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Technology Stocks : KVH Industries, Inc.
KVHI 11.50-2.1%5:20 PM EDTNews

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To: Roadkill who wrote (149)7/23/1997 9:45:00 AM
From: Brian W. Nash   of 6936
 
Here is the Swedish military contract announcement, for yourreading pleasure:

KVH Awarded $1.9 Million Contract to Manufacture TACNAV Navigation Systems For Armored Vehicles



July 23, 1997 08:12 AM

MIDDLETOWN, R.I., July 23 /PRNewswire/ -- KVH Industries, Inc. KVHI announced today that the Swedish government has placed a $1.9 million order to exercise a contractual option and purchase additional TACNAV(TM) compass-navigation systems for their Army's fleet of armored vehicles. In conjunction with KVH's original, completed $5.5 million contract and a subsequent $2 million systems shipment, the cumulative value to date of the Swedish TACNAV purchases is $9.4 million.

"Ongoing purchases of our TACNAV system by the Swedish Army represents valuable validation of the product's superiority in providing the military with critical orientation information," said KVH Industries President and Chief Executive Officer Martin Kits van Heyningen. "As a result of such recognition, we are exploring with a number of other countries how TACNAV can meet their military navigational needs."

TACNAV is a low-cost, digital compass-navigation system that can be integrated with a global positioning system (GPS) receiver to provide the crews and commanders of armored vehicles with the directional data that determines safety, accuracy and maneuverability in military encounters.

A particularly important feature of TACNAV is its ability to provide orientation feedback with or without GPS. In the event GPS signals are lost on the battlefield, TACNAV substitutes dead reckoning for global positioning.

The unique auto-calibration technology developed by KVH has overcome another problem, the magnetic effect of a vehicle's metals on compass accuracy. KVH's auto-calibration corrects for both hard and soft iron errors, and most importantly for those created by turret rotation and vehicle tilt.

KVH Industries develops, manufactures and markets digital navigation systems and mobile satellite communications systems for use in commercial, military and marine applications. The company's mobile satellite communications products provide an "on the move" link to communications satellites such as INMARSAT, AMSC and DBS systems. KVH navigation products combine proprietary direction and orientation sensors with inputs from other instruments to provide fully integrated displays for military, marine and OEM customers. SOURCE KVH Industries, Inc.
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