Technology StocksKVH Industries, Inc.

Previous 10 Next 10 
To: Brian W. Nash who wrote (141)7/16/1997 7:57:00 AM
From: SirAlexx
   of 6947
To All; there is an upcoming private placement on a company called Futuretrak.This company makes flat panel screens for digital satellite transmission reception, that replaces the big dish and cone, and is strictly for the mobile market; boats, trucks,RV's, etc.

For more information email

Share RecommendKeepReplyMark as Last Read

To: SirAlexx who wrote (142)7/16/1997 8:05:00 PM
From: Mickey Szilagyi
   of 6947
Sounds like competition for KVHI? MJS

Share RecommendKeepReplyMark as Last Read

To: david james who wrote ()7/18/1997 6:03:00 PM
From: Brian W. Nash
   of 6947
So, earnings next Tuesday after the close?

Hope today's weak market doesn't spill over into next week.

Share RecommendKeepReplyMark as Last Read

To: Mickey Szilagyi who wrote (143)7/22/1997 12:53:00 PM
From: Brian W. Nash
   of 6947
There's already at least one competing company I'm aware of (DTSI). DTSI's products are smaller and lighter than KVHI's, but they are not as well-managed.

Share RecommendKeepReplyMark as Last Read

To: Brian W. Nash who wrote (145)7/22/1997 5:09:00 PM
From: Brian W. Nash
   of 6947
Numbers for the quarter. EPS was as forecast. I want to look over it carefully before I comment.

"KVH Industries' Growth Continues in Second Quarter With 13% Revenue, 26% Net Income Increases

July 22, 1997 04:12 PM

MIDDLETOWN, R.I., July 22 /PRNewswire/ -- KVH Industries, Inc. KVHI , a leading manufacturer of communication and navigation systems for commercial, marine and military markets, announced today that revenues for the second quarter ended June 30, 1997, grew 13% to $5.8 million from $5.1 million for the same period last year.

Net income rose 26% to $402,167 in the 1997 second quarter compared to $320,099 in the comparable 1996 quarter. Earnings per share for the three months ended June 30, 1997, were $0.05 per share compared to $0.04 per share in the 1996 second quarter.

For the first six months of 1997, revenues grew 18% to $11.7 million from $9.9 million in the first six months of 1996. Net income for the 1997 six months was $1 million compared to $507,666 for the 1996 comparable six-month period. Earnings per share for the first six months of 1997 were $0.13 per share compared to $0.08 per share for the comparable 1996 period.

"We are pleased with our second quarter results, particularly as the net income increase was achieved during a period of significant facility, personnel and product expansion," said Chief Executive Officer and President Martin Kits van Heyningen. "The considerable interest customers expressed in TracVision II during the quarter is very encouraging, and a final testing phase is underway to ensure that the new product meets the standards set by our initial unit. Both KVH and Station 12 made notable strides during the quarter in implementing various terms of our Memorandum of Understanding, and we also progressed in formalizing certain aspects of this venture to jointly market and sell KVH's Tracphone 50 and Station 12's Inmarsat satellite services."

Revenue growth during the second quarter was attributable primarily to AMSC sales gains, which completed that company's $10 million order for KVH Tracphones. As compared to sales distribution in the second quarter of 1996, total commercial shipments comprised a greater percentage and military sales a smaller percentage of overall revenues in the 1997 second quarter.

Gross profit for the 1997 second quarter increased 10% over the 1996 comparable quarter, to $2.5 million from $2.3 million. Due to recent manufacturing capacity enhancements and warranty changes, gross profit as a percentage of net sales for the 1997 second quarter was 44%, a slight decline from 45% in the 1996 second quarter.

Gross profit for the six months ended June 30, 1997, increased 20% to $5.3 million as compared to $4.4 million in the 1996 first half, and as a percentage of sales, gross profit in the 1997 six-month period increased 1% over the same 1996 period.

KVH Industries develops, manufactures and markets digital navigation systems and mobile satellite communications systems for use in commercial, military and marine applications. The company was founded in 1982, and has headquarters in Middletown, RI, USA, and an international office in Hoersholm, Denmark.

This press release may contain certain forward looking statements that involve risks and uncertainties. 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, those discussed in the Company's Annual Report on Form 10K filed with the Securities and Exchange Commission on March 27, 1997. Copies are available from the Company's Investor Relations Department.


June 30, December 31,
1997 1996
(Unaudited) (Audited)

Current assets:
Cash and cash equivalents $8,881,872 $7,005,682
Accounts receivable, net 1,699,060 6,130,567
Contract receivables 88,745 29,226
Costs and estimated earnings in excess
of billings on uncompleted contracts 1,090,983 835,720
Inventories 3,383,054 3,242,270
Prepaid expenses and other deposits 232,338 179,705
Deferred income taxes 134,552 134,552
Total current assets 15,510,604 17,557,722
Property and equipment, net 4,462,729 3,881,088
Other assets, less accumulated
amortization 6,495 25,978
Deferred income taxes 88,862 88,862
Total assets $20,068,690 $21,553,650

Liabilities and stockholders' equity:
Current liabilities:
Current lease obligation $32,747 $57,676
Borrowings under bank line of credit 500,000 0
Accounts payable 1,361,034 1,031,309
Accrued expenses 569,797 1,371,193
Customer deposits 0 2,527,500
Total current liabilities 2,463,578 4,987,678
Obligations under capital leases,
excluding current installments 0 3,341
Total liabilities 2,463,578 4,991,019
Stockholders' equity:
Common stock 70,457 69,932
Additional paid-in capital 14,920,602 14,884,806
Accumulated earnings 2,614,053 1,607,893
Total stockholders' equity 17,605,112 16,562,631
Total liabilities and stockholders'
equity $20,068,690 $21,553,650


Three months ended Six months ended
June 30, June 30,
1997 1996 1997 1996

Net sales $5,770,505 $5,113,602 $11,686,838 $9,894,261
Cost of sales 3,250,743 2,829,248 6,429,773 5,521,637
Gross profit 2,519,762 2,284,354 5,257,065 4,372,624
Research and
development 635,275 674,297 1,241,221 1,284,018
Sales and
marketing 950,641 785,701 1,729,740 1,643,923
Administration 369,672 394,284 846,223 710,419
Income from
operations 564,174 430,072 1,439,881 734,264
Other income
Other income
(expense) (3,080) 8,975 (10,119) 10,226
Interest income,
net 99,789 102,660 186,275 102,660
Foreign currency
gain (loss) 10,335 (29,612) 6,461 (22,446)
Income before
income taxes 671,218 512,095 1,622,498 824,704
Income tax expense 269,051 191,996 616,338 317,038
Net income $402,167 $320,099 $1,006,160 $507,666

Per share
Income per share $ 0.05 $0.04 $0.13 $0.08
Number of shares
used in per share
calculation 7,489,837 7,404,464 7,490,228 6,470,208

SOURCE KVH Industries, Inc. "

Share RecommendKeepReplyMark as Last Read

To: Brian W. Nash who wrote (146)7/22/1997 5:52:00 PM
From: david james
   of 6947
I missed the conference call, but a recording will be available starting tomorrow at 8 a.m. at 1-800-633-8284.

Looking at the minute chart. The day's action looks dominated by the action around 12:30
A 6k sell at 8 1/2
A 13k buy at 8 13/16 (it appears)
A 2k sell at 8 1/2
A 1k sell at 8 3/8

Not sure what meeting estimates will do. Big question is whether they gave the analysts any reason to improve or doubt the estimates for next two quarters.


Share RecommendKeepReplyMark as Last Read

To: Brian W. Nash who wrote (145)7/22/1997 8:20:00 PM
From: Mickey Szilagyi
   of 6947
I see DTSI just reported this quarter's earnings as a loss of $.21. Revenues were below last year's same qt. Two analysts cover DTSI according to Yahoo, one a moderate buy and one a hold. They are ranked 103 out of 136 in their field.
KVHI on the other hand met earnings estimates in the plus column and are covered by two analyst both with strong buys. KVHI ranked 3 out of 35. DTSI and KVHI must differ enough to be in different catagories. Do DTSI units automatically follow a signal on a pitching boat? So I wonder if DTSI is a threat to KVHI. Looks to me like KVHI is in much better shape, at least for now. MJS

Share RecommendKeepReplyMark as Last Read

To: david james who wrote (147)7/22/1997 10:31:00 PM
From: Roadkill
   of 6947
I listened in on the conference call today. It went well. A couple of things caught my interest.

First, KVH has an order backlog of about $13 MM, which I believe is scheduled for delivery in the 3Q and 4Q 1997. Most of this backlog is for navigation equipment, which apparently has higher margins. Second, testing for TracVision II was just completed. Testing was very successful. The CEO (I can't spell his name without checking, so I'll just call him Martin) said that the product has drawn significant customer interest. It should begin shipping this quarter.

Second, testing for the INMARSET Tracphone continues, and has thus far been successful. Shipping should begin by the end of this quarter. The company looks forward to receiving revenue, as well as air-time residuals, from this product.

Third, the company announced a new TACNAV contract with Sweden, this one for $1.9 MM.

The company also announced a small contract with NEC Australia, but I forgot which product this contract involved. This is the Australian arm of the Japanese giant NEC. Although the contract is small, it offers a promising future connection.

Fourth, either Martin or Forsyth referred to R&D revenues the company is receiving from a large defense company to develop some sort of laser-based incoming fire system that would work with TACNAV. I kind of fell asleep during this part of the call, so I don't remember much.

Fifth, the digital gyro is doing well. Marine sales are "gaining momentum".

Finally, the company stressed that it is in a period of transition, from reliance on a major contract (AMSC) to numerous smaller contracts. KVH does not expect much more revenue from AMSC, at least at this time.

In short, it seems KVH is moving on from the AMSC contract in a nice fashion. I was concerned where KVH was going to find its revenue over this 2Q and the 3Q with the AMSC contract gone, and new products just being introduced. It appears that the company is bridging the gap just fine.

These notes are strictly from memory, and may not be totally accurate. I welcome any corrections.

Share RecommendKeepReplyMark as Last Read

To: Roadkill who wrote (149)7/22/1997 11:47:00 PM
From: Gary
   of 6947
To MWalsh and all,
You gotta love KVHI's balance sheet. It's current ratio (current assets to current liabiliities) and the fact that it has $1 per share in cash and cash equivalents. I think it will begin to get more attention now, and if it hits estimates for this year, it should be, short term, an $11-12 stock before year's end. I still like this stock long term but may sell half my position at $11-12. (My discipline now is to sell half of anything I have that has doubled in the past 2 years, so I am taking some money off the table and will let the rest ride....) Good luck, all. Gary C

Share RecommendKeepReplyMark as Last Read

To: Mickey Szilagyi who wrote (148)7/23/1997 9:32:00 AM
From: Brian W. Nash
   of 6947
DTSI was covered in the same issue of Red Chip Review that started coverage of KVHI. I'll have to read back over it, but I recall the tone was somewhat negative. I'll let you know tomorrow.

Share RecommendKeepReplyMark as Last Read
Previous 10 Next 10 

Copyright © 1995-2017 Knight Sac Media. All rights reserved.Stock quotes are delayed at least 15 minutes - See Terms of Use.