KVH Receives Record $35.6 Million Order for Tactical Navigation Systems & Services
June 07 2012 - 6:00AM
KVH Industries, Inc., (Nasdaq:KVHI) announced today that it has
received a $35.6 million contract from the Office of the Program
Manager-Saudi Arabian National Guard for approximately $22 million
in equipment and $13 million in services to modernize its military
vehicles. KVH will be the prime contractor for this Foreign
Military Sale (FMS), supplying TACNAV® TLS and TACNAV Light
navigation systems and managing the installation, integration, and
training services as well as the construction of a retrofit
facility. Deliveries of the TACNAV systems are expected to begin as
soon as the third quarter of 2012 and continue into 2013.
Installation, integration, and training services will be provided
over the period from early 2013 to the second half of 2014.
"KVH's TACNAV systems are an important backup to satellite-based
navigation systems that might be blocked by natural terrain or
man-made structures, deliberately jammed, or otherwise rendered
unexpectedly unavailable due to a variety of circumstances,"
explains Dan Conway, KVH's vice president of business development.
"The system is a crucial resource when continuous navigation,
battle management, and situational awareness are important. This is
the largest TACNAV order in KVH's history, reaffirming the value of
our TACNAV products in international military markets. It is also a
great addition to our foundation of defense-related revenue for the
coming years."
KVH's TACNAV military vehicle navigation systems provide
unjammable, precision navigation, heading, and pointing data for
vehicle drivers, crews, and commanders. Whenever reliable GPS
signals are unavailable, TACNAV navigates using dead-reckoning
based on its own heading and distance traveled measurements,
providing all onboard systems with continuous position calculations
to enable them to function correctly while GPS is blocked, jammed,
or otherwise degraded.
TACNAV systems are currently among the most widely fielded
tactical navigation systems in the world. Military forces fielding
TACNAV include the U.S. Army and U.S. Marine Corps, as well as many
allied customers, among them Canada, Sweden, Great Britain,
Germany, Spain, Australia, New Zealand, Saudi Arabia, Taiwan,
Malaysia, Switzerland, and Italy.
Please visit http://www.tacnav.com for additional details about
KVH's tactical navigation products.
Note to Editors: High-resolution, press-ready images of KVH's
TACNAV products are available at http://press.kvh.com for download
and editorial use.
About KVH Industries, Inc.
KVH Industries is a leading manufacturer of solutions that
provide global high-speed Internet, television, and voice services
via satellite to mobile users at sea, on land, and in the air. KVH
is also a premier manufacturer of high performance sensors and
integrated inertial systems for defense and commercial guidance and
stabilization applications. The company is based in Middletown, RI,
USA with facilities in Illinois, Denmark, Norway, and
Singapore.
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
materially. Factors that may cause such differences include, among
others, 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.
CONTACT: Nicole Mongillo
KVH Industries, Inc.
401-845-2443
nmongillo@kvh.com
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