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KVH Revenues Up, Net Income Down In 1Q04

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KVH Industries [KVHI], a provider of mobile satellite communications products, and defense-related navigation and guidance systems, today reported revenue for the first quarter of 2004 was $18 million, up 37 percent from the same period one year ago. Net income, however, dropped slightly to $100,000 in first-quarter 2004 from $200,000 in first-quarter 2003. The company’s satellite products accounted for revenues of $13.9 million, compared to $7.7 million in the same three-month period one year ago.

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