KVH Receives $6 Million Contract for Military Navigation Systems from European Customer
April 17 2007 - 6:30AM
Business Wire
KVH Industries, Inc., (Nasdaq: KVHI) announced today that it has
received a new contract from a European defense contractor for the
purchase of KVH�s TACNAV� II fiber optic gyro (FOG)-based vehicle
navigation systems and displays for use on new infantry fighting
vehicles. If all options are exercised, the contract will have a
total value of more than $6 million with shipments starting in 2007
and extending through 2014. Commenting on the new contract, Dan
Conway, KVH�s vice president of business development, said, �Thanks
to its integrated KVH fiber optic gyros, our TACNAV II system
offers vehicle crews and combat commanders a powerful tool for
unjammable navigation as well as full integration with the
increasingly robust digital battlefield. This is a field-proven
system and one our customers have confidence in, as illustrated by
this new contract, which will run in parallel with another
long-term TACNAV II contract received from the same European
contractor in 2001.� KVH�s TACNAV II is a FOG-based tactical
navigation system for vehicles that combines GPS position data with
inputs from its fiber optic gyro, optional digital compass, and the
vehicle�s odometer to provide unjammable, precision navigation,
heading, and pointing data for vehicle drivers, crews, and
commanders. TACNAV II also offers a link between each vehicle and
the customer�s Battle Management System (BMS), making each unit a
node in a secure military network that consolidates a wide range of
tactical data to provide detailed information to individual units
and military commanders. TACNAV systems are currently in use on
U.S. and allied vehicles participating in ongoing operations in
Iraq and elsewhere. Military forces fielding TACNAV include the
U.S. Army, Marine Corps, and Navy as well as many allied customers,
among them Canada, France, Sweden, Great Britain, Germany, Spain,
Australia, New Zealand, Saudi Arabia, Taiwan, Malaysia,
Switzerland, and Italy. Due to contractual restrictions, additional
details regarding the customers and vehicle platforms cannot be
disclosed at this time. Visit http://www.tacnav.com for complete
details regarding KVH�s defense navigation and guidance products.
Note to editors: High-resolution images of KVH�s defense navigation
products are available at http://press.kvh.com for download and
editorial use. About KVH Industries, Inc. KVH Industries, Inc., is
a premier manufacturer of systems to provide access to live mobile
media ranging from satellite TV to telephone and high-speed
Internet for vehicles and vessels as well as a leading source of
navigation, pointing, and guidance solutions for maritime, defense,
and commercial applications. The company�s products are based on
its proprietary mobile satellite antenna and fiber optic
technologies. An ISO 9001-certified company, KVH is based in
Middletown, Rhode Island. 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; and customer preferences, requirements and
expectations. The actual results could differ materially. Factors
that may cause such differences include, among others, uneven
military sales cycles, changes in military fielding and equipment
requirements, and changes in international situations, as well as
those discussed in KVH�s most recent Form 10-K filed with the SEC.
KVH does not assume any obligation to update its forward-looking
statements to reflect new information or developments. KVH and
TACNAV are registered trademarks of KVH Industries, Inc. All other
trademarks are the property of their respective companies.
KVH Industries (NASDAQ:KVHI)
Historical Stock Chart
From Jun 2024 to Jul 2024
KVH Industries (NASDAQ:KVHI)
Historical Stock Chart
From Jul 2023 to Jul 2024