KVH Industries Earnings: Here’s Why Investors are Ambivalent Now
KVH Industries Inc. (NASDAQ:KVHI) delivered a profit and beat Wall Street’s expectations. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
KVH Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.15 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Rose 34.92% to $43.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: KVH Industries Inc. reported adjusted EPS income of $0.15 per share. By that measure, the company beat the mean analyst estimate of $0.11. It beat the average revenue estimate of $39.31 million.
Quoting Management: “The acquisition of Headland Media midway through the quarter was an important strategic move to expand our broadband communications product offerings with new media content, including the latest movies, TV shows, daily newspapers, and music. Even excluding revenue contributed by Headland Media, our core business recorded our fourth sequential record revenue quarter,” said Martin Kits van Heyningen, KVH’s chief executive officer. “Our maritime VSAT business continues to enjoy solid growth and we are excited that we are getting a favorable reception from customers regarding the new content offerings which we plan to roll out towards the end of the year.”