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Technology Stocks : KVH Industries, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: awecr2 who wrote (6980)

5/4/2018 9:13:18 AM

From: WalterP

Respond to of 7249

KVH and VectorNav Collaborate to Offer Precision Inertial Navigation System

VectorNav’s Tactical Series line of inertial navigation systems now supports KVH’s high-performance fiber optic gyro-based 1750 IMU and 1775 IMU

MIDDLETOWN, R.I., May 01, 2018 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq:KVHI), and VectorNav Technologies, LLC, two leading U.S.-based companies in the field of inertial sensors and navigation, announced today that KVH’s fiber optic gyro (FOG)-based 1750 IMU and 1775 IMU will now be offered to enhance the operation of VectorNav’s VN-210 and VN-310 Tactical Series GNSS-aided inertial navigation systems. The products are on display in KVH’s (#2600) and VectorNav’s (#2214) booths at the AUVSI Xponential conference in Denver, Colorado, today through May 3.

The VectorNav Tactical Series products with KVH’s FOG-based inertial measurement units (IMUs) combine the precision and reliability of KVH’s FOG technology with the robust filters and high-performance navigation algorithms of VectorNav’s inertial navigation systems. The combined capabilities represent an affordable, effective alternative to larger, higher-cost inertial navigation systems and provide improved accuracy in challenging environments.

“We are pleased to feature KVH technology in our Tactical Series and give our customers the option of utilizing a FOG-based IMU for higher precision performance to support a wide range of demanding applications,” says Jakub Maslikowski, director of sales and marketing for VectorNav.

VectorNav’s Tactical Series includes an onboard microelectromechanical systems (MEMS)-based IMU, which provides some advantages for customers who have constraints in terms of size and weight in their navigation and stabilization applications. However, in terms of inertial accuracy, the most demanding applications require performance that can only be delivered by FOG-based IMUs, for which KVH is a leading provider.

The VectorNav Tactical Series products with KVH FOG-based IMUs are designed for such applications as: SATCOM-on-the-Move; gimbal and camera pointing and stabilization; weapons systems targeting and stabilization; autonomous vehicle navigation; LiDAR mapping; georeferencing; or any application where MEMS-based solutions are unable to deliver sufficient accuracy and precision.

“The combination of VectorNav’s Tactical Series products with our FOG-based IMUs provides a great solution for applications that require advanced inertial navigation capability and FOG-level IMU performance,” says Jay Napoli, vice president of FOG/OEM sales for KVH.

A single cable connects the two systems, running from KVH’s 1750 IMU or 1775 IMU directly to the auxiliary port on the VN-210 or VN-310. This pairing creates a fully integrated FOG-based inertial navigation system designed to provide a high-accuracy, continuous positioning, velocity, and attitude solution.

KVH is a leading innovator for assured navigation and autonomous accuracy using high-performance sensors and integrated inertial systems. KVH’s widely-fielded TACNAV® systems are currently in use by the U.S. Army and Marine Corps as well as many allied militaries around the world. KVH’s FOGs and FOG-based IMUs are in use today in a wide variety of applications ranging from optical, antenna, and sensor stabilization systems to mobile mapping solutions and autonomous platforms and cars.

Note to Editors: For more information about KVH’s inertial navigation solutions, please visit the KVH website, kvh.com/unmanned. For more information about VectorNav’s inertial navigation systems, please visit the VectorNav website, vectornav.com. High-resolution images of KVH products are available at the KVH Press Room Image Library, kvh.com/press-room/image-library.

About VectorNav Technologies
VectorNav Technologies is the leading innovator and manufacturer of embedded navigation solutions using the latest in MEMS inertial sensor and GPS/GNSS technology. Since its founding in 2008, VectorNav has provided systems integrators in the military, aerospace, marine, and robotics industries around the world with SWaP-C optimized, high-performance navigation systems. VectorNav has unique expertise in applying the digital filtering and sensor calibration techniques that have multiple decades of heritage in aerospace applications to the state-of-the-art in MEMS inertial and GPS/GNSS technology.

To: awecr2 who wrote (6980)	5/4/2018 9:18:22 AM
From: WalterP	Respond to of 7249

KVH Industries Reports First Quarter 2018 Results MIDDLETOWN, RI, May 4, 2018 — KVH Industries, Inc., (Nasdaq: KVHI) reported financial results for the quarter ended March 31, 2018 today. The company will hold a conference call to discuss these results at 10:30 a.m. ET today, which can be accessed at investors.kvh.com. Following the call, a replay of the webcast will be available through the company’s website. First Quarter 2018 Highlights • Record total unit shipments of VSAT products, increasing 62% compared to the first quarter of 2017 and 50% compared to the fourth quarter of 2017. • AgilePlans, our new Connectivity as a Service Program for the commercial maritime sector, increased to 67% of total commercial maritime VSAT shipments, and 51% of the total VSAT shipments for the quarter. • Our fiber optic gyro (FOG) product sales were 25% higher compared to the first quarter of 2017, the fifth consecutive quarter of double-digit growth across a range of applications. • Our mini-VSAT Broadband airtime revenue grew $0.6 million or 4%, compared to the first quarter of 2017, driven by a 6% increase in subscribers, partially as a result of the introduction of AgilePlans. • Total revenue declined slightly in the first quarter of 2018 to $40.1 million from $40.2 million in the first quarter of 2017, driven in part by the continuing shift in our business model from hardware sales to a recurring revenue model, as well as the new revenue recognition standard. The application of the new revenue recognition standard, Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, reduced our total revenue in the first quarter of 2018 by $0.4 million, or 1%, from the revenue we would have recognized under the prior standard. • Net loss in the first quarter of 2018 was $3.9 million, or $0.23 per share, compared to a net loss of $4.9 million, or $0.30 per share in the first quarter of 2017. • Non-GAAP net loss in the first quarter of 2018 was $1.0 million, or $0.06 per share, compared to $1.3 million, or $0.08 per share in the first quarter of 2017. • Non-GAAP adjusted EBITDA in the first quarter of 2018 was $0.9 million, compared to a loss of $0.7 million in the first quarter of 2017. Commenting on the quarter, Martin Kits van Heyningen, KVH’s chief executive officer, said “2017 was an investment year for KVH as we set in motion a number of strategic initiatives that we believed had the potential to increase our long-term growth across all of our markets. Our first quarter results illustrate that these investments are enabling us to make the transformation to growth in 2018. The AgilePlans Connectivity as a Service Program that we launched a year ago helped drive record quarterly mini-VSAT Broadband product shipments, and this positive momentum has carried into our second quarter. Our airtime revenue grew again in the first quarter as the AgilePlans program, together with our new global HTS network, helped to increase our subscriber base by more than 6%. In our inertial navigation segment, our FOG business continued to grow significantly, with a better than 25% year-over-year increase in the first quarter. At the same time, our development of a photonic chip-based FOG remains on track, and we expect to have a working prototype available for testing by key driverless vehicle developers by the end of this year.” The company operates in two segments, mobile connectivity and inertial navigation. Net sales for the mobile connectivity segment decreased $1.5 million, or 4%, as compared to the first quarter of 2017 due to lower mini-VSAT Broadband product sales as a result of the implementation of the new ASC 606 revenue recognition standard as well as the impact of the AgilePlans subscription service. Partially offsetting this decrease was an increase in our mini-VSAT Broadband airtime revenue. Net sales for our inertial navigation segment increased $1.4 million, or 24%, compared to the first quarter of 2017, due to an increase in FOG sales and contracted engineering services.

To: awecr2 who wrote (6980)	5/4/2018 1:42:05 PM
From: awecr2	Read Replies (3) \| Respond to of 7249

As expected, the turnaround is in full effect, even though it’s not yet in revenues. The 6% sub increase disclosure is an indication that we should begin to see the fruits. They would not have disclosed this if they were expecting a slowdown. We know approximately 8k units have been sold to date(referencing a January CC) but for various reasons, a portion of these sales were laid up. My low estimate would be that we started the year at 5k active units. My high would be 6.5k. This range is based on actual service revenue numbers at Q4. This range would imply 300 to 390 new vsat units in Q1. That is better than I was expecting in this first full quarter. Furthermore, they are saying they have a healthy backlog and are making efforts to increase supply capacity. A strong indication Q2 units will be even better. What this says to me is that we could see our first guidance increase on the next CC, by raising the low end of the range above $166m. I was interested in MKVH words around v11. His wording suggests to me they are going to abandon C-band as a backup. The reason is the implied strength in the dual channel ku approach and the fact that there is less need for that C-band backup. I could be reading this wrong but I have wondered why they are offering v11 when it’s likely no knew customer would choose it over V7HTS given the economic benefits and cost savings. I’m now thinking they are doing this because they will be offering a V-11HTS with the same ku based dual channel approach as the V7HTS, with higher speeds and the old being upgradeable. They would probably introduce this to the market when they are closer to the Pacific region beam coming on-line. It’s very encouraging to see FOG gain momentum. We should be expecting this and I have been wondering why the slow uptick when autonomous everything has been growing substantially for a year. KVH is finally apart of that wave. I’m wondering if that’s because potential partners are taking them serious that they can deliver a much cheaper product at higher volumes, going into next year. If you’ve been looking for the opportunity to get back in, do it before the next earnings release. Aw