Breakthrough In-motion Antenna and Live Satellite TV in Cars to be Offered through Tweeter & Affiliated Stores Nationwide
MIDDLETOWN, R.I.--(BUSINESS WIRE)--June 26, 2003--
Paving the way for the nationwide introduction of live satellite TV in cars, KVH Industries (Nasdaq: KVHI) announced today that Tweeter Home Entertainment Group has signed on as the first nationwide retailer for the new TracVision A5 satellite TV antenna. Tweeter will sell, install, and support the TracVision A5 through a retailer network comprised of 147 stores under the Tweeter, HiFi Buys and Sound Advice names in the New England, Texas, Southern California, Mid-Atlantic, Chicago, Southeast and Florida markets.
"Tweeter's agreement to sell and support the TracVision A5 establishes an instant, recognizable national retail presence for the TracVision A5," said Martin Kits van Heyningen, KVH's president and chief executive officer. "It is a pleasure to be working with one of the nation's premier specialty consumer electronics retailers to bring TracVision A5 and live satellite TV to mini-vans, SUVs, and passenger vehicles throughout the United States. We are looking forward to working with Tweeter to introduce this exciting new product to their customers."
TracVision A5 is a revolutionary low-profile satellite TV antenna designed specifically for passenger vehicles. It provides in-motion access to more than 300 channels of satellite TV and commercial-free music via virtually all in-vehicle passenger entertainment systems. The 5-inch high TracVision A5 uses KVH's revolutionary phased-array technology to create an antenna with a rugged, flat design suitable for the family SUV, mini-van, or car.
"Mobile video products have been the fastest growing segment of the mobile electronics business for the last three years," said Dan Jeancola, Tweeter's vice president of mobile electronics. "The TracVision A5 offers an entirely new level of versatility to these screens by providing vehicle passengers with premium satellite TV programming for their video systems. This is the type of quality, groundbreaking technology that Tweeter customers have come to expect from us. We're pleased to be working with KVH to offer it nationwide."
TracVision A5 will be available in all Tweeter Car Stereo Center locations, which offer a range of products from such leading manufacturers as Alpine, Audiovox, Eclipse, JL Audio, Kenwood, Kicker and Pioneer. All Tweeter locations with mobile electronics departments are staffed by certified Mobile Electronic Technicians and feature fully equipped installation bays and woodworking facilities.
Tweeter Home Entertainment Group, Inc. (Nasdaq: TWTR) was founded in 1972. Based in Canton, Massachusetts, the company is a specialty retailer of mid- to high-end audio and video consumer electronics products. The company's fiscal 2002 revenues were $796 million. Tweeter was named "Consumer Electronics Retailer of the Year" four out of the past seven years by Audio-Video International, "1999 Retail Leader" by TWICE, and awarded Dealerscope's 1999 Dealer's Pride award.
KVH Industries, Inc., designs and manufactures products that enable mobile communication, navigation, and precision pointing through the use of its proprietary mobile satellite antenna and fiber optic technologies. The company is developing next-generation systems with greater precision, durability, and versatility for communications, navigation, and industrial applications. An ISO 9001-registered company, KVH has headquarters in Middletown, Rhode Island, with a fiber optic manufacturing facility in Tinley Park, Illinois, and a European sales, marketing, and support office in Hoersholm, Denmark.
This press release contains certain forward-looking statements that involve risks and uncertainties. For example, the statements regarding the company's financial and product development goals for 2003 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: lack of reliable vendors, service providers, and outside products; unforeseen changes in competing technologies and products; worldwide economic variances; and poor or delayed research and development results. Additional factors are discussed in the company's 2002 Form 10-K filed with the Securities and Exchange Commission on March 26, 2003. Copies are available through the company's Investor Relations department and web site, www.kvh.com. KVH assumes no obligation to update its forward-looking statements to reflect new information and developments.