KVH Industries, Inc., (Nasdaq: KVHI) announced today that it has received an $8.6 million order for its TACNAV(r) tactical navigation systems for use by an international military customer. Revenue from this order is expected to begin late in the fourth quarter of 2011 and conclude in the fourth quarter of 2014.
"KVH's TACNAV tactical navigation solution is an important tool for U.S. and allied warfighters, providing precision navigation as well as coordination of vehicles in critical situations," explains Dan Conway, KVH's vice president of business development. "The system serves as a crucial resource for navigation and battle management, and even as a backup in GPS-denied environments, keeping soldiers safe and out of harm's way wherever they travel. This new order reaffirms the value of KVH's TACNAV products for international militaries, and adds to our steady foundation of revenue for the coming years."
KVH's TACNAV military vehicle navigation systems provide unjammable, precision navigation, heading, and pointing data for vehicle drivers, crews, and commanders. TACNAV can also serve as a source of heading and position for situational awareness. The TACNAV systems ordered today will include KVH's TACNAV T.FOG(tm) Upgrade, which facilitates accurate mobile integration of direct fire weapons and fire zone coordination for improved pointing accuracy, target location, and overall operational effectiveness.
TACNAV systems are currently in use on U.S. and allied vehicles participating in ongoing operations in Afghanistan, Iraq, and elsewhere. Military forces fielding TACNAV systems include the U.S. Army and Marine Corps, as well as many allied customers, among them Canada, Sweden, Great Britain, Germany, Spain, Australia, New Zealand, Saudi Arabia, Taiwan, Malaysia, Switzerland, and Italy.
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