KVH Industries (KVHI) Misses Q1 EPS by 2c

KVH Industries (NASDAQ: KVHI) reported Q1 EPS of ($0.04), $0.02 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $40.4 million versus the consensus estimate of $42.55 million.

“Overall, given the headwinds in the commercial maritime sector, we were pleased with our results in the first quarter,” said Martin Kits van Heyningen, KVH’s chief executive officer. “We had a solid quarter for both VSAT and marine TV hardware sales, and are confident that we continue to gain market share. We did see a small decline in the average revenue per user (ARPU) for our VSAT airtime subscribers, particularly those operating in the offshore oil and gas sector which resulted in VSAT airtime being down 1% year-over-year. Our new mini-VSAT Broadbandsm 2.0 service is proving very popular with our customers and is generating higher average ARPUs and improved margins. Our overall VSAT airtime gross profit margin, at 36% was up 47 basis points from a year ago.”

GUIDANCE:

KVH Industries sees FY2016 EPS of $0.66-$0.96, versus the consensus of $0.67. KVH Industries sees FY2016 revenue of $190-210 million, versus the consensus of $196.9 million.

For earnings history and earnings-related data on KVH Industries (KVHI) click here.

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