Technology StocksKVH Industries, Inc.

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To: robert b furman who wrote (283)10/6/1999 4:07:00 PM
From: Roy F
   of 7024
Camping World Selects TracVision LM For1999 Best New Product Award

October 6, 1999 03:50 PM
MIDDLETOWN, R.I.--(BUSINESS WIRE)--Oct. 6, 1999--Camping World, the world's largest retailer of recreational vehicle (RV) accessories and supplies, has chosen the TracVision(R) LM from KVH Industries, Inc. KVHI as the first in-motion satellite television system to be offered through its catalog and stores. At its recent Vendor Co-op Meeting in Bowling Green, Kentucky, Camping World also named TracVision LM Best New Installation Product for 1999.

"It is an honor to be recognized in two major ways by a company with Camping World's presence in the RV industry, especially since this is a totally new market for us," said Martin Kits van Heyningen, KVH president and CEO. "We already are experiencing increased visibility for TracVision LM since Camping World included the system in a catalog mailing to its database of over 2 million people and after we began placing displays in their 30 retail stores. To be selected Best New Installation Product by Camping World is an added distinction for TracVision LM."

TracVision LM is a low-cost system that delivers direct broadcast satellite (DBS) programming to a range of recreational and other vehicles travelling the roads of North America. Drivers and passengers can receive hundreds of TV and music channels from DIRECTV(R) and the DISH(tm) Network whether a vehicle is on the road or at rest. KVH also expects to add broadcast Internet access in the near future for real-time news, stock market data and weather information.

"Reliability and price were our key criteria in evaluating and selecting TracVision LM," said Merchandise Manager Ron Ray of Camping World. "TracVision LM is the first in-motion system to meet our standards for quality and affordability, and initial sales indicate our customers consider this a highly desirable product. Our Best New Product Award to KVH recognized both the fine execution of a promising product idea and the introduction to our market of a high-quality system with exceptional support and on-time deliveries."

TracVision LM is an effective, reliable and affordable system that maintains satellite contact in mobile environments by sensing vehicle motion and automatically adjusting the antenna position. Prior to the development of TracVision LM, the most affordable and commonly used options for recreational vehicles and motor coaches in the United States were self-acquiring or crank-up units that could only receive satellite television when a vehicle was still.

The proprietary sensor and software technologies KVH has incorporated into TracVision LM function automatically to acquire satellite contact, maintain pointing with 1(Degree) accuracy and actively track satellite signals at rates exceeding 30(Degree) per second. To meet the challenge of delivering cost-effective, stable, in-motion satellite reception for land vehicles, KVH built upon its experience in designing stabilized television and telephone systems for the marine industry, where the company is a world leader.

TracVision LM is the smallest in-motion land system available and retails for $2,995 (not including TVs, receivers or installation). The system weighs about 33 pounds with all components inside a flush-mount antenna dome that can be easily installed in approximately two hours on vehicles pre-wired with power and RF cables. Nationwide service is available through an established support network. The market KVH is targeting with TracVision LM includes 8.6 million RVs. In addition, owners of 1.7 million trucks, 100,000 private buses, and millions of SUVs, vans and mini-vans are potential TracVision LM customers.

Camping World established its Vendor Co-op program in 1989 to build relationships with vendors and channel resources. KVH is working with Camping World to train its salespeople, technicians and catalog call center representatives on TracVision LM features and installation procedures. The two companies also are coordinating retail and catalog marketing efforts.

Camping World's headquarters is in Bowling Green, Kentucky, and the company has annual sales of over $200 million. The company has been providing RV products and services since 1966, and it now offers a variety of benefits ranging from product discounts through the President's Club to low-cost insurance, a service plan, and emergency roadside assistance. To contact Camping World, call 800-838-1923 or visit its website at

KVH Industries, Inc. manufactures and markets digital navigation systems and mobile satellite communication products for use in commercial, military, and marine applications. The company's headquarters are in Middletown, RI, and additional offices are located in Hoersholm, Denmark, Tinley Park, Illinois, and St. Petersburg, Florida.

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To: robert b furman who wrote (283)10/7/1999 1:28:00 PM
From: Roy F
   of 7024

What did you find out about the earnings? There's a little volume so far today and it appears to be mostly buys. Nothing spectacular, but it could be a start... :)


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To: Roy F who wrote (286)10/7/1999 5:29:00 PM
From: robert b furman
   of 7024
Hi Roy,

Haven't called yet.Been chasing my tail at work today - try to call Alice tomorrow.Sure looks like this Nav Trac LM is beginning to work. What do you think about a stockholder evaluation program. I like the idea of satellite real time quotes in my pickup. HEHEHE!!!

I'll give you a shout after my call, thanks for the post


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To: robert b furman who wrote (287)10/7/1999 5:33:00 PM
From: Roy F
   of 7024

stockholder evaluation program

Hopefully the sale of a minute amount of stock will allow you to purchase one in the not too distant..


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To: robert b furman who wrote (287)10/20/1999 8:03:00 AM
From: Roy F
   of 7024
Bob, FYI, CC link



Ps: Hi Alice -g-

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To: david james who wrote ()10/20/1999 2:20:00 PM
From: Roy F
   of 7024
Slightly dated, but I hadn't seen this PR...

Tuesday October 12, 1:11 pm Eastern Time

Company Press Release

Third NATO Power Selects KVH TACNAV

MIDDLETOWN, R.I.--(BUSINESS WIRE)--Oct. 12, 1999--In a move to equip its armored vehicles for the upcoming requirements of the digital battlefield, the United Kingdom (U.K.) Army has ordered its first supply of TACNAV(TM) systems from KVH Industries, Inc. (NASDAQ:KVHI - news). The initial order, valued at nearly $500,000, will be installed on vehicles that the U.K. is using in Europe. The U.K. joins Sweden and NATO members Canada and the U.S. in using TACNAV systems for targeting and positional applications in military fleets.

A digital battlefield capability, which is being developed by several NATO members, requires constant awareness of the precise positions of both friendly and adversarial troops. With that knowledge, commanders can accurately pinpoint and direct fire at targets without endangering their own troops. Unlike other military forces that use only Global Positioning System (GPS) data for position information, U.K. Army units with TACNAV systems will not be susceptible to data losses if terrestrial interference or hostile activity causes GPS signal interruptions.

TACNAV systems integrate with a vehicle's GPS to ensure that positional awareness and knowledge of far target location is 100 percent available to force commanders. The U.K. Armored Trials and Development Unit carried out a lengthy assessment of the KVH TACNAV system as part of a wider Digitization Awareness Program.

''This order represents the first deployed use of TACNAV systems by the U.K., and it is an honor to have our system selected for this important military upgrade,'' said Martin Kits van Heyningen, president and CEO. ''We believe that our systems will once again demonstrate their ability to enhance military efforts, as they did for U.S. troops in Operation Desert Storm.''

TACNAV is a digital compass-based tactical navigation system designed to bring together all of the data needed by an armored vehicle crew. Information from each of the vehicle's sensors, including the GPS, laser rangefinder, turret angle encoder and odometer, plus the precise heading data, is clearly presented in bold graphics on driver's and commander's displays. In addition, TACNAV integrates data from the vehicle's odometer and heading sensor to generate accurate dead reckoning data should the GPS fail. As a result, crews are ensured complete availability of essential data that can help military forces maintain viability on today's highly technical battlefields.

In the U.S., TACNAV systems are widely used by the Army and Army National Guard. In addition, the U.S. Marine Corps selected the company's TACNAV Light navigation system for a rebuild of its fleet of AAV 7s (amphibious assault vehicles). TACNAV Light systems provide precise tactical navigation capabilities on military vehicles that don't require the turret pointing features of TACNAV systems for heavy armored units.

TACNAV systems also were selected for impending advanced tests of the digital battlefield system as a key component in the U.S. Army's Task Force XXI Battle Command Brigade and Below (FBCB2) program. The Task Force XXI program will provide battlefield commanders comprehensive, real-time digital information, electronic coordination, and situational awareness through an integrated tactical computer system. For the project to succeed, it is critical that the Army computer and communications systems know at all times the exact location of each military vehicle in a battlefield arena. An integrated TACNAV system provides the essential backup to GPS and assures 100 percent position availability. TACNAV is being tested and evaluated for possible implementation in the U.S. Army's digital battlefield management system.

KVH uses its proprietary autocalibration, sensor and fiber optic technologies to develop and market a range of products, from mobile satellite communications systems for land and sea to navigation systems for military and commercial applications. The company has its headquarters in Middletown, RI, and additional offices in Illinois, Florida and Denmark.


KVH Industries, Inc.
Alice Andrews

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To: Roy F who wrote (290)10/21/1999 8:00:00 AM
From: Roy F
   of 7024
KVH Announces 3Q 1999 Financial Results

October 21, 1999 07:02 AM
MIDDLETOWN, R.I.--(BUSINESS WIRE)--Oct. 21, 1999--KVH Industries, Inc. KVHI today announced financial results for the third quarter ending September 30, 1999. Revenues for the 1999 third quarter were $4.8 million, a 9% decline from $5.3 million in the comparable 1998 quarter. Gross margin declined to $1.5 million or 31% of sales in 1999 from $2.2 million or 41% of sales in 1998.

Operating expenses increased in the 1999 third quarter to $3.0 million and resulted in an operating loss of $1.6 million. This compares to operating expenses of $2.2 million and an operating loss of $61,000 in the same 1998 quarter. The company's net loss for the quarter was $1.0 million or $.14 a share compared to a profit of $258,000 or $.04 a share in 1998.

"I was pleased during the third quarter by a 104-percent growth in communications sales, led by significant orders for our land mobile satellite television system," said Martin Kits van Heyningen, president and CEO. "We also achieved a 67 percent increase in communications sales year-to-date and a 9 percent increase in total revenues for the year. For our navigation product lines, KVH has been selected to provide tactical systems for a range of military programs and has a number of fiber optic gyro (FOG) OEM orders in the pipeline. Also, I am pleased to announce that shortly after the end of our third quarter we received our first order for tactical navigation systems enhanced with our fiber optic gyro. Our investments in new development and marketing outreach are producing results, and we believe KVH is well positioned for growth with expectations of continued success for our mobile satellite systems and increased navigation product sales."

Revenues for the 1999 nine months increased to $17.3 million from $15.9 million in the 1998 period. Gross profit increased to $5.9 million from $5.7 million in 1998. Nine-month operating expenses were $8.4 million in 1999 compared to $7.8 million in 1998. The net loss of $1.5 million or $.21 a share for the 1999 year to date compares to a net loss of $886,000 or $.12 a share for the 1998 period.

"We have been experiencing a shift in product mix throughout 1999 with communications sales growing and a softness in high-margin military and FOG sales," said Kits van Heyningen. "Communications growth during the quarter was attributable primarily to our land mobile satellite television system, which has exceeded expectations since it was introduced. The land mobile system brought us additional recognition recently when it was named Best New Installation Product for 1999 by Camping World. A decline in navigation revenues that strongly affected our product mix during the quarter was due to unforeseen delays in finalizing contracts, both on military projects for which we have been selected and on FOG sales that are under negotiation. However, we expect these orders to ship during 2000."

KVH Industries utilizes its proprietary fiber optic, autocalibration and sensor technologies to produce navigation and mobile satellite communications systems for commercial, military and marine applications. The company has headquarters in Middletown, RI, (USA) with offices in Illinois, Florida and 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: volatility and uncertainties in communications and defense, the primary two industries targeted by the Company; 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; poor or delayed research and development results; and disparities between forecast and realized sales. Additional factors are discussed in the company's Annual Report on Form 10K filed with the Securities and Exchange Commission on March 24, 1999. Copies are available from the company's Corporate Communications Department.

KVH Industries, Inc. and Subsidiary
Consolidated Statements of Operations

Three months ended Nine months ended
September 30, September 30,
1999 1998 1999 1998

Net sales $4,781,389 5,307,323 17,280,203 15,906,164
Cost of sales 3,295,606 3,142,975 11,349,188 10,221,027
Gross profit 1,485,783 2,164,348 5,931,015 5,685,137

Operating expenses:

& development 1,158,263 908,266 3,068,103 2,941,186
& marketing 1,389,290 883,193 3,783,490 3,158,416
Administration 524,340 433,999 1,576,299 1,697,951
Total operating
expense 3,071,893 2,225,458 8,427,892 7,797,553

Loss from
operations (1,586,110) (61,110) (2,496,877) (2,112,416)

Other income 6,017 27,906 53,672 230,038

Loss before
income taxes (1,580,093) (33,204) (2,443,205) (1,882,378)

Income tax
benefit 538,509 291,293 948,884 996,466

Net (loss)
income $(1,041,584) 258,089 (1,494,321) (885,912)

Per share information:

Loss (income)
per share -basic $(0.14) 0.04 (0.21) (0.12)
Loss (income)
per share -diluted $(0.14) 0.04 (0.21) (0.12)

Shares - basic 7,262,510 7,143,916 7,223,215 7,113,545
Shares - diluted 7,262,510 7,304,790 7,223,215 7,113,545

KVH Industries, Inc. and Subsidiary
Consolidated Balance Sheets

September 30, December 31,
1999 1998
(Unaudited) (Audited)


Current assets:

Cash and cash equivalents $ 3,276,345 1,239,227
Accounts receivable, net 3,357,046 4,168,908
Costs and estimated
earnings in excess of
billings on uncompleted contracts 690,766 768,156
Inventories 3,643,286 3,390,787
Prepaid expenses
and other deposits 347,073 360,346
Deferred income taxes 382,905 234,158
Total current assets 11,697,421 10,161,582
Property and equipment, net 7,489,025 7,186,539
Other assets, less
accumulated amortization 870,571 972,365
Deferred income taxes 1,227,091 425,150

Total assets $21,284,109 18,745,636

Liabilities and
stockholders' equity:

Current liabilities:
Current portion long term debt $71,368 --
Accounts payable 1,892,416 853,238
Accrued expenses 793,521 822,533
Total current liabilities 2,757,305 1,675,771

Long term debt 2,887,244 --

Total liabilities 5,644,549 1,675,771

Stockholders' equity:
Common stock 72,628 72,059
Additional paid-in capital 15,502,868 15,439,421
Retained earnings 64,064 1,558,385
Total stockholders'
equity 15,639,560 17,069,865
Total liabilities and
stockholders' equity $21,284,109 18,745,636

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To: robert b furman who wrote (287)10/21/1999 3:41:00 PM
From: Roy F
   of 7024
Hi Bob,

Haven't listened to the CC yet, but it seems there is considerable interest in KVH today. After reading the earnings release, I'm guessing the prospects are improving going forward. I'll give a listen tomorrow a.m.



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To: Roy F who wrote (292)10/24/1999 4:07:00 PM
From: Roy F
   of 7024
CC was interesting, although the quality of the transmission left a lot to be desired.. but that could have been my machine. From what I could glean, they've found a new application for the FOG gyro in the high voltage sensor market. Apparently it's being tested in some European power plants.. it replaces a truck-sized piece of equipment with something the size of a glass coaster. $1B market and with the electric power industry deregulating, could be lucrative. No apparent R & D expense, just a bonus that the magnetic sensors work with the high voltage, too.

I'm going to have to get an e-mail off to Alice to see if I understood what was echoed on the CC recording.. -G-


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To: Roy F who wrote (293)10/25/1999 3:04:00 PM
From: Roy F
   of 7024
Response from Alice Andrews at KVH IR:

In answer to your question about the electrical power industry, yes, we see
real opportunity here. This is a major new (and unexpected) sensor market
has opened up after two years working with a customer to develop a fiber
current sensor. During the past year, we have been testing this technology
key installations in Europe with a KVH unit the size of a drink coaster
replacing a 100 kilovolt current transformer the size of a truck. This is a
breakthrough technology that not only saves the power industry money but
improves performance as our fiber optic sensor is able to respond instantly
changes in current resulting from spikes or lightning strikes. In addition
savings for initial equipment purchase and eliminating repair costs due to
caused by overloads, there are inherent safety benefits since the fiber
cable does not conduct electricity, even at super high voltages.

The annual market for high voltage current sensors is estimated at
$1 billion per year, and with recent U.S. deregulation an increase in demand
high voltage power metering is expected. KVH is pursuing a key partnership
a major industry player and hopes to have a working relationship established
the near future.

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