KVH Industries (NASDAQ:KVHI)
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From Jul 2019 to Jul 2024
Small, Simple, Powerful 14.5-inch System Ideal for Use on Boats
25-40 Feet, a Market Segment with more than 200,000 Registered Vessels
in the U.S.
First to the mark again, KVH Industries, Inc. (Nasdaq: KVHI),
brings mobile satellite TV to the largest segment of the U.S.
production powerboat market - those vessels 25'-40' in length - thanks
to its new TracVision(R) M3, the world's smallest stabilized marine
satellite TV system. Until the introduction of the 14.5" diameter
TracVision M3, marine satellite TV antennas had either been too large
to look good on smaller vessels or made significant compromises in
performance in an effort to reduce antenna size, a tradeoff that
limited these systems to at-anchor or coastal use. With reception
comparable to larger, 18" diameter satellite TV antennas, the
TracVision M3, however, makes no compromises and is ideal for vessels
25'-40' in length, a significant new market opportunity.
According to the National Marine Manufacturers Association and
Power & Motoryacht Magazine, the number of U.S. registered vessels
between 25'-40' exceeds 200,000 compared to a population of less than
45,000 registered powerboats and yachts longer than 40'. And among
those vessels in the 25'-40' range, more than 60% are equipped with
color TVs but only 2% have satellite TV. Now shipping, the TracVision
M3 is already beginning to seize this market.
"We've installed several of the TracVision M3s, and with nearly
40% of my business with boats less than 40', it's created a terrific
opportunity," cheered Kevin Savord, owner of Long Beach Marine
Electronics, in Long Beach, CA. "Installers like the single cable
connecting the dome to the system below, and the customers keep
commenting on the RF remote - how it controls the receiver from
anywhere on the boat."
The TracVision M3 offers everything a small boat owner needs to
enjoy more than 300 channels of DIRECTV(R) programming, including 50+
channels of XM Satellite Radio music, when cruising along the coast
and as far as 200 miles offshore. The system's high-efficiency 14.5"
antenna is contained within an impact-resistant dome 40% smaller than
competing 18" antennas while offering comparable coverage, and
requires only a single cable for easy installation.
"Of all the boats we outfit, boats in the 25'-40' range make up
almost 60%," said Mike Yarbro, the president of Seawide Marine in
Temecula, CA. "Before the TracVision M3, we sold plenty of (18"
diameter) TracVision G4s; in fact we've gone to selling KVH
exclusively. That worked great for larger boats. Now, look out...the
smaller boat market is hot. I mean, we sold four TracVision M3s just
yesterday! It's easily the most important thing on the boat. You know
if a guy's radar goes out, he's not that upset, but if his TV goes
out, he's screaming and yelling."
The TracVision M3 also offers additional innovations ideally
suited to smaller vessels. Its powerful motors are extremely quiet, a
critical factor on smaller boats where the antenna is closer to the
passengers, yet are responsive enough to keep the TracVision M3's
antenna locked onto the DIRECTV satellite even aboard small vessels in
rough seas. Also included in the TracVision M3 package is KVH's
exclusive 12-volt satellite TV receiver for DIRECTV service, and an RF
remote control that allows users to change channels even if the
receiver is safely and stylishly tucked away in a cabinet or stateroom
closet.
Commenting on KVH's overall strategy, Ian Palmer, KVH's executive
vice president of satellite sales, remarked, "The TracVision M3 is an
ideal example of KVH's successful efforts to develop smaller, simpler
technology that expands our sales opportunities into broader, untapped
markets. Our innovative, high-efficiency design offers customers and
dealers a wide array of benefits while positioning KVH as the only
marine satellite TV system manufacturer capable of supporting the
tremendous untapped market opportunity represented by smaller vessels.
An all-in-one-box solution that is a snap to install and does not make
any compromises in performance, quality, or reliability, the
TracVision M3 is the small, simple, and powerful solution designed
specifically for the small boat owner's needs."
Complete details regarding the TracVision M3 and the rest of KVH's
award-winning TracVision product line are available at
http://www.tracvision.com.
NOTE TO EDITORS: High-resolution, press-ready images of the
TracVision M3 are available for download and editorial use at
http://press.kvh.com.
About KVH Industries, Inc.
Middletown, RI-based KVH Industries, Inc., is a leading provider
of in-motion satellite TV and communication systems, having designed,
manufactured, and sold more than 100,000 mobile satellite antennas for
applications on boats, RVs, trucks, buses, and automobiles. Winner of
the prestigious General Motors Innovative Design Award, CES Innovation
Award, 21 National Marine Electronics Association "Best Product"
awards, and a finalist for the Automotive News PACE Award, KVH's
mission is to connect mobile customers with the same digital
television entertainment, communications, and Internet services that
they enjoy in their home and offices.
This release may contain certain forward-looking statements that
involve risks and uncertainties. Forward-looking statements include,
for example, the functionality, characteristics, quality and
performance of KVH's products and technology; anticipated innovation
and product development; and customer preferences, requirements and
expectations. The actual results could differ. Factors that may cause
such differences include, among others, our dependence on the
availability of third-party satellites, which face significant
operational risks and could fail earlier than their expected useful
lives, for our mobile satellite communication services, as well as
those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH
assumes no obligation to update its forward-looking statements to
reflect new information or developments.
KVH(R) and TracVision(R) are registered trademarks of KVH
Industries, Inc. All other trademarks are the property of their
respective companies.