KVH Satellite Communications Revenues Help Company Post Strong Quarter
[Satellite News 07-23-08] Revenues in KVH’s mobile communications business improved 4 percent to $18.3 million in the company’s 2008 second quarter, the company announced July 22. The gains were driven by an increased demand for Internet access and satellite communications.
“Shipments of our TracPhone satellite communication systems, especially the TracPhone V7, were quite strong," KVH CEO Martin Kits van Heyningen, said in a statement. "The TracPhone V7 is now attracting interest in the commercial market. … We are accelerating our planned global rollout of the mini-VSAT broadband service through our recently announced agreement with ViaSat Inc. The proposed expansion of the mini-VSAT broadband coverage area will enable us to offer broadband connections to a growing market of commercial, leisure, and government vessels worldwide and open new opportunities to build our airtime service revenue.”
Despite success in mobile communication, the company’s overall revenue slipped 4 percent to $22.3 million during the period. Net income for the 2008 second quarter was a record $2 million, compared to $1.5 million in the same period a year ago.