![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
KVH Industries Inc | NASDAQ:KVHI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.07 | -1.54% | 4.47 | 4.47 | 4.50 | 4.66 | 4.42 | 4.58 | 12,185 | 18:17:46 |
|
|
ý
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
Delaware
|
05-0420589
|
(State or Other Jurisdiction of
Incorporation or Organization)
|
(I.R.S. Employer
Identification Number)
|
50 Enterprise Center, Middletown, RI 02842
(Address of Principal Executive Offices) (Zip Code) |
|
(401) 847-3327
(Registrant’s Telephone Number, Including Area Code)
|
|
Large accelerated filer
|
o
|
Accelerated filer
|
ý
|
Non-accelerated filer
|
o
(Do not check if a smaller reporting company)
|
Smaller reporting company
|
o
|
Date
|
Class
|
Outstanding shares
|
May 5, 2014
|
Common Stock, par value $0.01 per share
|
15,859,352
|
|
|
Page No.
|
|
||
ITEM 1.
|
|
|
|
Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013 (unaudited)
|
|
|
Consolidated Statements of Operations for the three months ended March 31, 2014 and 2013 (unaudited)
|
|
|
Consolidated Statements of Comprehensive (Loss) Income for the three months ended March 31, 2014 and 2013 (unaudited)
|
|
|
Consolidated Statements of Cash Flows for the three months ended March 31, 2014 and 2013 (unaudited)
|
|
|
||
ITEM 2.
|
||
ITEM 3.
|
||
ITEM 4.
|
||
|
||
ITEM 1.
|
||
ITEM 2.
|
||
ITEM 6.
|
||
|
March 31,
2014 |
|
December 31,
2013 |
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
12,283
|
|
|
$
|
9,358
|
|
Marketable securities
|
41,425
|
|
|
46,386
|
|
||
Accounts receivable, net of allowance for doubtful accounts of approximately $1,427 as of March 31, 2014 and $1,705 as of December 31, 2013
|
28,173
|
|
|
27,549
|
|
||
Inventories
|
18,704
|
|
|
18,255
|
|
||
Prepaid expenses and other assets
|
4,726
|
|
|
3,784
|
|
||
Deferred income taxes
|
3,128
|
|
|
3,060
|
|
||
Total current assets
|
108,439
|
|
|
108,392
|
|
||
Property and equipment, less accumulated depreciation of $37,689 as of March 31, 2014 and $36,456 as of December 31, 2013
|
36,682
|
|
|
37,142
|
|
||
Intangible assets, less accumulated amortization of $2,465 as of March 31, 2014 and $2,005 as of December 31, 2013
|
14,654
|
|
|
14,987
|
|
||
Goodwill
|
18,407
|
|
|
18,281
|
|
||
Other non-current assets
|
4,801
|
|
|
5,047
|
|
||
Total assets
|
$
|
182,983
|
|
|
$
|
183,849
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
8,445
|
|
|
$
|
8,876
|
|
Accrued compensation and employee-related expenses
|
4,387
|
|
|
5,859
|
|
||
Accrued other
|
8,183
|
|
|
7,325
|
|
||
Accrued product warranty costs
|
1,367
|
|
|
1,269
|
|
||
Deferred revenue
|
5,735
|
|
|
4,858
|
|
||
Current portion of long-term debt
|
1,282
|
|
|
1,272
|
|
||
Total current liabilities
|
29,399
|
|
|
29,459
|
|
||
Deferred income taxes
|
375
|
|
|
625
|
|
||
Other long-term liabilities
|
194
|
|
|
204
|
|
||
Line of credit
|
30,000
|
|
|
30,000
|
|
||
Long-term debt, excluding current portion
|
6,770
|
|
|
7,094
|
|
||
Total liabilities
|
66,738
|
|
|
67,382
|
|
||
Commitments and contingencies (notes 3 and 9)
|
|
|
|
||||
Stockholders’ equity:
|
|
|
|
||||
Preferred stock, $0.01 par value. Authorized 1,000,000 shares; none issued
|
—
|
|
|
—
|
|
||
Common stock, $0.01 par value. Authorized 30,000,000 shares; 17,062,241 and 16,936,128 shares issued at March 31, 2014 and December 31, 2013; and 15,403,250 and 15,277,137 shares outstanding at March 31, 2014 and December 31, 2013, respectively
|
171
|
|
|
169
|
|
||
Additional paid-in capital
|
117,781
|
|
|
117,147
|
|
||
Retained earnings
|
10,717
|
|
|
11,840
|
|
||
Accumulated other comprehensive income
|
726
|
|
|
461
|
|
||
Less: treasury stock at cost, common stock, 1,658,991 shares as of March 31, 2014 and December 31, 2013
|
(13,150
|
)
|
|
(13,150
|
)
|
||
Total stockholders’ equity
|
116,245
|
|
|
116,467
|
|
||
Total liabilities and stockholders’ equity
|
$
|
182,983
|
|
|
$
|
183,849
|
|
|
Three Months Ended
|
||||||
|
March 31,
|
||||||
|
2014
|
|
2013
|
||||
Sales:
|
|
|
|
||||
Product
|
$
|
18,007
|
|
|
$
|
25,216
|
|
Service
|
18,978
|
|
|
14,711
|
|
||
Net sales
|
36,985
|
|
|
39,927
|
|
||
Costs and expenses:
|
|
|
|
||||
Costs of product sales
|
11,332
|
|
|
13,909
|
|
||
Costs of service sales
|
11,060
|
|
|
10,249
|
|
||
Research and development
|
3,667
|
|
|
2,950
|
|
||
Sales, marketing and support
|
7,470
|
|
|
6,943
|
|
||
General and administrative
|
5,150
|
|
|
3,374
|
|
||
Total costs and expenses
|
38,679
|
|
|
37,425
|
|
||
(Loss) income from operations
|
(1,694
|
)
|
|
2,502
|
|
||
Interest income
|
210
|
|
|
168
|
|
||
Interest expense
|
191
|
|
|
76
|
|
||
Other income, net
|
107
|
|
|
24
|
|
||
(Loss) income before income tax (benefit) expense
|
(1,568
|
)
|
|
2,618
|
|
||
Income tax (benefit) expense
|
(445
|
)
|
|
655
|
|
||
Net (loss) income
|
$
|
(1,123
|
)
|
|
$
|
1,963
|
|
|
|
|
|
||||
Net (loss) income per common share
|
|
|
|
||||
Basic
|
$
|
(0.07
|
)
|
|
$
|
0.13
|
|
Diluted
|
$
|
(0.07
|
)
|
|
$
|
0.13
|
|
Weighted average number of common shares outstanding:
|
|
|
|
||||
Basic
|
15,313
|
|
|
14,989
|
|
||
Diluted
|
15,313
|
|
|
15,219
|
|
|
Three Months Ended
|
||||||
|
March 31,
|
||||||
|
2014
|
|
2013
|
||||
Net (loss) income
|
$
|
(1,123
|
)
|
|
$
|
1,963
|
|
Other comprehensive income (loss), net of tax:
|
|
|
|
||||
Unrealized gain (loss) on available-for-sale securities
|
8
|
|
|
(5
|
)
|
||
Foreign currency translation adjustment
|
248
|
|
|
(391
|
)
|
||
Unrealized gain on derivative instruments
|
9
|
|
|
42
|
|
||
Other comprehensive income (loss), net of tax
|
265
|
|
|
(354
|
)
|
||
Total comprehensive (loss) income
|
$
|
(858
|
)
|
|
$
|
1,609
|
|
|
Three Months Ended
|
||||||
|
March 31,
|
||||||
|
2014
|
|
2013
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net (loss) income
|
$
|
(1,123
|
)
|
|
$
|
1,963
|
|
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
|
|
|
|
||||
Provision for doubtful accounts
|
47
|
|
|
72
|
|
||
Depreciation and amortization
|
1,693
|
|
|
1,224
|
|
||
Deferred income taxes
|
(289
|
)
|
|
683
|
|
||
Loss on derivative instruments
|
21
|
|
|
31
|
|
||
Compensation expense related to stock-based awards and employee stock purchase plan
|
1,003
|
|
|
1,082
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(698
|
)
|
|
(1,825
|
)
|
||
Inventories
|
(459
|
)
|
|
(721
|
)
|
||
Prepaid expenses and other assets
|
(984
|
)
|
|
(813
|
)
|
||
Other non-current assets
|
245
|
|
|
227
|
|
||
Accounts payable
|
(421
|
)
|
|
(332
|
)
|
||
Deferred revenue
|
907
|
|
|
182
|
|
||
Accrued expenses
|
(503
|
)
|
|
(565
|
)
|
||
Other long-term liabilities
|
(10
|
)
|
|
1,170
|
|
||
Net cash (used in) provided by operating activities
|
(571
|
)
|
|
2,378
|
|
||
Cash flows from investing activities:
|
|
|
|
||||
Capital expenditures
|
(771
|
)
|
|
(790
|
)
|
||
Purchases of marketable securities
|
(9,287
|
)
|
|
(12,705
|
)
|
||
Maturities and sales of marketable securities
|
14,256
|
|
|
3,701
|
|
||
Net cash provided by (used in) investing activities
|
4,198
|
|
|
(9,794
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Repayments of long-term debt
|
(314
|
)
|
|
(116
|
)
|
||
Borrowings from long-term debt
|
—
|
|
|
4,671
|
|
||
Proceeds from stock options exercised and employee stock purchase plan
|
129
|
|
|
1,199
|
|
||
Payment of employee restricted stock withholdings
|
(481
|
)
|
|
(828
|
)
|
||
Net cash (used in) provided by financing activities
|
(666
|
)
|
|
4,926
|
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(36
|
)
|
|
41
|
|
||
Net increase (decrease) in cash and cash equivalents
|
2,925
|
|
|
(2,449
|
)
|
||
Cash and cash equivalents at beginning of period
|
9,358
|
|
|
8,978
|
|
||
Cash and cash equivalents at end of period
|
$
|
12,283
|
|
|
$
|
6,529
|
|
|
|
|
|
|
Three Months Ended
|
||||
|
March 31,
|
||||
|
2014
|
|
2013
|
||
Weighted average common shares outstanding—basic
|
15,313
|
|
|
14,989
|
|
Dilutive common shares issuable in connection with stock plans
|
—
|
|
|
230
|
|
Weighted average common shares outstanding—diluted
|
15,313
|
|
|
15,219
|
|
|
March 31,
2014 |
|
December 31,
2013 |
||||
Raw materials
|
$
|
10,158
|
|
|
$
|
9,783
|
|
Work in process
|
3,347
|
|
|
3,087
|
|
||
Finished goods
|
5,199
|
|
|
5,385
|
|
||
|
$
|
18,704
|
|
|
$
|
18,255
|
|
|
|
|
|
|
|
|
|
Sales Originating From
|
||||||||||
Three months ended March 31, 2014
|
|
Americas
|
|
Europe and
Asia
|
|
Total
|
||||||
Mobile communication sales to the United States
|
|
$
|
20,677
|
|
|
$
|
320
|
|
|
$
|
20,997
|
|
Mobile communication sales to Canada
|
|
170
|
|
|
15
|
|
|
185
|
|
|||
Mobile communication sales to Europe
|
|
27
|
|
|
5,821
|
|
|
5,848
|
|
|||
Mobile communication sales to other geographic areas
|
|
864
|
|
|
1,081
|
|
|
1,945
|
|
|||
Guidance and stabilization sales to the United States
|
|
1,973
|
|
|
—
|
|
|
1,973
|
|
|||
Guidance and stabilization sales to Canada
|
|
3,182
|
|
|
—
|
|
|
3,182
|
|
|||
Guidance and stabilization sales to Europe
|
|
1,101
|
|
|
—
|
|
|
1,101
|
|
|||
Guidance and stabilization sales to other geographic areas
|
|
1,754
|
|
|
—
|
|
|
1,754
|
|
|||
Intercompany sales
|
|
1,576
|
|
|
876
|
|
|
2,452
|
|
|||
Subtotal
|
|
31,324
|
|
|
8,113
|
|
|
39,437
|
|
|||
Eliminations
|
|
(1,576
|
)
|
|
(876
|
)
|
|
(2,452
|
)
|
|||
Net sales
|
|
$
|
29,748
|
|
|
$
|
7,237
|
|
|
$
|
36,985
|
|
Segment net (loss) income
|
|
$
|
(1,196
|
)
|
|
$
|
73
|
|
|
$
|
(1,123
|
)
|
Depreciation and amortization
|
|
$
|
1,131
|
|
|
$
|
562
|
|
|
$
|
1,693
|
|
Total assets
|
|
$
|
165,229
|
|
|
$
|
17,754
|
|
|
$
|
182,983
|
|
|
|
Sales Originating From
|
||||||||||
Three months ended March 31, 2013
|
|
Americas
|
|
Europe and
Asia
|
|
Total
|
||||||
Mobile communication sales to the United States
|
|
$
|
17,482
|
|
|
$
|
—
|
|
|
$
|
17,482
|
|
Mobile communication sales to Canada
|
|
162
|
|
|
—
|
|
|
162
|
|
|||
Mobile communication sales to Europe
|
|
118
|
|
|
3,484
|
|
|
3,602
|
|
|||
Mobile communication sales to other geographic areas
|
|
910
|
|
|
751
|
|
|
1,661
|
|
|||
Guidance and stabilization sales to the United States
|
|
1,443
|
|
|
—
|
|
|
1,443
|
|
|||
Guidance and stabilization sales to Canada
|
|
2,954
|
|
|
—
|
|
|
2,954
|
|
|||
Guidance and stabilization sales to Europe
|
|
2,710
|
|
|
—
|
|
|
2,710
|
|
|||
Guidance and stabilization sales to other geographic areas
|
|
9,913
|
|
|
—
|
|
|
9,913
|
|
|||
Intercompany sales
|
|
605
|
|
|
377
|
|
|
982
|
|
|||
Subtotal
|
|
36,297
|
|
|
4,612
|
|
|
40,909
|
|
|||
Eliminations
|
|
(605
|
)
|
|
(377
|
)
|
|
(982
|
)
|
|||
Net sales
|
|
$
|
35,692
|
|
|
$
|
4,235
|
|
|
$
|
39,927
|
|
Segment net income
|
|
$
|
1,200
|
|
|
$
|
763
|
|
|
$
|
1,963
|
|
Depreciation and amortization
|
|
$
|
1,150
|
|
|
$
|
74
|
|
|
$
|
1,224
|
|
Total assets
|
|
$
|
125,565
|
|
|
$
|
19,738
|
|
|
$
|
145,303
|
|
Level 1:
|
Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. The Company’s Level 1 assets are investments in money market mutual funds, government agency bonds, United States treasuries, municipal bonds, corporate notes, and certificates of deposit.
|
Level 2:
|
Quoted prices for similar assets or liabilities in active markets; or observable prices that are based on observable market data, based on directly or indirectly market-corroborated inputs. The Company’s Level 2 assets and liabilities are interest rate swaps and foreign currency forward contracts.
|
Level 3:
|
Unobservable inputs that are supported by little or no market activity, and are developed based on the best information available given the circumstances. The Company has no Level 3 assets.
|
(a)
|
Market approach—prices and other relevant information generated by market transactions involving identical or comparable assets.
|
(b)
|
The valuations of the interest rate swaps intended to mitigate the Company’s interest rate risk are determined with the assistance of a third-party financial institution using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each instrument. This analysis utilizes observable market-based inputs, including interest rate curves and interest rate volatility, and reflects the contractual terms of these instruments, including the period to maturity.
|
(c)
|
The valuations of foreign currency forward contracts are determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each instrument. This analysis utilizes observable market-based inputs, including commodity forward curves, and reflects the contractual terms of these instruments, including the period to maturity.
|
March 31, 2014
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Valuation
Technique
|
||||||||
Assets
|
|
|
|
|
|
|
|
|
|
||||||||
Money market mutual funds
|
$
|
16,821
|
|
|
$
|
16,821
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
(a)
|
Government agency bonds
|
7,501
|
|
|
7,501
|
|
|
—
|
|
|
—
|
|
|
(a)
|
||||
United States treasuries
|
4,008
|
|
|
4,008
|
|
|
—
|
|
|
—
|
|
|
(a)
|
||||
Municipal bonds
|
4,186
|
|
|
4,186
|
|
|
—
|
|
|
—
|
|
|
(a)
|
||||
Corporate notes
|
6,386
|
|
|
6,386
|
|
|
—
|
|
|
—
|
|
|
(a)
|
||||
Certificates of deposit
|
2,523
|
|
|
2,523
|
|
|
—
|
|
|
—
|
|
|
(a)
|
||||
Foreign currency forward contracts
|
94
|
|
|
—
|
|
|
94
|
|
|
—
|
|
|
(c)
|
||||
Liabilities
|
|
|
|
|
|
|
|
|
|
||||||||
Interest rate swaps
|
$
|
322
|
|
|
$
|
—
|
|
|
$
|
322
|
|
|
$
|
—
|
|
|
(b)
|
December 31, 2013
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Valuation
Technique
|
|||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|||||||||
Money market mutual funds
|
$
|
19,957
|
|
|
$
|
19,957
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
(a)
|
|
Government agency bonds
|
7,509
|
|
|
7,509
|
|
|
—
|
|
|
—
|
|
|
(a)
|
|
||||
United States treasuries
|
8,041
|
|
|
8,041
|
|
|
—
|
|
|
—
|
|
|
(a)
|
|
||||
Corporate notes
|
8,453
|
|
|
8,453
|
|
|
—
|
|
|
—
|
|
|
(a)
|
|
||||
Certificates of deposit
|
2,426
|
|
|
2,426
|
|
|
—
|
|
|
—
|
|
|
(a)
|
|
||||
Foreign currency forward contracts
|
114
|
|
|
—
|
|
|
114
|
|
|
—
|
|
|
—
|
|
||||
Liabilities
|
|
|
|
|
|
|
|
|
|
|||||||||
Interest rate swaps
|
$
|
332
|
|
|
$
|
—
|
|
|
$
|
332
|
|
|
$
|
—
|
|
|
(b)
|
|
|
|
Three Months Ended March 31, 2013
|
||
Pro forma net revenues
|
|
$
|
42,987
|
|
Pro forma net income
|
|
$
|
2,090
|
|
Basic pro forma net income per share
|
|
$
|
0.14
|
|
Diluted pro forma net income per share
|
|
$
|
0.14
|
|
|
|
Amounts
|
||
Balance at December 31, 2013
|
|
$
|
18,281
|
|
Foreign currency translation adjustment
|
|
126
|
|
|
Balance at March 31, 2014
|
|
$
|
18,407
|
|
|
Useful Life
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Net Carrying Value
|
||||||
March 31, 2014
|
|
|
|
|
|
|
|
||||||
Subscriber relationships
|
10
|
|
$
|
8,837
|
|
|
$
|
757
|
|
|
$
|
8,080
|
|
Distribution rights
|
15
|
|
5,226
|
|
|
297
|
|
|
4,929
|
|
|||
Internally developed software
|
3
|
|
575
|
|
|
166
|
|
|
409
|
|
|||
Proprietary content
|
2
|
|
196
|
|
|
86
|
|
|
110
|
|
|||
Intellectual property
|
7
|
|
2,285
|
|
|
1,159
|
|
|
1,126
|
|
|||
|
|
|
$
|
17,119
|
|
|
$
|
2,465
|
|
|
$
|
14,654
|
|
December 31, 2013
|
|
|
|
|
|
|
|
||||||
Subscriber relationships
|
10
|
|
$
|
8,763
|
|
|
$
|
540
|
|
|
$
|
8,223
|
|
Distribution rights
|
15
|
|
5,183
|
|
|
212
|
|
|
4,971
|
|
|||
Internally developed software
|
3
|
|
571
|
|
|
118
|
|
|
453
|
|
|||
Proprietary content
|
2
|
|
195
|
|
|
61
|
|
|
134
|
|
|||
Intellectual property
|
7
|
|
2,280
|
|
|
1,074
|
|
|
1,206
|
|
|||
|
|
|
$
|
16,992
|
|
|
$
|
2,005
|
|
|
$
|
14,987
|
|
|
Year Ending
|
||
|
December 31,
|
||
2014
|
$
|
1,394
|
|
2015
|
1,792
|
|
|
2016
|
1,631
|
|
|
2017
|
1,464
|
|
|
2018
|
1,236
|
|
|
Thereafter
|
7,137
|
|
|
Total future amortization expense
|
$
|
14,654
|
|
|
Three Months Ended
|
||||
|
March 31,
|
||||
|
2014
|
|
2013
|
||
Net sales to foreign customers outside the U.S. and Canada
|
29
|
%
|
|
45
|
%
|
Net sales to Customer A
|
*
|
|
|
23
|
%
|
|
*
|
Represents less than
10%
of net sales in the period.
|
Interest Rate Derivatives
|
Notional
(in thousands)
|
|
Asset
(Liability)
|
|
Effective Date
|
|
Maturity Date
|
|
Index
|
|
Strike Rate
|
||||
Interest rate swap
|
$
|
1,690
|
|
|
(155
|
)
|
|
April 1, 2010
|
|
April 1, 2019
|
|
1-month LIBOR
|
|
5.91
|
%
|
Interest rate swap
|
$
|
1,690
|
|
|
(167
|
)
|
|
April 1, 2010
|
|
April 1, 2019
|
|
1-month LIBOR
|
|
6.07
|
%
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
|
Three Months Ended
|
||||||
|
March 31,
|
||||||
|
2014
|
|
2013
|
||||
|
(in thousands)
|
||||||
Mobile communications
|
$
|
28,975
|
|
|
$
|
22,907
|
|
Guidance and stabilization
|
8,010
|
|
|
17,020
|
|
||
Net sales
|
$
|
36,985
|
|
|
$
|
39,927
|
|
|
Three Months Ended
|
||||
|
March 31,
|
||||
|
2014
|
|
2013
|
||
Sales:
|
|
|
|
||
Product
|
48.7
|
%
|
|
63.2
|
%
|
Service
|
51.3
|
|
|
36.8
|
|
Net sales
|
100.0
|
|
|
100.0
|
|
Cost and expenses:
|
|
|
|
||
Costs of product sales
|
30.7
|
|
|
34.8
|
|
Costs of service sales
|
29.9
|
|
|
25.7
|
|
Research and development
|
9.9
|
|
|
7.4
|
|
Sales, marketing and support
|
20.2
|
|
|
17.4
|
|
General and administrative
|
13.9
|
|
|
8.5
|
|
Total costs and expenses
|
104.6
|
|
|
93.8
|
|
(Loss) income from operations
|
(4.6
|
)
|
|
6.2
|
|
Interest income
|
0.6
|
|
|
0.4
|
|
Interest expense
|
0.5
|
|
|
0.2
|
|
Other income, net
|
0.3
|
|
|
0.1
|
|
(Loss) income before income tax (benefit) expense
|
(4.2
|
)
|
|
6.5
|
|
Income tax (benefit) expense
|
(1.2
|
)
|
|
1.6
|
|
Net (loss) income
|
(3.0
|
)%
|
|
4.9
|
%
|
ITEM 3.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
ITEM 4.
|
CONTROLS AND PROCEDURES
|
ITEM 1.
|
LEGAL PROCEEDINGS
|
ITEM 2.
|
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
|
Exhibit
No.
|
|
Description
|
|
Filed with
this Form 10-Q
|
|
Incorporated by Reference
|
|||||
|
Form
|
|
Filing Date
|
|
Exhibit No.
|
||||||
3.1
|
|
|
Amended and Restated Certificate of Incorporation, as amended
|
|
|
|
10-Q
|
|
August 6, 2010
|
|
3.1
|
|
|
|
|
|
|
|
|
|
|
|
|
3.2
|
|
|
Amended and Restated Bylaws of KVH Industries, Inc.
|
|
|
|
8-K
|
|
April 30, 2014
|
|
3.1
|
|
|
|
|
|
|
|
|
|
|
|
|
4.1
|
|
|
Specimen certificate for the common stock
|
|
|
|
S-1/A
|
|
March 22, 1996
|
|
4.1
|
|
|
|
|
|
|
|
|
|
|
|
|
10.1
|
|
|
Ninth Amendment and Note Modification Agreement, dated as of December 31, 2013, by and between Bank of America, N.A. (the "Lender") and KVH Industries, Inc. (the "Borrower").
|
|
|
|
8-K
|
|
January 13, 2014
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
31.1
|
|
|
Rule 13a-14(a)/15d-14(a) certification of principal executive officer
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31.2
|
|
|
Rule 13a-14(a)/15d-14(a) certification of principal financial officer
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32.1
|
|
|
Section 1350 certification of principal executive officer and principal financial officer
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
101
|
|
|
The following financial information from KVH Industries, Inc.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Balance Sheets (unaudited), (ii) the Consolidated Statements of Operations (unaudited), (iii) the Consolidated Statements of Comprehensive (Loss) Income (unaudited), (iv) Consolidated Statements of Cash Flows (unaudited), and (v) Notes to Consolidated Financial Statements (unaudited).
|
|
X
|
|
|
|
|
|
|
Date: May 9, 2014
|
|
|
|
KVH Industries, Inc.
|
|
|
|
By:
|
/s/ P
ETER A. RENDALL
|
|
Peter A. Rendall
|
|
(Duly Authorized Officer and Chief Financial
Officer)
|
Exhibit
No.
|
|
Description
|
|
Filed with
this Form 10-Q
|
|
Incorporated by Reference
|
|||||
|
Form
|
|
Filing Date
|
|
Exhibit No.
|
||||||
3.1
|
|
|
Amended and Restated Certificate of Incorporation, as amended
|
|
|
|
10-Q
|
|
August 6, 2010
|
|
3.1
|
|
|
|
|
|
|
|
|
|
|
|
|
3.2
|
|
|
Amended and Restated Bylaws of KVH Industries, Inc.
|
|
|
|
8-K
|
|
April 30, 2014
|
|
3.1
|
|
|
|
|
|
|
|
|
|
|
|
|
4.1
|
|
|
Specimen certificate for the common stock
|
|
|
|
S-1/A
|
|
March 22, 1996
|
|
4.1
|
|
|
|
|
|
|
|
|
|
|
|
|
10.1
|
|
|
Ninth Amendment and Note Modification Agreement, dated as of December 31, 2013, by and between Bank of America, N.A. (the "Lender") and KVH Industries, Inc. (the "Borrower").
|
|
|
|
8-K
|
|
January 13, 2014
|
|
10.1
|
|
|
|
|
|
|
|
|
|
|
|
|
31.1
|
|
|
Rule 13a-14(a)/15d-14(a) certification of principal executive officer
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31.2
|
|
|
Rule 13a-14(a)/15d-14(a) certification of principal financial officer
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32.1
|
|
|
Section 1350 certification of principal executive officer and principal financial officer
|
|
X
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
101
|
|
|
The following financial information from KVH Industries, Inc.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Balance Sheets (unaudited), (ii) the Consolidated Statements of Operations (unaudited), (iii) the Consolidated Statements of Comprehensive (Loss) Income (unaudited), (iv) Consolidated Statements of Cash Flows (unaudited), and (v) Notes to Consolidated Financial Statements (unaudited).
|
|
X
|
|
|
|
|
|
|
1 Year KVH Industries Chart |
1 Month KVH Industries Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions