KVH Awarded $3.2 Million Order for Fiber Optic Gyro-based Inertial Measurement Units
September 14 2005 - 6:30AM
Business Wire
KVH TG-6000 Inertial Measurement Unit Selected by Raytheon for U.S.
Navy MK54 Torpedo With Options, Contract has Potential Value of
$15.8 Million Over Four Years In a major milestone for the company,
KVH Industries, Inc., (Nasdaq: KVHI) today announced that it has
received a $3.2 million production order for its fiber optic gyro
(FOG)-based TG-6000 precision inertial measurement unit (IMU). The
order was placed by Raytheon Integrated Defense Systems (NYSE:
RTN), which selected the TG-6000 IMU following extensive
engineering and performance testing during 2004 and 2005. The
TG-6000 will serve as a key component within the guidance system of
the U.S. Navy's next-generation MK54 lightweight torpedoes.
Delivery of the TG-6000 IMUs ordered during this initial contract
will begin later in 2005 and continue through 2007. If three
follow-on options are exercised, the total order is potentially
valued at more than $15.8 million between 2005 and 2009. "The
TG-6000 IMU is the most technically advanced guidance product that
KVH has ever created and to have it selected for use in the MK54
torpedo is extraordinarily gratifying," remarked Martin Kits van
Heyningen, KVH's president and chief executive officer. "Raytheon's
selection of the TG-6000 IMU after a series of grueling
qualification tests is a major validation of our strategic decision
to apply our fiber optic technology for use in high-performance,
integrated systems for smart munitions and other applications. This
opportunity could also yield additional sales in the future to
foreign navies. With the TG-6000 IMU, we are now able to offer a
fully integrated precision navigation unit with potential
applications throughout the military and commercial marketplaces."
The KVH TG-6000 IMU measures rate and acceleration precisely in
three dimensions, critical for the navigation of a torpedo or other
smart munitions. The IMU employs a three-axis configuration of
KVH's FOGs, which offer an all-fiber design and patented Digital
Signal Processing (DSP) for high reliability, superior accuracy and
performance, and exceptional vibration, shock, and acceleration
survivability. In addition to the FOGs, the TG-6000 includes three
accelerometers. Together, the integrated IMU provides outstanding
performance, high reliability, low maintenance, and easy system
integration ideal for use in a wide range of applications,
including manned vehicle navigation and guidance systems for
autonomous aerial and underwater vehicles. The TG-6000 is also an
outstanding sensor suite for the most demanding stabilization and
pointing applications. The MK54 lightweight torpedo is the
next-generation Anti-Submarine Warfare (ASW) weapon. It is deployed
from surface ships, helicopters, and fixed-wing aircraft to track,
classify, and attack underwater targets. It is intended as the
replacement for the U.S. Navy's existing MK46 torpedo, which has
been in use since 1969 and is currently fielded by all U.S. Navy
surface and air ASW platforms as well as being in the inventory of
25 foreign navies. In 2004, Raytheon Integrated Defense Systems was
awarded a sole source contract from the U.S. Navy for the MK54
torpedo. Note to editors - High-resolution photos of the KVH
TG-6000 IMU and a representative torpedo are available at
http://www.kvh.com/mediasupport. For complete details on KVH's
complete line of fiber optic gyro products, please visit
http://www.fiberopticgyro.com. About Raytheon Integrated Defense
Systems Based in Tewksbury, MA, Integrated Defense Systems is
Raytheon's leader in mission systems integration. With a strong
international and domestic customer base, including the U.S.
Missile Defense Agency and the U.S. Armed Forces, Integrated
Defense Systems provides integrated air and missile defense and
naval and maritime warfighting solutions. About KVH Industries,
Inc. KVH Industries, Inc., designs and manufactures products that
enable mobile communication, navigation, and precision pointing
through the use of its proprietary mobile satellite antenna and
fiber optic technologies. The company is developing next-generation
systems with greater precision, durability, and versatility for
communications, navigation, and industrial applications. An ISO
9001-certified company, KVH has headquarters in Middletown, Rhode
Island, with a fiber optic and military navigation product
manufacturing facility in Tinley Park, Illinois, and a European
sales, marketing, and support office in Kokkedal, Denmark. This
release may contain certain forward-looking statements that involve
risks and uncertainties. Forward-looking statements include, for
example, the functionality, characteristics, quality and
performance of KVH's products and technology; anticipated
innovation and product development; and customer preferences,
requirements and expectations. The actual results could differ.
Factors that may cause such differences include, among others,
fluctuations in military procurement schedules, changes in
modernization plans for military equipment, and changing
operational priorities as well as those factors discussed in KVH's
most recent quarterly report on Form 10-Q filed with the SEC on
August 9, 2005. KVH assumes no obligation to update its
forward-looking statements to reflect new information or
developments.
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