Savannah Harbor Expansion Clears Court Hurdle
U.S. District Judge Richard M. Gergel accepted the settlement agreement between all parties involved in the mediation over the Savannah Harbor Expansion Project (SHEP) in an order that dismissed the federal litigation pending against the proposed deepening of the harbor channel. “We appreciate the patience and persistence of former Congressman Spratt and federal Magistrate Hendricks who worked throughout the mediation process ordered by Judge Gergel to bring this litigation to a successful conclusion,” said GPA Executive Director Curtis Foltz. Parties to the mediation included the South Carolina Department of Health and Environmental Control, the Savannah Riverkeeper, the South Carolina Coastal Conservation League, the South Carolina Wildlife Federation, the U.S.
KVH Industries Q1 2010 Results
KVH Industries, Inc., (NASDAQ:KVHI) reported financial results for the first quarter ended March 31, 2010. Revenue for the first quarter of 2010 was $28.0 million, up 53% from the quarter ended March 31, 2009. Net income for the period was $2.1 million, or $0.14 per diluted share. During the same period last year the company reported a net loss of $2.6 million or $0.18 per diluted share, on revenues of $18.3 million. "I am very pleased with our performance during the first quarter as we set new records for quarterly revenue and net income. These results were driven by strong contributions from our strategic initiatives in fiber optic gyros (FOGs) and global satellite communications," said Martin Kits van Heyningen, KVH's chief executive officer.
KVH Q4 2009 Results
KVH Industries, Inc., (NASDAQ:KVHI) reported financial results for the fourth quarter ended December 31, 2009. Revenue for the fourth quarter of 2009 was $26.3 million, up 24% from the quarter ended December 31, 2008. Net income for the period was $1.8 million, or $0.13 per diluted share. During the same period last year the company reported net income of $0.3 million or $0.02 per diluted share. For the year ended December 31, 2009, revenue was $89.1 million, up 8% compared to $82.4 million for the year ended December 31, 2008. KVH reported a net loss of $0.1 million or $0.01 per share for 2009. During the same period last year, the company reported net income of $3.1 million or $0.21 per diluted share.
