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To: WalterP who wrote (6913)8/2/2017 9:14:48 AM
From: nissan
1 Recommendation   of 6936
 

Hello All

KVH beats by .13

Will be interesting to see if the new philosophy is to beat quarterly estimates by a significant amount the next few quarters.

J

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To: nissan who wrote (6915)8/2/2017 12:23:17 PM
From: WalterP
   of 6936
 
KVH Industries Reports Second Quarter 2017 Results


MIDDLETOWN, RI, August 2, 2017
— KVH Industries, Inc., (Nasdaq: KVHI) reported financial results for the quarter ended June 30, 2017 today. The company will hold a conference call to discuss these results at 10:30a.m. ET today, which can be accessed at investors.kvh.com. Following the call, a replay of the webcast will be available through the company’s website.


Second Quarter 2017 Highlights

• Revenue for the second quarter of 2017 was $40.5 million, a decrease of 12%, from $46.0 million in the second quarter of 2016. On a constant currency basis, revenue decreased 10%.

• In the second quarter of 2017, mini-VSAT Broadband Airtime revenue grew $1.0 million, or 6%, compared to the second quarter of 2016. Likewise, the number of airtime subscribers also increased 6% for this period. Usage-based airtime plans grew to 60% for all airtime plans, helping increase airtime gross margin to a record 39%.

• AgilePlans, our new Connectivity as a Service Program, for the commercial maritime sector, launched successfully in the quarter, representing 20% of all mini-VSAT Broadband shipments. The revenue recognized from AgilePlans was not significant due to the time between shipments and activation.

• Strong inertial measurement unit (IMU) sales drove fiber optic gyro (FOG) product revenue higher by 11% and contracted engineering service revenue almost doubled in the second quarter of 2017 compared to the second quarter of 2016.

• Net loss in the second quarter of 2017 was $2.0 million, or $0.12 per share, compared to net loss of $0.8 million, or $0.05 per share, in the second quarter of 2016.

• Non-GAAP net income in the second quarter of 2017 was $0.5 million, or $0.03 per share, compared to $1.2 million, or $0.08 per share in the second quarter of 2016.

• Non-GAAP adjusted EBITDA in the second quarter of 2017 was $2.1 million compared to $3.5 million in the second quarter of 2016.

Commenting on the quarter, Martin Kits van Heyningen, KVH’s Chief Executive Officer, said, “We continue to be pleased with the growth in our Airtime service revenues and margins. We recorded another quarter of solid airtime and subscriber growth, and achieved record airtime gross margins of 39%. In addition, we launched our new subscription-based Connectivity as a Service Program, AgilePlans, this quarter and the feedback we have received so far continues to be very positive. AgilePlans represented over 38% of TracPhone V7-IP and V11-IP maritime shipments in the second quarter.”

The company operates in two segments, mobile connectivity and inertial navigation. Net sales for the mobile connectivity segment in the second quarter of 2017 decreased $2.8 million, or 8%, as compared to the second quarter of 2016 due to lower mini-VSAT Broadband product sales due in part to the fact that, under our AgilePlans program, we do not recognize revenue from products delivered to customers, and lower content and training revenues driven primarily by the weakness in the British Pound, partially offset by higher airtime revenues. Net sales for our inertial navigation segment in the second quarter of 2017 decreased $2.7 million, or 30%, compared to the second quarter of 2016, driven by a $3.5 million decrease in TACNAV sales, due to a large order that occurred in the second quarter of 2016. This decrease was partially offset by an increase in FOG product sales and contracted engineering services.

Full PDF of the quarterly report at:

phx.corporate-ir.net

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To: nissan who wrote (6915)8/2/2017 3:05:19 PM
From: awecr2
   of 6936
 
So CaaS appears to be doing as expected and will be a major contributor to growth going forward. At the same time, for the third year in a row, we are seeing the pattern of projecting out an end of year uptick from TacNav. As history has proven, it is always a disappointing result. This should be a broader concern in the short run and I was surprised by the limited scope of questioning around this on the CC. Maybe everyone is just tired of the disappointment, considers TacNav dead and has modeled as such. Also, MKVH poured cold water on the autonomous vehicle category in two ways. First, he emphasized the risks associated with this being R&D. The second point is that he is now suggesting one high precision sensor over an IMU/INS approach. These two points, in addition to nothing to add, after saying they would every quarter, suggests to me he's already preparing us for a pivot away. Just a gut feel based on previous behavior. Otherwise, this quarter and guidance were what I expected. It's too early to see beneficial results from CaaS but we shouldn't be surprised by other areas because they haven't introduced anything of significance, from a hardware pov, for years. He is starting to provide a little more color on HTS so, clearly they were waiting on some satellite launches. I continue to believe speed is the most important component toward a sustained re acceleration of sales. To the best of my knowledge, there wasn't a weather related event on the east coast. I haven't even heard of other companies saying this. It's not rocket science. It's the 5 year old hardware that is about to be obsolete that is hindering leisure sales. Why would anyone in the leisure category spend $10k to $50k on hardware that could be obsolete in 6 months? It might not be obsolete but most would rather have certainty. KVH has played the discounting game for so long that no one believes the discounts are temporary, anymore.

One thing of note, consolidated vsat/mobilecast service revenues were positive for the first time in 6 quarters. This is exclusive of engineering services that were negative.

In a nut shell, If you wonder why sales growth is going to be so great going forward in 2018, it's because all hardware sales are contracting significantly now. KVH is becoming a CaaS based company. We need to be focusing on this growth and nothing else, until proven otherwise. In my analysis, 4th quarter should be the first of many double digit growth quarters, when focusing just on VSAT service revenues. The overall consolidated service revenue number will lag the pure vsat service number, however.

Aw

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To: awecr2 who wrote (6917)9/12/2017 11:44:25 AM
From: WalterP
   of 6936
 
KVH Introduces Videotel Performance Manager, a Breakthrough Solution for Maritime Training

Combines award-winning content and a cutting-edge software platform for transforming a fleet’s training activities


MIDDLETOWN, R.I. and LONDON, Sept. 11, 2017 (GLOBE NEWSWIRE) -- To help maritime operators ensure that crew are training and performing at their peak, KVH Industries, Inc. (Nasdaq:KVHI) has introduced Videotel Performance ManagerTM, a breakthrough solution for maritime training. The scope of the Videotel Performance Manager offering is unparalleled in the maritime industry, combining the extensive range of award-winning training content from VideotelTM with the power of web-based data analytics – all from KVH, a technology innovator known for its maritime solutions.

A photo accompanying this announcement is available at: globenewswire.com

By providing maritime managers with actionable insights about their fleets’ training activities, Videotel Performance Manager is designed to help increase operational efficiency, safety, and crew performance. The cloud-based software platform ensures that a crew’s latest training records are accessible from any web-enabled device, and interactive, dynamically rendered reports and dashboards present easy-to-view data about crew performance, skill levels, strengths, weaknesses, and training schedules.

Leading ship management company Thenamaris, one of the early users of Videotel Performance Manager, notes the benefits: “It offers a wide range of sophisticated features and reports enabling our Marine Personnel team to have accurate and timely insight of the training progress per person, per vessel, per title,” says Yannos Koudounas, Performance & Development Supervisor, Thenamaris (Ships Management) Inc. “Consequently, this application becomes a valuable tool in decision-making for our seafarers’ onboard training plans. We like its simplicity and the fact that it is constantly upgraded with new features. Most of all, we have found that it is well-supported by a skillful and fast-responding team.”

At the core of Videotel Performance Manager’s cutting-edge training management tools is the user-friendly web application, which was developed with input from maritime training professionals. Key features include:

Crew Management – for managing seafarers’ training programmes as they move from vessel to vessel Training Reports – for seeing what training is being carried out, where, and by whom, and for generating evidence of compliance required during an external audit or ship inspection Schedule Builder – for creating training plans for seafarers based on an established safety management system Performance Monitoring – for tracking progress of crew against a recommended schedule of training
    “The ability to quickly see the training status of all seafarers in a fleet provides important advantages for a maritime training manager,” says Mark Woodhead, KVH senior vice president, EMEA. “With an easy-to-use dashboard, the manager can assess the precise level of a crew’s training, preparation, and compliance, which ultimately helps to keep operating costs low, and reduce safety and financial risk. This isn’t just recordkeeping, it’s valuable intelligence for maritime training managers.”

    Videotel Performance Manager is available in three different packages, called Essential, Professional, and Master, that vary in the number of features and training titles provided. All packages include Crew Management, Training Reports, Schedule Builder, and Performance Monitoring. Additional features will be added over time.

    Videotel’s maritime training programmes are in use on more than 12,000 vessels worldwide and cover a wide range of topics related to the Standards of Training, Certification, and Watchkeeping established by the maritime industry. The extensive selection includes 950 new and updated titles – available in a range of formats including computer-based training, videos, and gamified learning. Videotel’s Practical Engineering Suite includes 100 modules covering topics critical to marine engineers; it was released earlier this year on a variety of platforms, including mobile devices, which was an industry first for maritime eLearning.

    Videotel has a 40-year track record of developing training content in partnership with leading industry bodies and organizations, and the company’s videos have received more than 100 awards. The company began creating training materials in 1973 at the request of the Intergovernmental Maritime Consultative Organization, the forerunner to the International Maritime Organization, which today oversees standards for maritime training. In 2015, Videotel became part of KVH, a technology company whose maritime products and services include mini-VSAT Broadbandsm global connectivity and the IP-MobileCastTM service for delivering news, entertainment, chart, and weather content via satellite to vessels at sea.

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    To: WalterP who wrote (6918)9/12/2017 11:48:54 AM
    From: WalterP
       of 6936
     
    Moving Map Display for Military Vehicles Provides Critical Navigation Information on Touchscreen

    Designed for demanding battlefield conditions, the MMD provides soldiers with an immediate visual map reference

    MIDDLETOWN, R.I., Sept. 12, 2017 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq:KVHI), has introduced the TACNAV®Moving Map Display (MMD), offering real-time moving map technology for military vehicles. The TACNAV MMD provides an easy-to-read, easy-to-use graphical navigation capability by combining available internal or external GPS/GNSS with TACNAV’s inertial or compass-guided navigation solution.


    Soldiers who once relied on grid reference alone now have the benefit of viewing a visual map on a 10-inch diagonal, high bright color display viewable in all lighting conditions. They can create, store, and activate waypoints and routes from the touchscreen, which helps increase situational awareness.

    The TACNAV MMD displays position, heading, speed, cross track error, distance, and bearing to waypoint. Vehicle location and other pertinent navigation information is shown on either a satellite or topographic map stored locally on the TACNAV MMD. The information can be displayed to the vehicle commander, driver, and other occupants as required. The TACNAV MMD is capable of presenting navigation information in multiple languages, enhancing joint multinational operations.

    “The display was designed for ease of use with a touchscreen that provides intuitive operation, which is a major strength on the battlefield,” says Dan Conway, executive vice president of KVH’s inertial navigation group. “Anything that increases a soldier’s situational awareness will help to keep that soldier safe. The moving map display enhances the capabilities of our widely fielded TACNAV systems, which have been helping to keep soldiers out of harm’s way for years.”

    The TACNAV MMD is compatible with existing TACNAV systems including the TACNAV Light/GPS and the TACNAV 3D, and will be compatible with future TACNAV systems.

    KVH’s TACNAV product line is currently in use by the U.S. Army and Marine Corps, as well as many allied militaries, includingSaudi Arabia, Canada, Great Britain, France, Germany, Sweden, Spain, Egypt, Botswana, Australia, New Zealand, Taiwan,Romania, Poland, Turkey, Malaysia, Switzerland, South Korea, Singapore, Brazil, and Italy.

    From September 12-15, KVH is displaying the TACNAV MMD in Booth N5 160, at Defence and Security Equipment International(DSEI), held at the ExCeL convention center in London, U.K. KVH will also display the TACNAV MMD at AUSA, in Washington, DC, from October 9-11, Booth 7443.


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    To: awecr2 who wrote (6917)9/27/2017 4:32:25 PM
    From: WalterP
    1 Recommendation   of 6936
     
    Today we finally set some new 2017 highs in KVHI and not a peep from anyone in almost 2 months, except for a couple of KVH news releases. Is anyone still here or in KVHI?

    Yes, I know (very well, thank you) that KVHI stock performance has been a total disappointment for way too many years, but hopefully the new Connectivity as a Service Program AgilePlans will finally show some building momentum for sales and another beat this quarter.

    Let's get this show rolling!

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    To: WalterP who wrote (6920)9/28/2017 7:44:05 AM
    From: nissan
       of 6936
     
    Hi Walter

    Just good to see the stock price under accumulation.

    Looking forward to next cc. I think our biggest surprise will be how KVH is taking control of their content and airtime expenses. I think a lot of it is moving inside KVH doors. Not a lot has been said about this by KVH yet, but I am expecting a nice surprise as to what they will be able to include in their air time content and the lowering of costs.

    Read a small article where an analyst (didn't say who) was increasing quarter estimates significantly.

    I believe we are on the verge of both airtime and fog finally pulling us up together.

    KVH still has quite a hiring list and many new positions.



    J

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    To: nissan who wrote (6921)9/28/2017 10:45:11 AM
    From: awecr2
       of 6936
     
    Hi guys,

    I echo your sentiments. At the same time, we are still waiting on the elusive TacNav contract and true HTS hardware. It’s these two events that make $12 a distant floor and not the unbreakable ceiling it is now.

    KVH is adding in incremental income opportunities which is good for the growth of the reoccurring baseline. They have also added some more Agile plan installation locations. If each location averaged one install a week, KVH would see unit run rate double over the current annual 1k run rate. It seems like a very low bar considering the aggressive all-in pricing plans. They need to improve the hardware and data package to see a true acceleration in growth, however. Other than minor changes, the v7 has been around for 10 years with only a minor increase in data rates. The competition is now offering comparable, if not better, hardware and data packages. The good thing is that the agile plans are still unique and priced very competitively.

    For the 1st time in over 2 years, currency exchange rates will work to KVHs favor. Albeit, minor. It’s nice to have this headwind behind us.

    And of course, it would be nice to be positively surprised for once. I just don’t think q3 will be that quarter, from a financial perspective, because of the lack of transformative hardware. What happens if TacNav continues to be a dud? They will be guiding lower for Q4, even if Agile plans are taking off. I wonder if that was the plan all along? Get us through 2017 by manipulation so we focus on 2018 and the explosive growth that will happen when they finally offer an HTS product line.


    I will feel much better when TacNav or HTS happens. Been waiting for 3 years. Still waiting. And I think we will all be ecstatic if a low cost, mass market FOG is introduced.

    Aw

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    To: WalterP who wrote (6920)9/29/2017 12:17:55 PM
    From: richardred
       of 6936
     
    I do think Vintage will be pushing. Ironically I am a IEC stockholder also . Hedgeclipper mentioned IEC in a slide presentation on this board. Vintage did win the proxy battle at IEC. However IMO they like to buy on the cheap. RE: Anaren Microwave/API

    vintagecapitalmanagement.com

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    To: awecr2 who wrote (6922)10/3/2017 9:08:33 AM
    From: awecr2
       of 6936
     
    Hey guys,

    KVH has removed the deep discount promotional brochures from the special offers link that they have been using for the last two years on minivsat hardware and services. Usually they just update the expiration date 1 or 2 quarters ahead. It’s possible they might just repost with new expiration dates but this is definitely a change in their approach. It’s more likely to be an indication we will soon see new hardware with true HTS or Agile plans are performing above expectations.

    Aw

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