KVH Receives Orders Totaling $6.7 Million for TACNAV Tactical Navigation Systems
25 September 2019 - 9:00PM
KVH Industries, Inc., (Nasdaq: KVHI), announced today that it has
received two orders totaling $6.7 million for its fiber optic gyro
(FOG)-based TACNAV® tactical navigation systems for use by military
customers. Revenue from one of these orders will be completed in
2019; revenue from the other order is expected to begin in the
fourth quarter of 2019 and continue through 2021.
“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 an alternative source
of heading, position, and navigation in GPS-denied environments,
helping keep soldiers safe and out of harm’s way wherever they
travel. These new orders reaffirm the value of KVH’s TACNAV
products and add to our backlog.”
KVH’s FOG-based 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. KVH’s
widely-fielded 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, UAE, and Italy.
Note to Editors: For more information about KVH’s FOG-based
TACNAV systems, please visit the KVH website,
kvh.com/tacnav. High-resolution images of KVH products are
available at the KVH Press Room Image Library,
kvh.com/Press-Room/Image-Library.
About KVH Industries, Inc.KVH Industries, Inc.,
is a global leader in mobile connectivity and inertial navigation
systems, innovating to enable a mobile world. A market leader in
maritime VSAT, KVH designs, manufactures, and provides connectivity
and content services globally. KVH is also a premier manufacturer
of high-performance sensors and integrated inertial systems for
defense and commercial applications. Founded in 1982, the company
is based in Middletown, RI, with research, development, and
manufacturing operations in Middletown, RI, and Tinley Park, IL,
and more than a dozen offices around the globe.
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-Q filed with the SEC on August 2, 2019. 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 Industries, Inc. has used, registered, or
applied to register its trademarks in the U.S.A. and other
countries around the world, including but not limited to the
following marks: KVH and TACNAV. All other trademarks are the
property of their respective companies.
For further information, please contact:Jill
ConnorsMedia Relations & Industry Analyst ManagerKVH
Industries, Inc.Tel: +1 401 851 3824jconnors@kvh.com
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