[SatNews] KVH Industries, Inc. reported financial results for the quarter ended September 30, 2010. Revenue for the third quarter of 2010 was $27.8 million, up 23 percent from the quarter ended September 30, 2009. Diluted earnings per share for the quarter totaled $0.04 on net income of $0.6 million. Excluding transaction costs associated with the acquisition of Virtek Communication, and a change to the deferred income tax valuation allowance, quarterly adjusted net income was $1.6 million, and adjusted diluted EPS was $0.11. During the same period last year the company reported net income of $0.4 million or $0.03 per diluted share, on revenues of $22.6 million. For the nine months ended September 30, 2010, revenue was $85.2 million, up 36 percent compared to $62.8 million for the nine months ended September 30, 2009. KVH reported net income of $8.0 million or $0.54 on a per diluted share basis for the first nine months of 2010. Excluding transaction costs associated with the acquisition of Virtek Communication, and changes to the deferred income tax valuation allowance, year to date adjusted net income was $5.0 million, and adjusted diluted EPS was $0.34. During the same period last year, the company reported a net loss of $2.0 million or $0.14 on a per share basis. To read the entire financial report, access this direct link.
Satnews Daily
October 25th, 2010
KVH... Financially Speaking...
[SatNews] KVH Industries, Inc. reported financial results for the quarter ended September 30, 2010. Revenue for the third quarter of 2010 was $27.8 million, up 23 percent from the quarter ended September 30, 2009. Diluted earnings per share for the quarter totaled $0.04 on net income of $0.6 million. Excluding transaction costs associated with the acquisition of Virtek Communication, and a change to the deferred income tax valuation allowance, quarterly adjusted net income was $1.6 million, and adjusted diluted EPS was $0.11. During the same period last year the company reported net income of $0.4 million or $0.03 per diluted share, on revenues of $22.6 million. For the nine months ended September 30, 2010, revenue was $85.2 million, up 36 percent compared to $62.8 million for the nine months ended September 30, 2009. KVH reported net income of $8.0 million or $0.54 on a per diluted share basis for the first nine months of 2010. Excluding transaction costs associated with the acquisition of Virtek Communication, and changes to the deferred income tax valuation allowance, year to date adjusted net income was $5.0 million, and adjusted diluted EPS was $0.34. During the same period last year, the company reported a net loss of $2.0 million or $0.14 on a per share basis. To read the entire financial report, access this direct link.