KVH Industries, Inc. (NASDAQ:KVHI) reported its fourth fiscal quarter results
and full year 2010 results today. The Company reported revenue of $27.0 million
for the fourth fiscal quarter, up 2.7% year over year from $26.29 million in the
same quarter last year, but slightly below the street consensus of $27.3
million. Net income of $0.245 million or 2 cents a share has been recorded for
the fourth fiscal quarter, down 86.74% from $1.847 million or 13 cents a share
in the same quarter last year. Adjusted earnings of $0.284 million or 2 cents a
share has been recorded, 3 cents below the street consensus of 5 cents a share.
For the fiscal year ended 2010, revenue of $112.2 million has been posted, up
26% year over year compared to revenue of $89.1 million in the same quarter last
year. Excluding transaction costs associated with the acquisition of Virtek
Communication, and a decrease to the deferred income tax asset valuation
allowance, full year adjusted net income was $5.3 million or 36 cents a share.
The Company announced its first fiscal quarter guidance and said it expects a
first quarter loss of 5-10 cents a share on revenue of $25.2-$26.6 million.
Analysts on an average were expecting to post earnings of 13 cents a share on
revenue of $32.2 million for the first quarter. For 2011, the company expects
revenue of $129.1-$134.7 million, below the street estimate of $137.5 million.
Shares of the company is currently trading at $13.39, up 6.69% or 84 cents after
the company reported fourth fiscal quarter results below consensus and guided
first fiscal quarter results below analysts' expectation. The Stock traded
with volume of 219,684 shares compared to the daily average of 63,170 shares
after opening at $11.40. The stock has 52 week range of $10.76-$16.66. At the
current market price, the market capitalization of the stock stands at $201.75
million with P/E of 19.82 and beta of 1.24. KVH Industries, Inc. (KVH) is a
manufacturer of solutions that provide global high-speed Internet, television,
and voice services via satellite to mobile users at sea, on land and in the air.
It is also a manufacturer of navigational sensors and integrated inertial
systems for defense and commercial guidance and stabilization applications.
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