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Technology Stocks : KVH Industries, Inc.

KVHI 5.350

-3.1%

Nov 10 3:59 PM EST

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To: awecr2 who wrote (6983)	6/11/2018 3:55:20 PM
From: WalterP	Read Replies (2) of 7249

I attended the annual meeting of shareholders last week and was able to ask all the questions I wanted after the meeting. The annual meeting only lasts a few minutes, and all that it actually involves is the reading and accepting the results of the four questions in the proxy statement. As mentioned in the 2018 first quarter report, shipments of VSAT products increased 62% compared to the first quarter of 2017 and 50% compared to the fourth quarter of 2017. I think the quarter before it was 16% year over year. The old range of 250-300 per quarter is now 300+ obviously, but they would not narrow it down at all. My guess is that the V3IP-HTS and V11IP-HTS are also probably going to happen too, but they would not disclose any non-public information. C-band is staying and not going away. Not a single system has been returned under the Agile plans. Payback on these systems is around 24 months for KVH. The $4.5M SKY Perfect JSAT Corp investment in 375,000 shares of KVHI stock was at a 10% premium. Half of the proceeds went to pay down debt as required by their bank agreement. SJC likes to take a small stake in companies with whom they partner; they are not working on any new technology together. Saudi Arabia is trying to build their own defense industry and will be their own systems integrator once they finally purchase the KVH TACNAV systems. This really has nothing to do with sequestration or sanctions. Just waiting on internal Saudi finalization. The photonic chip is proceeding well and they have gone through several iterations. Product will be sampling later this year and will go to autonomous vehicle manufacturers for evaluation. Looking to make them available for around $200. No one else has got anything like it. VectorNav is helping with systems for autonomous drones. The inertial navigation business is really doing well commercially. They shipped about 30 systems so far for AMPV (3000 vehicles will be built). They are designed in. On the other hand, probably 240,000 JLTV vehicles will be built but systems are only added as requirements or customers need or want them but are not required or designed into the contract. Overall everything sounded extremely positive.

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