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To: david james who started this subject10/22/2001 8:53:24 AM
From: Roy F
   of 6936
 
KVH Named Exclusive U.S. Reseller of Bell ExpressVu Mobile High-speed Internet

American Consumers at Sea and on the Road will be Able to Receive High-speed, Full-featured Internet Using KVH TracVision® Antennas

MIDDLETOWN, R.I.--(BUSINESS WIRE)--Oct. 22, 2001-- KVH Industries (Nasdaq: KVHI - news) announced today that Bell ExpressVu of Canada has KVH named the exclusive value-added reseller for mobile high-speed Internet service to U.S. customers. The new mobile DirecPC® service will be broadcast using Bell ExpressVu's high-powered Digital Video Broadcast (DVB) satellite. The DirecPC signal will be accessible using any of KVH's 18- and 24-inch DVB-compatible TracVision® satellite antennas mounted on boats and vehicles anywhere within the continental United States and as far as 100 miles off the coast. As the exclusive mobile reseller, KVH is the only company licensed to promote the high-powered DirecPC service, accept subscriptions, and activate accounts for mobile customers in the United States.

``We are tremendously excited to be working so closely with Bell ExpressVu,'' declared Martin Kits van Heyningen, KVH president and chief executive officer. ``Our award-winning in-motion satellite antenna technology is an excellent fit with Bell ExpressVu's high-powered satellite infrastructure. Together, we will make high-speed satellite Internet a reality for mobile American consumers.''

The DirecPC service is being offered by Bell ExpressVu, a Canadian satellite service provider, through arrangement with Hughes Network Systems. Launched in September 1997, Bell ExpressVu is Canada's fastest growing Direct-to-Home television company, providing the highest quality and most comprehensive satellite services across the country. With more than 800,000 subscribers, Bell ExpressVu is the fifth largest broadcast distributor in Canada. The company is wholly owned by BCE Inc., Canada's largest telecommunications company. Through its subsidiaries and affiliated companies, including wholly owned Bell Canada, BCE provides telecommunications services to 70 percent of Canada's population.

KVH Industries, Inc., is an international leader in developing and manufacturing innovative, mobile, high-bandwidth satellite communications systems, tactical navigation products, and fiber optic products. The company is based in Middletown, Rhode Island, and has a fiber optic research and manufacturing facility in Tinley Park, Illinois, and a European sales office in Hoersholm, Denmark.


--------------------------------------------------------------------------------
Contact:

KVH Industries Contact:
Jim Dodez, 401-847-3327
OR
Investor Relations Contact:
Morgen-Walke Associates
Kristian Svindland or Jolinda Taylor, 617-747-3600
OR
Financial Media Contact:
Morgen-Walke Associates
Ron Heckmann, 415-296-7383

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To: Roy F who wrote (904)10/22/2001 8:59:15 AM
From: Sector Investor
   of 6936
 
Bell ExpressVu

expressvu.com

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To: Sector Investor who wrote (905)10/22/2001 9:10:51 AM
From: Roy F
   of 6936
 
I guess they're just co-marketing the satellite television service. eom

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To: Roy F who wrote (904)10/22/2001 9:10:52 AM
From: voop
   of 6936
 
Roy

This struck me as strange. Is KVH a sales organization or one with strengths are innovation and engineering? Or will KVH outsource the sales end now that they have the agreement in place? I would think the auto, boat and RV dealers should be doing the selling.

Voop

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To: voop who wrote (907)10/22/2001 9:14:35 AM
From: Roy F
   of 6936
 
Voop, I think it's more like having AOL on the desktop on your new PC. If you want internet, it's available, or you can choose from any number of other providers.

Roy

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To: Roy F who wrote (908)10/22/2001 11:04:20 PM
From: voop
   of 6936
 
so KVHI is selling high speed mobile internet to ISP's?

Again are they a sales organization?

Sorry, I am lost.

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To: voop who wrote (909)10/23/2001 7:04:24 AM
From: Roy F
   of 6936
 
Try one of these... or wait for the CC:

KVH Industries Contact:
Jim Dodez, 401-847-3327
OR
Investor Relations Contact:
Morgen-Walke Associates
Kristian Svindland or Jolinda Taylor, 617-747-3600
OR
Financial Media Contact:
Morgen-Walke Associates
Ron Heckmann, 415-296-7383

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To: Roy F who wrote (910)10/23/2001 7:26:33 AM
From: Sector Investor
   of 6936
 
Q3 Earnings

Tuesday October 23, 7:21 am Eastern Time

Press Release

SOURCE: KVH Industries

KVH Industries Reports Results for the Third Quarter

Company Posts Continued Quarterly and Year-to-Date Growth

MIDDLETOWN, R.I.--(BUSINESS WIRE)--Oct. 23, 2001--KVH Industries (Nasdaq:
KVHI - news), a leading provider of high-bandwidth communications products, tactical
navigation systems, and fiber optic products, today reported its results for the third quarter
ended September 30, 2001. Revenue for the period was $7.9 million with a net loss of $1.6
million, or $0.14 per share. By comparison, KVH reported revenue of $7.5 million and a
net profit of $18,238, or $0.00 per share for the third quarter ended September 30, 2000.

For the nine months ended September 30, 2001, revenue increased 13% to $23.9 million
from $21.1 million for the nine months ended September 30, 2000. KVH reported a net
loss of $5.1 million, or $0.51 per share for the nine months ended September 30, 2001,
versus $1.0 million or $0.13 per share in the prior year.

``Our quarterly revenue growth was driven by a strong 15% growth in our satellite
communications products and a 112% increase in our fiber optic revenues over the third
quarter of fiscal year 2000,'' noted Martin Kits van Heyningen, president and chief executive
officer. ``This growth helped to offset slowness in the military market, where our revenues
were down 20% from the same quarter last year.''

Mr. Kits van Heyningen pointed out that the company has started to see a significant
acceleration in a number of KVH's ongoing programs to supply the TACNAV(TM) family
of tactical navigation systems for military vehicles in the United States and allied forces
abroad. ``The tragic events of September 11 and the resulting support for counter-terrorism
and homeland defense have created an increased and urgent demand for KVH's TACNAV
systems.''

``We have already communicated our commitment to the Defense Department that we will
do whatever it takes to support the U.S. military and its allies, and we will give military
requests for assistance the highest priority. We anticipate that military orders and
corresponding revenues will expand significantly in the coming months,'' he added.

As part of its mobile broadband initiative, KVH continued the development of its new
ultra-low profile satellite antenna, which will be capable of bringing satellite TV and
high-speed Internet into automobiles, sport utility vehicles, and mini-vans. On October 22,
KVH announced that it had achieved a milestone as Bell ExpressVu of Canada awarded
KVH the rights to serve as the exclusive reseller for the high-powered DirecPC®
broadband Internet service for mobile consumers in the United States. The new mobile
DirecPC service is broadcast using Bell ExpressVu's high-powered Digital Video Broadcast
(DVB) satellite, and can be received by KVH TracVision® antennas mounted on boats and
vehicles anywhere within the continental United States and as far as 100 miles off the U.S.
coast. KVH anticipates earning revenues from related equipment sales as well as through
monthly fees charged to service subscribers.

Development continued in KVH's photonic fiber initiative, which will allow the company to build high-speed optical networking components directly within a strand of optical fiber, a fundamentally different concept from the planar optic chip-based approach used by others.

With regard to the company's financial results, Richard Forsyth, chief financial officer, said, ``We've made significant progress in our two development projects and, as a result, project spending is beginning to decline. We anticipate further improvement in our operating results in the current quarter and are optimistic that we will return to profitability as our project spending winds down in the second half of 2002.''

Mr. Kits van Heyningen concluded, ``Even though world events and military planning add an element of unpredictability to any forecasts, we expect that while our annual revenue growth this year will end up within the 10-15% range, our revenue growth will return to its historic levels next year.''

Third Quarter Highlights

On July 18, 2001, KVH announced that it had been awarded a $1.5 million contract to provide its TACNAV tactical navigation system for use aboard the New Zealand Army's new fleet of Light Armored Vehicles (LAVs). On August 21, 2001, KVH announced that it had hired S. Joseph Bookataub as its Chief Operating Officer. The company cited Mr. Bookataub's management experience, from GE, Xerox, NCR, and other leading technology firms, and his proven record of controlling and reducing product costs in growing companies as key factors in his hiring.

KVH is webcasting its third quarter 2001 conference call live at 11:30 a.m. Eastern Time today through the company's web site at kvh.com. The audio also will be archived at the company web site within three hours following the completion of the call.

KVH Industries, Inc., is an international leader in developing and manufacturing innovative, mobile, high-bandwidth satellite communications systems, tactical navigation products, and fiber optic products. An ISO 9001-registered company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Hoersholm, Denmark.

-0-

KVH INDUSTRIES, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS

September 30, December 31,
2001 2000
(Unaudited) (Audited)

Assets:
Current assets:
Cash and cash
equivalents $ 13,258,113 5,411,460
Accounts
receivable, net 5,738,014 6,553,976
Costs and
estimated earnings
In excess of
billings on uncompleted
contracts 677,704 419,145
Inventories 3,569,368 3,600,660
Prepaid expenses and
other deposits 761,956 346,518
Deferred income taxes 637,799 637,799

Total current assets 24,642,954 16,969,558

Property and equipment,
net 7,134,534 6,580,375
Other assets, less
accumulated amortization 607,005 706,473
Deferred income taxes 2,238,430 2,238,430

Total assets $ 34,622,923 26,494,836

Liabilities and stockholders'
equity:
Current liabilities:
Bank line of credit $ -- 598,865
Current portion long-term
debt 81,111 81,111
Accounts payable 1,609,256 1,478,198
Accrued expenses 2,004,394 1,164,790
Customer deposits 1,124,914 1,195,091

Total current liabilities 4,819,675 4,518,055

Long-term debt 2,729,964 2,784,121

Total liabilities 7,549,639 7,302,176

Stockholders' equity:
Common stock 109,242 86,191
Additional paid-in capital 34,142,538 21,186,459
Accumulated deficit (7,178,496) (2,079,990)

Total stockholders' equity 27,073,284 19,192,660

Total liabilities and
stockholders' equity $ 34,622,923 26,494,836


KVH INDUSTRIES, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

Three months ended Nine months ended
September 30, September 30,
2001 2000 2001 2000

Net sales $7,939,402 7,461,492 23,901,290 21,109,261
Cost of sales 5,126,719 4,454,136 15,143,165 13,323,446
Gross profit 2,812,683 3,007,356 8,758,125 7,785,815

Operating
expenses:
Research &
development 1,722,112 882,350 5,727,613 2,972,633
Sales & marketing 1,017,777 1,433,292 6,245,013 4,474,048
Administration 711,309 605,353 1,989,354 1,697,414
(Loss) income
from operations (1,638,515) 86,361 (5,203,855)( 1,358,280)

Other income
(expense):
Other income
(expense) 7,950 (3,493) (28,806) (120,050)
Interest income
(expense), net 63,321 (51,533) 134,155 (129,535)
Loss (income) before
income tax expense
(benefit) (1,567,244) 31,335 (5,098,506) (1,607,865)

Income tax
expense (benefit) -- 13,097 -- (590,214)
Net (loss) income $(1,567,244) 18,238 (5,098,506) (1,017,651)

Per share
information:
(Loss) income per
share
Basic $(0.14) 0.00 (0.51) (0.13)
Diluted $(0.14) 0.00 (0.51) (0.13)

Number of shares
used in per share
calculation:
Basic 10,924,145 7,677,043 9,964,896 7,578,471
Diluted 10,924,145 8,127,286 9,964,896 7,578,471

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: failure to develop and market fiber optic products; lack of reliable vendors, service providers, and outside products; continued poor military sales cycles; unforeseen changes in competing technologies and products; worldwide economic variances; and poor or delayed research and development results. Additional factors are discussed in the company's Annual Report on Form 10K filed with the Securities and Exchange Commission on February 8, 2001. Copies are available through the company's Investor Relations Department and web site, www.kvh.com.

Contact:

KVH Industries Contact:
Richard Forsyth
401-847-3327
or
Investor Relations Contact:
Morgen-Walke Associates
Kristian Svindland or Jolinda Taylor
617-747-3600
or
Financial Media Contact:
Morgen-Walke Associates
Ron Heckmann
415-296-7383

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To: Sector Investor who wrote (911)10/23/2001 7:31:09 AM
From: Sector Investor
   of 6936
 
Tabular info posted in fixed font.


KVH INDUSTRIES, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS

September 30, December 31,
2001 2000
(Unaudited) (Audited)

Assets:
Current assets:
Cash and cash
equivalents $ 13,258,113 5,411,460
Accounts
receivable, net 5,738,014 6,553,976
Costs and
estimated earnings
In excess of
billings on uncompleted
contracts 677,704 419,145
Inventories 3,569,368 3,600,660
Prepaid expenses and
other deposits 761,956 346,518
Deferred income taxes 637,799 637,799

Total current assets 24,642,954 16,969,558

Property and equipment,
net 7,134,534 6,580,375
Other assets, less
accumulated amortization 607,005 706,473
Deferred income taxes 2,238,430 2,238,430

Total assets $ 34,622,923 26,494,836

Liabilities and stockholders'
equity:
Current liabilities:
Bank line of credit $ -- 598,865
Current portion long-term
debt 81,111 81,111
Accounts payable 1,609,256 1,478,198
Accrued expenses 2,004,394 1,164,790
Customer deposits 1,124,914 1,195,091

Total current liabilities 4,819,675 4,518,055

Long-term debt 2,729,964 2,784,121

Total liabilities 7,549,639 7,302,176

Stockholders' equity:
Common stock 109,242 86,191
Additional paid-in capital 34,142,538 21,186,459
Accumulated deficit (7,178,496) (2,079,990)

Total stockholders' equity 27,073,284 19,192,660

Total liabilities and
stockholders' equity $ 34,622,923 26,494,836


KVH INDUSTRIES, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

Three months ended Nine months ended
September 30, September 30,
2001 2000 2001 2000

Net sales $7,939,402 7,461,492 23,901,290 21,109,261
Cost of sales 5,126,719 4,454,136 15,143,165 13,323,446
Gross profit 2,812,683 3,007,356 8,758,125 7,785,815

Operating
expenses:
Research &
development 1,722,112 882,350 5,727,613 2,972,633
Sales & marketing 1,017,777 1,433,292 6,245,013 4,474,048
Administration 711,309 605,353 1,989,354 1,697,414
(Loss) income
from operations (1,638,515) 86,361 (5,203,855)( 1,358,280)

Other income
(expense):
Other income
(expense) 7,950 (3,493) (28,806) (120,050)
Interest income
(expense), net 63,321 (51,533) 134,155 (129,535)
Loss (income) before
income tax expense
(benefit) (1,567,244) 31,335 (5,098,506) (1,607,865)

Income tax
expense (benefit) -- 13,097 -- (590,214)
Net (loss) income $(1,567,244) 18,238 (5,098,506) (1,017,651)

Per share
information:
(Loss) income per
share
Basic $(0.14) 0.00 (0.51) (0.13)
Diluted $(0.14) 0.00 (0.51) (0.13)

Number of shares
used in per share
calculation:
Basic 10,924,145 7,677,043 9,964,896 7,578,471
Diluted 10,924,145 8,127,286 9,964,896 7,578,471

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To: robert b furman who wrote (891)10/23/2001 6:00:59 PM
From: Roy F
   of 6936
 
Bob!!!

Are you still with us? From the Yahoo! posts regarding the CC, I guess we're to expect additional PR tomorrow about the satellite TV/internet agreement.

I trust all is well with you.

Roy

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