KVH Industries reports Q3 EPS (6c) vs (23c) last year

Reports Q3 revenue $29M vs $33.2M last year. Commenting on the company’s third quarter results, Brent C. Bruun, KVH’s Chief Executive Officer, said, “KVH, together with the rest of the maritime industry, continues to adapt to significant technological disruptions. We continue to feel the impact of these changes, illustrated by the U.S. Coast Guard’s anticipated shift to LEO-based communication on its smaller cutters. However, we have reacted decisively to this fundamental shift by expanding our portfolio of new technology, delivering the products and services our customers desire, and making the decisions necessary to reconfigure our business operations. As a result, our hybrid LEO/GEO deployments are increasing, we are meeting the demands from leisure boaters and commercial fleets for LEO technology and sophisticated value-added services, and we are establishing a solid pipeline for ongoing growth in service activations.