KVH Industries reports Q2 EPS (12c) vs 4c last year

Reports Q2 revenue $28.7M vs $33.6M last year. Commenting on the company’s second quarter results, Brent C. Bruun, KVH’s Chief Executive Officer, said, “The maritime communications industry continues to undergo significant changes driven by the emergence of LEO networks. We have taken aggressive steps this year, both in anticipation of and in response to these changes, in order to position the company to adapt to new market realities. In addition to better positioning the company for the future, we anticipate that our recently completed reorganization should result in annualized operating expense savings of approximately $5.0 million, with a portion of those benefits having been realized in the second quarter of this year.