KVH Industries reports Q1 EPS (9c) vs (16c) last year

Reports Q1 revenue $25.4M vs $29.3M last year. Commenting on the company’s first quarter results, Brent C. Bruun, KVH’s Chief Executive Officer, said, “We had anticipated declines in both our airtime revenue for GEO-based services and overall revenue, and our first quarter results reflect the positive impact of our strategic initiatives and commitment to managing our costs. Subscribing vessels increased 5% sequentially, gross profit grew sequentially, and our operating expenses remain under control.”