MIDDLETOWN – KVH Industries Inc. lost $5.7 million in the second quarter of 2021, or 31 cents per diluted share, the company said Friday.
One year prior, KVH reported a $3.6 million loss, or 20 cents per diluted share.
Company revenue totaled 43.4 million, a rise from $36.9 million one year prior.
KVH designs and manufactures mobile connectivity products and provides services for marine and land mobile uses.
“KVH recorded another strong quarter, reflecting our success in implementing our strategic priorities,” stated company CEO Martin Kits van Heyningen. “We achieved record mini-VSAT Broadband shipments for the third consecutive quarter, driven largely by new AgilePlans subscriptions. While AgilePlans shipments do not immediately show up in revenue, they drive future top-line growth and are an important indicator of the robust health of our mobile connectivity business.”
The company’s product segment reported a revenue of $17.3 million for the quarter, a rise from $13.9 million one year prior.
The company’s service segment revenue totaled $26.1 million, a rise from $23 million one year prior.
