Saturday, May 15, 2010
KVH Receives $2 Million Order for TACNAV II Military Navigation Systems
14 May 2010, MIDDLETOWN, R.I., -- KVH Industries, Inc., (Nasdaq: KVHI) announced today that it has received a $2 million order for its TACNAV(R) II tactical navigation system for use by an international customer. Shipment of this order is expected to begin in the second quarter of 2011 and conclude in early 2014.
"KVH's TACNAV II tactical navigation system is an important tool for navigation and coordination of vehicles operating in critical military situations," explains Dan Conway, KVH's vice president of business development. "The system is crucial to keeping soldiers safe and out of harm's way, serving as a resource for navigation, battle management, and even as a backup to GPS. This order reaffirms the value of KVH's TACNAV products in the international market, and adds to our steady foundation of revenue for the coming years."
The TACNAV II tactical navigation system is an easy-to-integrate, affordable solution for battle management and weapon systems. Ideal for virtually any platform, the system offers a compact design, continuous heading and pointing data output, and a flexible architecture that allows it to function as either a standalone navigation module or as the heart of an expanded, multifunctional TACNAV system. With its precision fiber optic gyro (FOG) and an optional compass sensor providing a complete backup to GPS, the TACNAV II can integrate with a host of applications, including navigation and data consolidation for Battle Management Systems (BMS).
About KVH Industries, Inc.
KVH Industries is a leading manufacturer of solutions that provide global high-speed Internet, television and voice services via satellite to mobile users at sea, on land, and in the air. KVH is also a premier manufacturer of high performance sensors and integrated inertial systems for defense and commercial guidance and stabilization applications. The company is based in Middletown, RI, with facilities in Tinley Park, IL, Kokkedal, Denmark, and Singapore.
This press release may contain certain forward-looking statements that involve risks and uncertainties. For example, the statements regarding the company's financial and product development goals for 2010 and beyond are forward-looking statements. 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: uneven military sales cycles; unforeseen changes in competing technologies and products; and worldwide economic variances. Additional factors are discussed in the company's most recent Form 10-Q filed with the SEC. Copies are available through the company's Investor Relations department and website, www.kvh.com. KVH does not assume any obligation to update its forward-looking statements to reflect new information or developments.