KVH Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 01:34 pm EST
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KVH Industries, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 33.55 million compared to USD 35.17 million a year ago. Net loss was USD 4.25 million compared to net income of USD 29.65 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.22 compared to USD 0.01 a year ago. Basic loss per share was USD 0.22 compared to basic earnings per share of USD 1.58 a year ago. Diluted loss per share was USD 0.22 compared to diluted earnings per share of USD 1.58 a year ago.
For the nine months, revenue was USD 101.41 million compared to USD 102.87 million a year ago. Net loss was USD 3.33 million compared to net income of USD 23.51 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to USD 0.25 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to USD 0.25 a year ago. Basic loss per share was USD 0.17 compared to basic earnings per share of USD 1.27 a year ago. Diluted loss per share was USD 0.17 compared to diluted earnings per share of USD 1.27 a year ago.
KVH Industries, Inc. is a provider of technology-driven connectivity solutions to primarily maritime customers globally. The Company provides global high-speed Internet and Voice over Internet Protocol (VoIP) services via satellite to mobile users at sea and on land. It is also a provider of commercially licensed entertainment, including news, sports, music, and movies, to commercial customers in the maritime and hotel markets, along with supplemental value-added cybersecurity, email, and crew Internet services. It provides integrated, end-to-end services, software, and hardware that support its customersâ need for access to the Internet, VoIP, operations content, and entertainment services while on the move. The Company also manufactures in-motion, stabilized antennas that provide receive-only satellite television services. The Company also offers variety of value-added services to its maritime customers as well as news content to its hotel customers.
KVH INDUSTRIES, INC. 
