- EPS $0.18; Record quarterly revenue of $39.5M
- mini-VSAT Broadband Q4 airtime revenue up 53% year-over-year
- Guidance & Stabilization Q4 revenue up 25% year-over-year
MIDDLETOWN, R.I., Feb. 12, 2013 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq:KVHI) today reported financial results for the fourth quarter ended December 31, 2012. Revenue for the fourth quarter of 2012 was $39.5 million, up 24% from the quarter ended December 31, 2011. Diluted earnings per share for the quarter totaled $0.18 on net income of $2.8 million. During the same period last year the company reported net income of $1.6 million or $0.11 per diluted share with revenues of $31.9 million.
For the year ended December 31, 2012, revenue was $137.1 million, up 22% from the $112.5 million reported for the year ended December 31, 2011. KVH reported net income of $3.6 million or $0.24 on a per diluted share basis for the full year 2012. For the year ended December 31, 2011, the company reported net income of $0.9 million or $0.06 on a per diluted share basis.
"Our record results this quarter reflect continued growth from both our broadband communications and guidance and stabilization businesses," said Martin Kits van Heyningen, KVH's chief executive officer. "We continue to see solid momentum in our business both in terms of short-term sales success and an expanding pipeline of future opportunities. With VSAT airtime revenues in the fourth quarter increasing 53% compared to the same quarter last year, we expect to have a higher degree of predictability over a significant element of our revenues going forward."KVH's mobile communications revenue, including satellite television products, was $21.5 million for the fourth quarter of 2012, a 23% increase year-over-year. Combined, mini-VSAT Broadband airtime and TracPhone ® product revenues in the fourth quarter amounted to $14.5 million, up 33% compared to the same period last year. Maritime satellite TV sales increased 31% year-over-year, reflecting the continued market acceptance of our new TracVision ® HD11 system. KVH's guidance and stabilization revenue, which relates to our fiber optic gyro (FOG) solutions, TACNAV military navigation systems, and related services, was $18.0 million in the fourth quarter of 2012, up 25% year-over-year. During the fourth quarter, sales of our FOGs were up 48%, at $7.6 million, compared to the same period last year.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV