KVH Industries Report Q1 Results, VSAT Business Growth

Press Release
Monday, April 30, 2012

KVH Industries gain ground in growing maritime broadband market, VSAT business grew strongly, according to Q1 2012 results

  • Quarterly Revenue $26.7M, Up 10% Year-Over-Year
  • VSAT Business Continues to Grow Strongly; Unit Shipments Up 120% Year-Over-Year

"We had a great quarter in our satellite business," said Martin Kits van Heyningen, KVH's chief executive officer. "Revenue from the mini-VSAT business grew 61% compared to the first quarter last year, and unit sales increased 120%. Our mini-VSAT Broadband airtime revenue for the quarter was close to $7 million, and the related gross margin increased to approximately 28% from only 4% one year ago. This improvement reflects the beneficial leverage that we are achieving from the Ku-band network infrastructure, and it demonstrates the integrity of our VSAT business model."

"We were very pleased with our progress in winning a leadership position in the growing maritime broadband market," continued Mr. Kits van Heyningen. "In several customer-run, head-to-head competitions with many other maritime services, KVH mini-VSAT Broadband has been selected for large fleet-wide roll outs. We believe our mini-VSAT Broadband service is perfectly positioned as the preferred solution for customers needing reliable, fast and affordable offshore connectivity—which is why we are now recognized as the market share leader in maritime VSAT services."

In the first quarter of 2012, total mobile communications revenue was approximately $20.8 million, up 33% on a year-over-year basis. Sales of marine communications products and services other than VSAT increased 9% year-over-year, which included a 19% increase in maritime satellite TV systems. Satellite TV system sales to the leisure marine market showed some solid growth for the first time in many quarters, in part due to the initial shipments of the new TracVision HD11 system.


People & Company News

MN100: Klüber Lubrication NA LP

The Company: Klüber Lubrication is one of the world’s leading manufacturers of specialty lubricants, offering high-end tribological solutions to virtually all industries and markets worldwide.

Grand Bahama Shipyard Adds Four Executives

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four

MN100: Voith Turbo

The Company: Voith Turbo specializes in the design, manufacture and servicing of high performance driveline equipment. From drive components to electronic drive systems,

Technology

IWSA to Host Wind Propulsion Forum at SMM

The International Windship Association (IWSA) will host its annual Wind Propulsion Innovation Forum at SMM2016 in Hamburg, including an extensive agenda with expert

Kohler Launches New Tier 3 Diesel Marine Generators

Kohler Power Systems, manufacturer of diesel and gasoline marine generators for pleasure and commercial craft applications, announced the availability of its new

Hoppe Marine to Present Smart Shipping Solutions

For decades, Hamburg-based Hoppe Marine has produced onboard measuring and control systems. At SMM 2016 the internationally-positioned family-run company will be

Marine Electronics

Hoppe Marine to Present Smart Shipping Solutions

For decades, Hamburg-based Hoppe Marine has produced onboard measuring and control systems. At SMM 2016 the internationally-positioned family-run company will be

US Coast Guard Announces Final TWIC Rule

The U.S. Coast Guard announced Tuesday the publication of the final rule concerning Transportation Worker Identification Credential (TWIC) reader requirements. The

MN100: Baker, Lyman & Co., Inc.

The Company: A wheelhouse favorite for generations, Baker, Lyman & Co. is the oldest NOAA & Admiralty Chart Agent in the United States. Baker Lyman has been provisioning vessels with nautical charts,

Finance

Singapore's SembMarine to Take Full Control of PPL Shipyard

Singaporean rig builder Sembcorp Marine Ltd said it had agreed to buy the 15 percent of PPL Shipyard Pte Ltd it did not already own for about $115 million from

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

Investors to Acquire $1.5 bln Shipping Portfolio from NORD/LB

NORD/LB Norddeutsche Landesbank and KKR Credit have reached an agreement by which, subject to completion of certain conditions precedents, KKR Credit, together

Communication

USCG Evaluates Comms Equipment in Alaska

Coast Guard Research and Development Center evaluates state-of-the-art communications equipment and Next Generation Incident Command System in Alaska   At nearly 663,

Connected Ships, Smart Data, Cybersecurity to Feature in SHIPPINGInsight

Ship connectivity, smart data and cybersecurity will be central themes on the agenda at the fifth SHIPPINGInsight Fleet Optimization Conference & Exhibition. The

Nakilat Upgrades VSAT Service for LNG/LPG Fleet

Nakilat, the shipping arm of Qatar’s liquefied natural gas sector, has entered into a contract with Global Eagle Entertainment Inc.’s Emerging Markets Communications

SatCom

Connected Ships, Smart Data, Cybersecurity to Feature in SHIPPINGInsight

Ship connectivity, smart data and cybersecurity will be central themes on the agenda at the fifth SHIPPINGInsight Fleet Optimization Conference & Exhibition. The

Nakilat Upgrades VSAT Service for LNG/LPG Fleet

Nakilat, the shipping arm of Qatar’s liquefied natural gas sector, has entered into a contract with Global Eagle Entertainment Inc.’s Emerging Markets Communications

Lerwick Port Launches Latest VMS

Lerwick Port Authority have inaugurated a new Vessel Monitoring System (VMS) which utilises the latest technology to improve the handling of ship movements at the busy Shetland port.

 
 
Maritime Careers / Shipboard Positions Maritime Security Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1132 sec (9 req/sec)