MIDDLETOWN, R.I. — KVH Industries, a developer of communication, navigation and fiber optic products, achieved profitability in the fourth quarter, reporting income of $76,531, or $0.01 per diluted share, compared to a loss of $1.2 million, or $0.17 per diluted share, during the same period a year ago.
Although it turned a profit for the quarter, the company reported a loss for the year 2000 — $941,120, or $0.12 per diluted share, compared to $2.7 million, or $0.37 per diluted share, in 1999.
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KVH said that revenue for the quarter grew 60 percent to $8.8 million, from $5.5 million for the same period a year ago. For the year 2000, the company reported a 32 percent increase in revenue, to some $30 million, compared to $22.8 million in 1999.
