MIDDLETOWN, R.I.--(BUSINESS WIRE)--June 6, 2007--KVH Industries,
Inc., (Nasdaq: KVHI) announced today that it has received a new
contract from a southeast Asian customer for the purchase of KVH's
TACNAV(R) II fiber optic gyro (FOG)-based vehicle navigation systems
and displays. The contract has a total value of approximately $2.3
million with shipments starting in 2007 and extending through 2010.
Commenting on the new contract, Dan Conway, KVH's vice president
of business development, said, "Thanks to its integrated KVH fiber
optic gyros, our TACNAV II system offers vehicle crews and combat
commanders a powerful tool for unjammable navigation as well as full
integration with the increasingly robust digital battlefield. This new
order and the more than $20 million in additional military navigation
orders that we have received since the start of 2007 illustrate the
continuing demand for our military vehicle navigation systems in the
international and domestic markets. While most of these orders will
have limited financial impact in the immediate term due to their
out-year delivery schedules, they are helping us build a very strong,
multi-year foundation for our military navigation business."
KVH's TACNAV II is a FOG-based tactical navigation system for
vehicles that combines GPS position data with inputs from its fiber
optic gyro, optional digital compass, and the vehicle's odometer to
provide unjammable, precision navigation, heading, and pointing data
for vehicle drivers, crews, and commanders. TACNAV II also offers a
link between each vehicle and the customer's Battle Management System
(BMS), making each unit a node in a secure military network that
consolidates a wide range of tactical data to provide detailed
information to individual units and military commanders.
Due to contractual restrictions, additional details regarding the
customer and vehicle platform cannot be disclosed at this time.
TACNAV systems are currently in use on U.S. and allied vehicles
participating in ongoing operations in Iraq and elsewhere. Military
forces fielding TACNAV include the U.S. Army, Marine Corps, and Navy
as well as many allied customers, among them Canada, France, Sweden,
Great Britain, Germany, Spain, Australia, New Zealand, Saudi Arabia,
Taiwan, Malaysia, Switzerland, and Italy.
Visit http://www.tacnav.com for complete details regarding KVH's
defense navigation and guidance products.
About KVH Industries, Inc.
KVH Industries, Inc., is a premier manufacturer of systems to
provide access to live mobile media ranging from satellite TV to
telephone and high-speed Internet for vehicles and vessels as well as
a leading source of navigation, pointing, and guidance solutions for
maritime, defense, and commercial applications. The company's products
are based on its proprietary mobile satellite antenna and fiber optic
technologies. An ISO 9001-certified company, KVH is based in
Middletown, Rhode Island.
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; and customer
preferences, requirements and expectations. The actual results could
differ materially. Factors that may cause such differences include,
among others, uneven military sales cycles, changes in military
fielding and equipment requirements, and changes in international
situations, as well as those discussed in KVH's most recent Form 10-Q
filed with the SEC. KVH does not assume any obligation to update its
forward-looking statements to reflect new information or developments.
KVH and TACNAV are registered trademarks of KVH Industries, Inc.
All other trademarks are the property of their respective companies.