New shipments of KVH's precision DSP-3100 FOGs for stabilization of vehicle-mounted remote weapons expected to be completed by end of first quarter 2010
MIDDLETOWN, R.I., Oct. 30 -- KVH Industries, Inc., (Nasdaq: KVHI) announced today that it has received new orders totaling $10.2 million for its precision fiber optic gyros (FOGs) for use in remote stabilized weapon stations (RWS) from two major defense contractors. Shipment of these orders is expected to be completed before the end of the first quarter of 2010.
"We are very proud of our continued participation in remote weapon station programs around the globe, as they increase warfighter safety, efficiency, and effectiveness," commented Jay Napoli, KVH's vice president of FOG and OEM sales. "As a fully integrated manufacturer of precision, affordable fiber optic gyros, we are uniquely equipped to meet the stringent performance demands as well as the accelerating production requirements to support the expanding RWS industry."
Remote weapon stations allow gunners to operate, aim, and fire the weapon from inside the safety of their vehicles, taking the gunners out of turret positions where they are exposed to hostile fire. KVH's DSP-3100 FOGs provide precise optical stabilization and weapon recoil control for RWS units while ensuring that the weapon stays on target whether the vehicle is stationary or on the move.
KVH's fiber optic guidance and sensor systems are used in an array of commercial and defense-related stabilization, navigation, autonomous vehicle, and precision guidance applications.
KVH's fiber optic gyro resource page - http://www.fiberopticgyro.com - offers additional details regarding KVH's fiber optic gyro solutions.
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, and Kokkedal, Denmark.
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, delays in customers' qualification processes for our products or other delays in shipping, 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.
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