KVH Receives $10 Million Order for TACNAV Tactical Navigation Systems

MIDDLETOWN, R.I., July 16, 2020 (GLOBE NEWSWIRE) — KVH Industries, Inc., (Nasdaq: KVHI), announced today that it has received a new order with a net value of more than $10 million for its TACNAV^® tactical navigation systems for use by an international military customer. All hardware deliveries for this order are scheduled to take place in 2020.

“KVH’s battle-proven TACNAV systems provide the precise navigation that is vital to mission success,” says Dan Conway, executive vice president of KVH’s inertial navigation group. “With militaries demanding assured positioning, navigation, and timing (A-PNT) solutions, this new order reaffirms the value of KVH’s unjammable TACNAV products and adds to our backlog.”

This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding our financial goals for future periods, anticipated revenue and the impact of our future initiatives on revenue, competitive positioning, profitability, and product orders. Actual results could differ materially from the forward-looking statements made in this press release. Factors that might cause these differences include, but are not limited to: the adverse impact of the COVID-19 pandemic, as well as governmental, business and other responses thereto and the resulting economic slowdown, on our revenues, results of operations and financial condition, which could be material; delays in the receipt of anticipated orders for our inertial navigation products, or the potential failure of such orders to occur at all, continued substantial fluctuations in military sales, including to foreign customers; the unpredictability of defense budget priorities as well as the order timing, purchasing schedules, and priorities for defense products, including possible order cancellations; the uncertain impact of potential budget cuts by government customers; the need for, or delays in, qualification of products to customer specifications or regulatory standards; export restrictions, delays in procuring export licenses, and other international risks. These and other factors are discussed in more detail in KVH’s most recent Form 10-K and Form 10-Q filed with the SEC on February 28, 2020, and May 1, 2020, respectively. Copies are available through its Investor Relations department and website, https://ir.kvh.com. KVH does not assume any obligation to update its forward-looking statements to reflect new information and developments.

KVH Industries, Inc. has used, registered, or applied to register its trademarks in the U.S.A. and other countries around the world, including but not limited to the following marks: KVH and TACNAV. All other trademarks are the property of their respective companies.

For further information, please contact:
Jill Connors
Sr. Manager, Media & Industry Analyst Relations
KVH Industries, Inc.
Tel: +1 401 851 3824
[email protected]