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KVH INDUSTRIES, INC.

(KVHI)
  Report
Delayed Nasdaq  -  04:00 2022-11-28 pm EST
11.21 USD   -0.18%
11/22KVH Industries Receives Delayed Filing Notice From Nasdaq
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11/21Kvh Industries Inc De : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
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11/21KVH Industries, Inc. Receives Expected Deficiency Notice from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q
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KVH INDUSTRIES INC DE Financial Statements and Exhibits (form 8-K/A)

08/16/2022 | 06:08am EST
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(b) Pro Forma Financial Information

The unaudited pro forma consolidated balance sheet of KVH Industries, Inc. (the "Company") as of June 30, 2022 and the unaudited pro forma consolidated statements of operations of the Company for the year ended December 31, 2021, and for the six months ended June 30, 2022, in each case giving pro forma effect to the Company's disposition (the "Transaction") of its inertial navigation business (the "Business"), are attached as Exhibit 99.1 and are incorporated herein by reference.

The unaudited pro forma consolidated balance sheet of the Company as of June 30, 2022 is presented as if the Transaction had occurred on June 30, 2022. The unaudited pro forma consolidated statement of operations of the Company for the year ended December 31, 2021 is presented as if the Transaction had occurred on January 1, 2021. The unaudited pro forma consolidated statement of operations of the Company for the six months ended June 30, 2022 is presented as if the Transaction had occurred on January 1, 2022. In order to derive the pro forma financial information, the historical results of the Company have been adjusted to eliminate the assets, liabilities and results of operations of the Business. Pro forma adjustments are described in the notes to the unaudited pro forma consolidated financial statements. The unaudited pro forma consolidated financial statements are presented for illustrative purposes only. The pro forma adjustments are based upon available information and certain assumptions that management believes are reasonable under the circumstances; however, actual amounts could differ. The unaudited pro forma consolidated financial statements are not necessarily indicative of the operating results or financial position that would have been achieved had the disposition been consummated as of the dates indicated or of the results that may be obtained in the future. The Company will account for the sale of the Business as a discontinued operation for all periods presented beginning with the third quarter of 2022.

The unaudited pro forma consolidated financial statements and the accompanying notes thereto should be read in conjunction with, and are qualified by, the historical financial statements and notes thereto of the Company. The Company's historical financial statements are included in its Annual Report on Form 10-K for the year ended December 31, 2021 and its Quarterly Report on Form 10-Q for the six months ended June 30, 2022.

(d) Exhibits

   Exhibit
     No.             Description
     99.1            Pro forma consolidated financial statements of the Company as of June 30, 2022
                     and for the year ended December 31, 2021 and the six months ended June 30,
                     2022 giving pro forma effect to the disposition of the inertial navigation
                     segment








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