MIDDLETOWN, R.I., April 05, 2017 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq:KVHI), announced today that it has received a $3.5 million order for its TACNAV® tactical navigation systems for use by an international military customer. Revenue from this order is expected to begin in the third quarter of 2017 and conclude in 2018.
“KVH’s TACNAV tactical navigation solution provides precision navigation as well as coordination of military vehicles in critical situations,” says Dan Conway, executive vice president of KVH’s inertial navigation group. “The system serves as a crucial resource for navigation and battle management, and as a backup in GPS-denied environments, keeping soldiers safe and out of harm’s way wherever they travel. This new order reaffirms the value of KVH’s TACNAV products for international militaries, and adds to our backlog.”
KVH’s TACNAV military vehicle navigation systems provide unjammable precision navigation, heading, and pointing data for vehicle drivers, crews, and commanders. TACNAV also serves as a heading and position source for situational awareness. The fiber optic gyro-based TACNAV system ordered today is designed to improve dead-reckoning and target-location accuracy.
TACNAV systems are currently in use by the U.S. Army and Marine Corps, as well as many allied customers including Canada, Sweden, Great Britain, France, Germany, Spain, Egypt, Botswana, Australia, New Zealand, Saudi Arabia, Taiwan, Romania, Poland, Turkey, Malaysia, Switzerland, South Korea, Singapore, Brazil, and Italy.
Note to Editors: For more information about KVH’s TACNAV products, please visit kvh.com/TACNAV. High-resolution images of KVH products are available at the KVH Press Room Image Library, www.kvh.com/press-room/image-library.
About KVH Industries, Inc.
KVH Industries, Inc. is a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial guidance and stabilization applications, having sold more than 19,000 TACNAV systems and more than 100,000 fiber optic gyros. KVH is also a leading provider of solutions that bring global high-speed Internet, television, voice services, and content via satellite to mobile users at sea, on land, and in the air. KVH is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL. The company’s global presence includes offices in Belgium, Brazil, Cyprus, Denmark, Hong Kong, India, Japan, the Netherlands, Norway, the Philippines, Singapore, and the United Kingdom.
This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding our financial goals for future periods, our anticipated revenue and the impact of our future initiatives on revenue, competitive positioning, profitability, and product orders. Actual results could differ materially from the forward-looking statements made in this press release. Factors that might cause these differences include, but are not limited to: delays in the receipt of anticipated orders for our products and services, including significant orders for TACNAV products, or the potential failure of such orders to occur at all, continued substantial fluctuations in military sales, including to foreign customers; the unpredictability of defense budget priorities as well as the order timing, purchasing schedules, and priorities for defense products, including possible order cancellations; the uncertain impact of potential budget cuts by government customers; export restrictions, delays in procuring export licenses, and other international risks. These and other factors are discussed in more detail in KVH’s most recent Form 10-K filed with the SEC on March 9, 2017. Copies are available through its Investor Relations department and website, http://investors.kvh.com. KVH does not assume any obligation to update its forward-looking statements to reflect new information and developments.
KVH and TACNAV are registered trademarks of KVH Industries, Inc.
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Media Relations & Industry Analyst Manager
KVH Industries, Inc.
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KVH Industries, Inc.