include, for example,
the functionality, characteristics, quality and performance of
KVH's products and technology; anticipated innovation and product
development; and customer preferences, requirements and
expectations. The actual results could differ. Factors that may
cause such differences include, among others, our dependence on the
availability of third-party satellites, which face significant
operational risks and could fail earlier than their expected useful
lives, for our mobile satellite communication services, as well as
those discussed in KVH's most recent Form 10-Q filed with the SEC.
KVH assumes no obligation to update its forward-looking statements
to reflect new information or developments. KVH, TracVision, and
TracPhone are trademarks of KVH Industries, Inc. All other
trademarks are the property of their respective companies.
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