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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