New order from southeast Asian customer adds to KVH's multi-year, multi-million dollar backlog for TACNAV systems and components
MIDDLETOWN, R.I., Sept. 17 -- 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® military vehicle navigation systems and displays. The contract has a total value of approximately $1.3 million with shipments starting in late 2008 and extending into early 2009.
"This new order reaffirms the international interest in and the versatility of our TACNAV systems when used by U.S. and allied warfighters. TACNAV systems support applications in a wide range of demanding military environments, including vehicle navigation and integration with digital battlefield management systems. This order also builds upon our existing multi-year backlog of TACNAV orders and illustrates the continuing value of this product line to KVH," explained Dan Conway, vice president of business development for KVH Industries.
KVH's TACNAV military vehicle navigation systems provide unjammable, precision navigation, heading, and pointing data for vehicle drivers, crews, and commanders. TACNAV can also serve as a link between each vehicle and the overall digital battlefield, 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.
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 and Marine Corps, as well as many allied customers, among them Canada, 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.