KVH's Mobile Satellite & Internet Solutions Meeting Consumers' Growing Demand for Live Media in Cars, Boats, and RVs
MIDDLETOWN, R.I.--(BUSINESS WIRE)--Feb. 15, 2006--Reaffirming its position as the leading manufacturer of mobile satellite antenna systems for boats, cars, and RVs, KVH Industries, Inc., (Nasdaq: KVHI) announced today that it recently shipped its 100,000th antenna, setting a new milestone in the mobile satellite marketplace. At the same time, the company announced record annual mobile satellite revenue of $49 million, which contributed to KVH's record annual revenue of $71.3 million for fiscal year 2005.
"We are tremendously proud to have surpassed the 100,000 antenna milestone," said Martin Kits van Heyningen, KVH's president and chief executive officer. "In a culture that is placing a premium on mobility and instant access to information, KVH has set the pace in live mobile entertainment solutions for a decade, whether you are on land or at sea. Consumers on the move increasingly expect a widening array of entertainment and Internet options, especially as the number of aftermarket and factory-installed video screens in automobiles is exploding. KVH successfully meets these consumers' needs using innovative technology, connecting to premier services, collaborating with industry leaders like DIRECTV, Microsoft, Cadillac, and Inmarsat, and offering the highest quality products available."
Since it entered the mobile satellite marketplace, KVH's approach to offering mobile access to live media has always drawn upon a wide range of technology and services ranging from satellite TV and communications, Internet services, and broadband cellular services. The company's commitment to innovation and product excellence is reflected in a remarkable array of industry recognition, including the prestigious General Motors Innovative Design Award, CES Innovation Award, 21 National Marine Electronics Association "Best Product" awards, finalist for the Automotive News PACE Award, and multiple technology and design patents.
"The demand for mobile access to live media ranging from satellite TV to broadband Internet has steadily grown now that cars, boats, and RVs are increasingly seen as extensions of the home," continued Mr. Kits van Heyningen. "KVH satellite TV and Internet products leverage existing services and TV screens on boats and RVs as well as the 20 million video screens expected to be in cars by 2011. Worldwide, mariners trust KVH's award-winning family of TracPhone(R) global satellite communication and Internet systems. KVH, with a broad array of versatile, integrated hardware and service solutions, provides an unmatched suite of products to keep KVH customers connected wherever they go."
The company's award-winning TracVision(R) products employ sophisticated sensors, integrated receivers, and high-efficiency parabolic antenna designs to support satellite TV on boats, RVs, and trucks, while KVH's proprietary hybrid-phased array antenna and 5" high design are technological breakthroughs that made live satellite TV a reality in automobiles in 2003. Each of these fully stabilized systems identifies, locks onto, and tracks high-powered TV satellites orbiting 22,500 miles above the equator, even as the boat pitches in high seas and the car cruises down the highway.
High-speed, in-motion Internet access is the latest addition to KVH's suite of live mobile media services as KVH and Microsoft's MSN(R) TV group are working together to make MSN TV service and broadband Internet available in cars, boats, trucks and RVs traveling in and around the United States. The combination of the MSN TV service and KVH's expertise offers the first affordable in-motion product to consumers with easy-to-use, high-speed Internet access on the screens already in most vehicles. KVH's Mobile Internet Receiver with MSN TV service will also include Wi-Fi output to provide Internet connectivity to a wide range of Wi-Fi-enabled products.
However, the popularity of KVH's technology comes not simply from the technological leadership its products represent but from the company's ability to simplify these sophisticated systems into powerful, reliable, and affordable solutions ideal for consumers on the move.
"KVH remains the only company providing consumers with the fully integrated hardware solutions, together with an international network of dealers and distributors, needed to support the demands for mobile services in the marine, RV, and automotive markets," concluded Mr. Kits van Heyningen. "As we look toward the next 100,000 antennas, we're more committed than ever to finding innovative ways to connect people on the move to the live mobile media they prefer."
Complete details regarding KVH's mobile satellite product lines are available at http://www.tracvision.com and http://www.tracphone.com.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, the functionality, characteristics, quality and performance of KVH's products and technology; anticipated innovation and product development; and customer preferences, requirements and expectations. The actual results could differ. Factors that may cause such differences include, among others, our dependence on the availability of third-party satellites, which face significant operational risks and could fail earlier than their expected useful lives, for our mobile satellite communication services, as well as those discussed in KVH's most recent Form 10-Q filed with the SEC. KVH assumes no obligation to update its forward-looking statements to reflect new information or developments.
KVH, TracVision, and TracPhone are trademarks of KVH Industries, Inc. All other trademarks are the property of their respective companies.