KVH Receives $3.5 Million Order for TACNAV Tactical Navigation Systems
05 April 2017 - 9:00PM
KVH Industries, Inc., (Nasdaq:KVHI), announced today that it has
received a $3.5 million order for its TACNAV® tactical navigation
systems for use by an international military customer. Revenue from
this order is expected to begin in the third quarter of 2017 and
conclude in 2018.
“KVH’s TACNAV tactical navigation solution provides
precision navigation as well as coordination of military vehicles
in critical situations,” says Dan Conway, executive vice president
of KVH’s inertial navigation group. “The system serves as a crucial
resource for navigation and battle management, and 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.”
KVH’s TACNAV military vehicle navigation systems
provide unjammable precision navigation, heading, and pointing data
for vehicle drivers, crews, and commanders. TACNAV also serves as a
heading and position source for situational awareness. The fiber
optic gyro-based TACNAV system ordered today is designed to improve
dead-reckoning and target-location accuracy.
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 products, please visit kvh.com/TACNAV. High-resolution
images of KVH products are available at the KVH Press Room Image
Library, www.kvh.com/press-room/image-library.
About KVH Industries, Inc.KVH
Industries, Inc. is a premier manufacturer of high-performance
sensors and integrated inertial systems for defense and commercial
guidance and stabilization applications, having sold more than
19,000 TACNAV systems and more than 100,000 fiber optic gyros. KVH
is also a leading provider of solutions that bring global
high-speed Internet, television, voice services, and content via
satellite to mobile users at sea, on land, and in the air. 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 offices in Belgium, Brazil,
Cyprus, Denmark, Hong Kong, India, Japan, the Netherlands, Norway,
the Philippines, Singapore, and the United Kingdom.
This press release contains forward-looking
statements that involve risks and uncertainties. For example,
forward-looking statements include statements regarding our
financial goals for future periods, our anticipated revenue and the
impact of our future initiatives on revenue, competitive
positioning, profitability, and product orders. Actual results
could differ materially from the forward-looking statements made in
this press release. Factors that might cause these differences
include, but are not limited to: delays in the receipt of
anticipated orders for our products and services, including
significant orders for TACNAV products, or the potential failure of
such orders to occur at all, continued substantial fluctuations in
military sales, including to foreign customers; the
unpredictability of defense budget priorities as well as the order
timing, purchasing schedules, and priorities for defense products,
including possible order cancellations; the uncertain impact of
potential budget cuts by government customers; export restrictions,
delays in procuring export licenses, and other international risks.
These and other factors are discussed in more detail in KVH’s most
recent Form 10-K filed with the SEC on March 9, 2017. Copies are
available through its Investor Relations department and website,
http://investors.kvh.com. KVH does not assume any obligation to
update its forward-looking statements to reflect new information
and developments.
KVH and TACNAV are registered trademarks of KVH
Industries, Inc.
For further information, please contact:
Jill Connors
Media Relations & Industry Analyst Manager
KVH Industries, Inc.
Tel: +1 401 851 3824
jconnors@kvh.com
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