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KVH Industries Inc. reports it has received $2 million from multiple undisclosed customers for its navigational systems.
The orders came from U.S. government and international military customers. Under the deals, Middletown, R.I.-based KVH Industries (Nasdaq: KVHI) will provide to the customers its TACNAV tactical navigation systems and its Universal Multilingual Display systems. KVH said it expects to begin shipments in the fourth quarter.
TACNAV navigation systems provide navigation, heading and pointing data for vehicle drivers, crews and commanders. TACNAV systems, which are intended to be unjammable, can also link each vehicle to the overall digital battlefield, KVH said.
In August, KVH received a $1.7 million order from an unnamed customer for its fiber-optic gyros to be used in remote stabilized weapon systems — platforms that allow gunners to operate weapons from inside vehicles. KVH’s DSP-3100 FOGs help stabilize the sights and manage weapon recoil for remote stabilized weapon units so that the weapon stays on target whether the vehicle is stationary or moving, the company said.
In July, KVH collected $2.5 million in a previous order for the DSP-3100 precision fiber-optic gyros used in remote weapon systems. That order was expected to be completed by the end of the year, according to KVH.
KVH reported $82 million in revenue in 2008, with $3 million in net income.
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