Middletown-based KVH Industries, provider of high-bandwidth communications products, tactical navigation systems and fiber optic products, has reported its results for the fourth quarter ended December 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 December 31, 2000.
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
Learn More
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.
For the fiscal year ended December 31, 2001, revenue increased 9 percent to $32.7 million from $29.9 million in 2000. KVH reported a net loss of $6.3 million, or $0.61 per share for the year, versus a loss of $941,120 or $0.12 per share in the prior year.
KVH is webcasting its fourth quarter/year-end 2001 conference call live at 11:30 a.m.Eastern Time today through the company’s Web site. The conference call may be accessed at http://www.kvh.com/InvRelations/index.asp. The audio archive also will be available on the company Web site within three hours of the completion of the call.
