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Technology Stocks : KVH Industries, Inc. -- Ignore unavailable to you. Want to Upgrade?


To: Roy F who wrote (1133)4/25/2002 7:46:03 AM
From: Sector Investor  Respond to of 6936
 
Tabular data in fixed font format:

KVH INDUSTRIES, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
MARCH 31, 2002 and DECEMBER 31, 2001


March 31, 2002 December 31, 2001
(Unaudited) (Audited)


Assets:
Current assets:
Cash and cash equivalents $9,073,634 11,240,893

Accounts receivable, net 6,971,414 6,026,689

Costs and estimated earnings in excess
of billings on uncompleted contracts 395,092 482,486
Inventories 5,126,771 4,124,203

Prepaid expenses and other deposits 425,868 406,866

Deferred income taxes 603,299 637,799


Total current assets 22,596,078 22,918,936


Property and equipment, net 7,566,370 7,431,287

Other assets, less accumulated amortization 540,693 573,849

Deferred income taxes 2,238,430 2,238,430


Total assets $32,941,571 33,162,502


Liabilities and stockholders' equity:
Current liabilities:
Current portion long-term debt $86,974 86,974

Accounts payable 3,214,322 2,084,507

Accrued expenses 1,177,421 1,143,790

Customer deposits 587,165 903,853


Total current liabilities 5,065,882 4,219,124


Long-term debt 2,676,576 2,697,147


Total liabilities 7,742,458 6,916,271


Stockholders' equity:
Common stock 109,874 109,612

Additional paid-in capital 34,576,992 34,478,002

Accumulated deficit (9,487,753) (8,341,383)

Total stockholders' equity 25,199,113 26,246,231


Total liabilities and stockholders' equity $32,941,571 33,162,502


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

Three months ended
March 31,
2002 2001

Net sales $9,641,513 8,132,671
Cost of sales 5,357,407 5,009,173
Gross profit 4,284,106 3,123,498

Operating expenses:
Research and development 2,333,699 1,744,205
Sales and marketing 2,318,264 2,248,332
General and administrative 719,340 638,251

Loss from operations (1,087,197) (1,507,290)
Other expense:
Other expense 2,024 22,335

Interest expense, net 22,649 7,741

Loss before income taxes (1,111,870) (1,537,366)
Income taxes 34,500 --

Net loss $(1,146,370) (1,537,366)

Per share information:

Loss per share:
Basic $(0.10) (0.18)
Diluted $(0.10) (0.18)

Number of shares used in per share calculation:
Basic 10,973,616 8,626,470
Diluted 10,973,616 8,626,470



To: Roy F who wrote (1133)4/25/2002 8:07:24 AM
From: robert b furman  Read Replies (1) | Respond to of 6936
 
Hi Roy - one has to get up early to beat your post's - as usual thanks for your reliability.

If next quarter is a repeat and we can add 500,000 of delayed military shipments (guessing at a margin of 50%) we'll add 250,000 additional gross to the 1,100,000 short fall.

Next big question is if R&D can be reduced or if DSP 5000 gyros can contribute in Q2?

I would guess the margins on the "military gyros-DSP 5000) are the richest of margins and most desirable if they provide a fraction of the cost to their counterparts.

I wonder how long it takes to get worked into the military procurement/specs? Sounds like a bureacracy - but I bet with the savings involved - an expedite process exists??

I still think KVH could surprise with a "breakeven" or "in the black" a quarter early Q2.

What I really want is one of those flat satellite antennaes for my Yukon.I'll have to wait for H2 02.I guess its a lot like owning KVHI - you just have to be patient.

It sure is nice to see KVHI trading in the 8's.We got there in much more solid route this time vs last quarter's up 1.75 in one day.

All in All - not many companies saying their sales are up 18% and projecting a 30-40% annual growth rate.

Now to the most important achievement - GETTING IN THE BLACK.When that happens - we'll be in the teens.Many stocks with good revenue growth don't stay in the teens very long.gg

Looking good and things are getting very exciting.

Bob

In the past R&D equalled the loss.This quarter R&D incresed 500,000 and was over twice the loss.In short - reduce R&D and we're in the black vs breakeven in the past.

This really is a good story.The R&D is definately beginning to drive sales and revenue.With this trend established and margins as high as they are - IN THE BLACK is definately in the screen.

See you at the telecast.gg


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