KVH Receives $2.3 Million Order for Fiber Optic Gyro-based TACNAV II Vehicle Navigation System
06 June 2007 - 9:30PM
Business Wire
KVH Industries, Inc., (Nasdaq: KVHI) announced today that it has
received a new contract from a southeast Asian customer for the
purchase of KVH�s TACNAV� II fiber optic gyro (FOG)-based vehicle
navigation systems and displays. The contract has a total value of
approximately $2.3 million with shipments starting in 2007 and
extending through 2010. Commenting on the new contract, Dan Conway,
KVH�s vice president of business development, said, �Thanks to its
integrated KVH fiber optic gyros, our TACNAV II system offers
vehicle crews and combat commanders a powerful tool for unjammable
navigation as well as full integration with the increasingly robust
digital battlefield. This new order and the more than $20 million
in additional military navigation orders that we have received
since the start of 2007 illustrate the continuing demand for our
military vehicle navigation systems in the international and
domestic markets. While most of these orders will have limited
financial impact in the immediate term due to their out-year
delivery schedules, they are helping us build a very strong,
multi-year foundation for our military navigation business.� KVH�s
TACNAV II is a FOG-based tactical navigation system for vehicles
that combines GPS position data with inputs from its fiber optic
gyro, optional digital compass, and the vehicle�s odometer to
provide unjammable, precision navigation, heading, and pointing
data for vehicle drivers, crews, and commanders. TACNAV II also
offers a link between each vehicle and the customer�s Battle
Management System (BMS), making each unit a node in a secure
military network that consolidates a wide range of tactical data to
provide detailed information to individual units and military
commanders. Due to contractual restrictions, additional details
regarding the customer and vehicle platform cannot be disclosed at
this time. TACNAV systems are currently in use on U.S. and allied
vehicles participating in ongoing operations in Iraq and elsewhere.
Military forces fielding TACNAV include the U.S. Army, Marine
Corps, and Navy as well as many allied customers, among them
Canada, France, Sweden, Great Britain, Germany, Spain, Australia,
New Zealand, Saudi Arabia, Taiwan, Malaysia, Switzerland, and
Italy. Visit http://www.tacnav.com for complete details regarding
KVH�s defense navigation and guidance products. Note to editors:
High-resolution images of KVH�s defense navigation products are
available at http://press.kvh.com for download and editorial use.
About KVH Industries, Inc. KVH Industries, Inc., is a premier
manufacturer of systems to provide access to live mobile media
ranging from satellite TV to telephone and high-speed Internet for
vehicles and vessels as well as a leading source of navigation,
pointing, and guidance solutions for maritime, defense, and
commercial applications. The company�s products are based on its
proprietary mobile satellite antenna and fiber optic technologies.
An ISO 9001-certified company, KVH is based in Middletown, Rhode
Island. 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; and customer
preferences, requirements and expectations. The actual results
could differ materially. Factors that may cause such differences
include, among others, uneven military sales cycles, changes in
military fielding and equipment requirements, and changes in
international situations, as well as those discussed in KVH�s most
recent Form 10-Q filed with the SEC. KVH does not assume any
obligation to update its forward-looking statements to reflect new
information or developments. KVH and TACNAV are registered
trademarks of KVH Industries, Inc. All other trademarks are the
property of their respective companies.
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