KVH Receives $5.2 Million Order for Military Navigation Systems
15 May 2014 - 9:30PM
KVH Industries, Inc., (Nasdaq:KVHI) announced today that it has
received a new order for its TACNAV® tactical navigation systems
for use by an international military customer in an armored vehicle
application. This order is valued at more than $5.2 million.
Shipments for this order are expected to begin in the next six
weeks, with all services being completed by the end of September
2014. Program management, engineering services, and installation
support will be provided as part of this order.
"KVH's TACNAV navigation solution is an important tool for U.S.
and allied warfighters, providing precision navigation as well as
coordination of vehicles in critical situations," explains Dan
Conway, executive vice president of KVH's Guidance and
Stabilization group. "The system serves as a crucial resource for
navigation and battle management, and even as a backup in
GPS-denied environments, keeping soldiers safe and out of harm's
way wherever they travel. This new order reaffirms the value of
KVH's TACNAV products for international militaries, and adds to our
backlog for the year."
KVH's TACNAV military vehicle navigation systems provide
unjammable precision navigation, heading, and pointing data for
vehicle drivers, crews, and commanders. TACNAV can also serve as a
heading and position source for situational awareness. The TACNAV
systems ordered today are KVH's TACNAV Light and TACNAV TLS
systems, which feature compact design, continuous heading and
pointing data output, and flexible architecture, while also
providing extremely accurate dead reckoning navigation regardless
of GPS availability.
TACNAV systems are currently in use by the U.S. Army and Marine
Corps, as well as many allied customers including Canada, Sweden,
Great Britain, France, Germany, Spain, Egypt, Botswana, Australia,
New Zealand, Saudi Arabia, Taiwan, Romania, Poland, Turkey,
Malaysia, Switzerland, South Korea, Singapore, Brazil, and
Italy.
Note to Editors: For more information about KVH's TACNAV
tactical navigation systems, please visit the KVH website
(www.tacnav.com). High-resolution images of KVH's TACNAV products
are available at the KVH Press Room Image Library
(http://www.kvh.com/Press-Room/Image-Library.aspx) for download and
editorial use.
About KVH Industries, Inc.
KVH Industries is a premier manufacturer of high-performance
sensors and integrated inertial systems for defense and commercial
guidance and stabilization applications. KVH is based in
Middletown, RI, with research, development, and manufacturing
operations in Middletown, RI, and Tinley Park, IL. The company's
global presence includes subsidiaries in Belgium, Bermuda, Brazil,
Cyprus, Denmark, Illinois, Japan, the Netherlands, Norway,
Singapore, and the United Kingdom.
This release may contain certain forward-looking statements that
involve risks and uncertainties. Forward-looking statements
include, for example, KVH's financial goals for 2014; the
functionality, characteristics, quality and performance of KVH's
products and technology; and the potential value of military
contracts. The actual results could differ materially. Factors that
may cause such differences include, among others, lack of reliable
vendors, delays in customers' qualification processes for our
products or other delays in shipping, uneven military sales cycles,
changes in military fielding and equipment requirements, the
ability of the government and its contractors to cancel orders at
their convenience, and changes in international situations. These
and other risk factors are discussed in more detail 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.
CONTACT: Jill Connors
Media & Communications Manager
KVH Industries, Inc.
401-851-3824
jconnors@kvh.com
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