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.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Technology

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

RS at SEA JAPAN 2014

Russian Maritime Register of Shipping (RS) was the only Russian company to take part in SEA JAPAN 2014 exhibition and conference – one of the major exhibitions of the maritime industry.

When Will Deep Sea Mining Commence? The Robot is Ready

The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high grade copper and gold from the seabed off Papua New Guinea

Marine Electronics

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Nigeria Maritime Academy Gets Bridge Simulator

A NAUTIS Full Mission Bridge Simulator was purchased and delivered to the Maritime Academy of Nigeria in Oron. The new simulator will be used to provide qualitative

KVH Precision Sensors for Geodetics' Inertial Navigation Systems

KVH Industries entered into a strategic partnership with Geodetics Inc., a leader in the development of real-time, high-precision position and navigation solutions.

Finance

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

New sanctions threats as Ukraine stalemate goes on

A day after an international deal in Geneva to defuse the East-West crisis in Ukraine, pro-Russian separatists vowed not to end their occupation of public buildings

SatCom

A New Standard in Marine Communications

KVH provides and Harvey Gulf employs possibly the most sophisticated on-board SATCOM and related service package on the water. That’s no accident.     If quality service,

gplink Approved in More than 30 Countries

Remote monitoring and diagnostic services provided by gplink operate through either GSM service or through various satellite technologies. On a global scale, most

Aage Hempel to Equip 10 New PSVs

Aage Hempel, a company in worldwide merchant marine electronic service and focused on 24/7 maritime sales and service, signs agreement for the delivery of navigation

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Port Authority Ship Electronics 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: 0.1562 sec (6 req/sec)