TACNAV Order From Major International Contractor Reaffirms KVH's Leadership Position in Fielding Battle-Proven, High-Performance Navigational Systems
MIDDLETOWN, R.I., Jul 26, 2010 - KVH Industries, Inc. (Nasdaq:KVHI) announced today that it has received a $13 million order from a major international contractor for its TACNAV® military vehicle navigation systems. Deliveries of the TACNAV systems are expected to begin in the fourth quarter of 2010 and continue into 2012. Due to confidentiality and contractual restrictions, details about the customer and vehicle platform cannot be disclosed at this time.
"KVH's TACNAV tactical navigation system is an important tool for navigation and coordination of vehicles operating in critical military situations," explains Dan Conway, KVH's vice president of business development. "The system is a crucial resource for navigation, battle management, situational awareness, and as a backup to GPS when GPS performance is degraded, blocked, or jammed. This is the largest TACNAV order in KVH history, reaffirming the value of our TACNAV products in international military markets. It is also a great addition to our foundation of defense-related revenue for the coming years."
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 source of heading and position for situational awareness.
TACNAV systems are currently in use on U.S. and allied vehicles participating in ongoing operations in Afghanistan, 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.
Learn more about about KVH's tactical navigation products.
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, Kokkedal, Denmark, and Singapore.
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 materially. Factors that may cause such differences include, among others, 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.