MIDDLETOWN, R.I., May 15, 2014 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq: KVHI ) announced today that it has received a new order for its TACNAV ® tactical navigation systems for use by an international military customer in an armored vehicle application. This order is valued at more than $5.2 million. Shipments for this order are expected to begin in the next six weeks, with all services being completed by the end of September 2014. Program management, engineering services, and installation support will be provided as part of this order.
"KVH's TACNAV navigation solution is an important tool for U.S. and allied warfighters, providing precision navigation as well as coordination of vehicles in critical situations," explains Dan Conway, executive vice president of KVH's Guidance and Stabilization group. "The system serves as a crucial resource for navigation and battle management, and even as a backup in GPS-denied environments, keeping soldiers safe and out of harm's way wherever they travel. This new order reaffirms the value of KVH's TACNAV products for international militaries, and adds to our backlog for the year."
KVH's TACNAV military vehicle navigation systems provide unjammable precision navigation, heading, and pointing data for vehicle drivers, crews, and commanders. TACNAV can also serve as a heading and position source for situational awareness. The TACNAV systems ordered today are KVH's TACNAV Light and TACNAV TLS systems, which feature compact design, continuous heading and pointing data output, and flexible architecture, while also providing extremely accurate dead reckoning navigation regardless of GPS availability.
TACNAV systems are currently in use by the U.S. Army and Marine Corps, as well as many allied customers including Canada, Sweden, Great Britain, France, Germany, Spain, Egypt, Botswana, Australia, New Zealand, Saudi Arabia, Taiwan, Romania, Poland, Turkey, Malaysia, Switzerland, South Korea, Singapore, Brazil, and Italy.
Note to Editors: For more information about KVH's TACNAV tactical navigation systems, please visit the KVH website ( www.tacnav.com ). High-resolution images of KVH's TACNAV products are available at the KVH Press Room Image Library ( http://www.kvh.com/Press-Room/Image-Library.aspx ) for download and editorial use.
About KVH Industries, Inc.
KVH Industries is a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial guidance and stabilization applications. KVH is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL. The company's global presence includes subsidiaries in Belgium, Bermuda, Brazil, Cyprus, Denmark, Illinois, Japan, the Netherlands, Norway, Singapore, and the United Kingdom.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, KVH's financial goals for 2014; the functionality, characteristics, quality and performance of KVH's products and technology; and the potential value of military contracts. The actual results could differ materially. Factors that may cause such differences include, among others, lack of reliable vendors, delays in customers' qualification processes for our products or other delays in shipping, uneven military sales cycles, changes in military fielding and equipment requirements, the ability of the government and its contractors to cancel orders at their convenience, and changes in international situations. These and other risk factors are discussed in more detail in KVH's most recent Form 10-Q filed with the SEC. KVH does not assume any obligation to update its forward-looking statements to reflect new information or developments.
KVH and TACNAV are registered trademarks of KVH Industries, Inc.
Jill Connors Media & Communications Manager KVH Industries, Inc. 401-851-3824
