MIDDLETOWN – KVH Industries, provider of high-bandwidth communications products, tactical navigation systems and fiber optic products, has reported its results for the fourth quarter ended Dec. 31, 2001. Revenue for the period was $8.8 million with a net loss of $1.2 million, or $0.11 per share. By comparison, KVH reported revenue of $8.8 million and a net profit of $76,531, or $0.01 per share for the fourth quarter ended Dec. 31, 2000.
Overall, the company’s commercial products recorded a 25 percent increase in revenue for the fourth quarter over the same period last year. However, these positive gains were offset by a 40 percent or $1.4 million decline in defense sales. The decline in profitability of $1.2 million for the quarter reflected KVH’s investment in its photonic fiber and mobile broadband initiatives.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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