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KVH announces Q2 financial results

  • Friday, 20 July 2007 | News

KVH Industries, which recently announced the launch of its new 'mini-VSAT' and an upgraded version of its satellite TV system, has reported its financial results for the second quarter ended June 30, 2007, showing a 6 per cent increase in revenues compared to Q2 2006. Revenues for the period were $23.2 million, with net income totalling $1.5 million.

Mobile communication revenue contributed $17.5 million of the total income, which marks a 4 per cent year-over-year increase.

"Within our mobile communications business, (the) launch of our TracPhone V7 satellite communications system and the mini-VSAT Broadband service, is one of the more important strategic announcements we've made in recent years," said Martin Kits van Heyningen, KVH's president and CEO.

"Our effort to bring broadband, affordable internet access to mariners has been a large and complex project that involved establishing new relationships with both ViaSat and satellite owner-operator SES AMERICOM."

"The recent introduction of our new TracVision M-series satellite TV systems helped drive our marine sales up 12 per cent over the same quarter last year."

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