KVH Industries (NASDAQ:KVHI)
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KVH Industries, Inc., (Nasdaq: KVHI) announced today
that it has received three new orders for its TACNAV(R) vehicle
navigation systems and T-FOG(TM) fiber optic gyro (FOG) upgrade.
Together, the orders are valued at more than $2.4 million. The orders
were placed by U.S. defense prime contractors and a foreign military,
all of which are current KVH customers. KVH expects to recognize the
majority of the contract revenue during the second half of 2005.
"These new orders illustrate the steady demand among our customers
for new and replacement systems, including the powerful enhancements
offered by our fiber optic gyro systems," commented Dan Conway, KVH's
vice president for business development. "KVH's TACNAV systems
continue to prove themselves in navigation, pointing, and battle
management applications within a number of operational theatres
ranging from Iraq to Afghanistan."
Due to contractual restrictions, additional details regarding the
customers cannot be disclosed at this time.
KVH's TACNAV military vehicle navigation systems employ KVH's
digital compass and FOG technology as well as proprietary software
algorithms to provide uninterrupted navigation, heading, and pointing
data for vehicle drivers, commanders, and crews. While TACNAV
complements the Global Positioning System (GPS), its self-contained
sensors operate independently of GPS. As a result, TACNAV continues to
provide mission-critical data for troops in the vehicle as well as to
the digital battlefield system, even if GPS is blocked, jammed, or is
otherwise unavailable. TACNAV can also serve as a link between each
vehicle and the overall digital battlefield, making each unit a node
in a secure military network that consolidates a wide range of
tactical data to provide detailed information to individual units and
military commanders.
KVH TACNAV navigation systems are currently in use on U.S. and
allied vehicles participating in ongoing operations in Iraq,
Afghanistan, and elsewhere. TACNAV systems have been sold for use
aboard U.S. Army, Marine Corps, and Navy vehicles as well as to many
allied customers, including Canada, Sweden, Great Britain, Germany,
Spain, Australia, New Zealand, Saudi Arabia, Taiwan, Malaysia,
Switzerland, and Italy.
Complete details regarding KVH's defense navigation and guidance
products are available at http://www.tacnav.com.
Note to editors: High-resolution images of the KVH TACNAV products
and their applications in the field are available for download and
editorial use on KVH's award-winning web site. The direct link is
http://www.kvh.com/mediasupport.
KVH Industries, Inc., designs and manufactures products that
enable mobile communication, navigation, and precision pointing
through the use of its proprietary mobile satellite antenna and fiber
optic technologies. The company is developing next-generation systems
with greater precision, durability, and versatility for
communications, navigation, and industrial applications. An ISO
9001-certified company, KVH has headquarters in Middletown, Rhode
Island, with a fiber optic and military navigation product
manufacturing facility in Tinley Park, Illinois, and a European sales,
marketing, and support office in Kokkedal, Denmark.
This press release may contain certain forward-looking statements
that involve risks and uncertainties. For example, the statements
regarding the company's financial goals for 2005 are forward-looking
statements. The actual results realized by the company could differ
materially from the statements made herein. Factors that might cause
such differences include, but are not limited to: uneven military
sales cycles and changes in procurement priorities; the ability of the
government and its contractors to cancel orders at their convenience;
and unforeseen changes in competing technologies and products.
Additional factors are discussed in the company's most recent Form
10-Q filed with the SEC. Copies are available through the company's
Investor Relations department and web site, www.kvh.com. KVH assumes
no obligation to update its forward-looking statements to reflect new
information and developments.