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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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To: Roy F who wrote (913)10/24/2001 7:53:53 AM
From: Roy F
   of 6936
 
KVH Industries Unveils TracNet Mobile Internet Server for High-speed Internet

TracNet Makes Broadband Internet Access at Sea a Reality via Mobile DirecPC®, Available only from KVH Industries

MIDDLETOWN, R.I.--(BUSINESS WIRE)--Oct. 24, 2001-- Broadband Internet access is now a reality aboard vessels with the introduction of the TracNet(TM) Mobile Internet Server from KVH Industries (Nasdaq: KVHI - news). When connected to a Digital Video Broadcast (DVB)-compatible KVH TracVision® antenna and the high-powered version of the DirecPC® satellite service, TracNet receives Internet downloads at speeds reaching 400 kilobits per second (Kbps). This new mobile Internet server brings together all of the elements necessary to offer high-speed Internet and wireless data access through the same award-winning TracVision antennas used to receive satellite TV entertainment.

``The TracNet Mobile Internet Server is the newest component in KVH's mobile satellite communications solution,'' said Martin Kits van Heyningen, president and chief executive officer. ``The combination of TracNet, our TracVision satellite TV antennas, and our status as the exclusive reseller of mobile DirecPC Internet service for U.S. consumers has positioned KVH as the one company that can provide a comprehensive, satellite-based television, Internet, and communications solution to the American mobile consumer.''

TracNet consists of the server, a DirecPC modem, and a cellular/satellite return path antenna. Any one of KVH's existing DVB-compatible TracVision antennas can be used to receive the high-powered DirecPC downloads and relay them to the TracNet server. Two-way access to Internet data from any laptop or PC aboard is available through TracNet's 802.11b wireless network, which permits multiple users to surf the web at any time from virtually anywhere on the vessel. Requests for additional data, outgoing e-mail, and other information are relayed to DirecPC through TracNet's return path, which includes a land-line connection for use while at dockside and a wireless satellite/cellular system for use underway.

Not only does TracNet provide access to broadband Internet data, but it does so using the existing DVB-compatible TracVision antennas that many KVH customers already have aboard their vessels. As a result, passengers and crew can easily switch from their favorite satellite TV entertainment to high-speed, fully functional Internet access without purchasing a new antenna. At the same time, all future TracVision antennas will be ``TracNet-ready,'' providing new TracVision owners the option to access the Internet via KVH's mobile Internet solution.

``The TracNet system offers a dramatic increase in download speed compared to existing mobile Internet solutions,'' explained Ian Palmer, vice president of satellite sales. ``Internet downloads will be delivered to TracNet users via DirecPC at speeds reaching 400 Kbps, 6 times faster than the more expensive Inmarsat B HSD, 7 times faster than the 56 Kbps dial-up connections found in most homes, and almost 30 times faster than the next fastest alternative mobile data connections. This translates into significant cost savings based on download size. For instance, a 1 megabyte file would typically cost $0.26 to receive via TracNet versus $3.70 using a cellular modem or almost $42.00 using Iridium.''

The initial TracNet Mobile Internet Server will be offered for marine vessels. KVH has fielded initial versions of the product aboard Canadian Coast Guard vessels. A TracNet system suitable for use aboard recreational vehicles, trucks, motor coaches, and automobiles will be introduced soon.

``The launch of TracNet and the introduction of mobile DirecPC directly relate to our ongoing development of ultra-low profile satellite antennas suitable for use aboard sport utility vehicles, mini-vans, and smaller automobiles,'' remarked Kits van Heyningen. ``An exploding population of Internet users, increasing acceptance of wireless technology as a means to access the Internet, and the transformation of vehicles in multimedia platforms is opening an exciting new market, and KVH is able to offer the only mobile broadband solution.''

The DirecPC service was developed by Hughes Network Systems, a leader in satellite technology and worldwide communications systems. Broadcast using Bell ExpressVu's high-powered Digital Video Broadcast (DVB) satellite and available to mobile users only through KVH, 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.

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.


SUPPLEMENTAL INFORMATION

KVH Mobile Broadband via TracNet and DirecPC is the Only
Mobile Solution to Provide True, High-speed Internet Access


Mobile Internet Download Typical Cost Time to Cost for
System Speed Per Minute Download 1 MB
(Kbps) 1MB (mins) Download

KVH TracNet 400 $0.79 0.3 $0.26

Inmarsat B HSD 64 $7.00 2 $14.58

Cellular Modem 14.4 $0.40 9 $3.70

Globalstar 9.6 $1.29 14 $17.92

Iridium 4.8 $1.50 28 $41.67

TMI/Motient 4.8 $1.19 28 $33.06

Inmarsat mini-M 2.4 $2.25 56 $125.00


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

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