KVH Receives $7.9 Million Fiber Optic Gyro Order for Remote Weapons Systems
KVH’s DSP-1750 fiber optic gyro will be used by Escribano to stabilize its Guardian 30 remotely controlled turret for Spanish Army vehicles
MIDDLETOWN, R.I., Aug. 05, 2021 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq: KVHI), announced today that it has received a $7.9 million fiber optic gyro (FOG) order from Escribano, a Spanish defense contractor, for its new Guardian 30 remotely controlled turret. The Guardian 30 turret was recently chosen by the Spanish Ministry of Defense for the Spanish Army’s VCR 8x8 Dragon wheeled combat vehicle. KVH’s DSP-1750 FOG will provide stabilization for the Guardian 30 turret. KVH’s shipment of FOGs to Escribano is expected to continue through 2025. Shipments increase annually over the term of the order, with a small portion scheduled for delivery in 2021 and the substantial majority of shipments scheduled for delivery after 2022.
“Escribano relies on the precision of KVH fiber optic gyros to ensure our remote weapons systems have the stabilization they need to perform in challenging defense environments,” says Angel Escribano, CEO. “We value the collaboration with a worldwide company such as KVH and we look forward to working together to produce the Guardian 30 turrets for the Spanish Army.”
“We are thrilled that Escribano has chosen our fiber optic gyros for this major remote weapons systems program,” says Sean McCormack, senior director of global inertial systems sales for KVH. “The DSP-1750 has proven its reliability in a wide range of applications for many years and continues to be the gyro of choice for platforms needing a combination of high performance and compact design.”
The innovative design of the DSP-1750 makes it easy to integrate into platforms where space and payload weight are at a premium including long-range optical and sensor systems, gimbals, autonomous vehicle navigation, and the stabilization of defense and commercial platforms.
KVH is a leading innovator for assured navigation and autonomous accuracy using high-performance sensors and integrated inertial systems. KVH’s widely fielded TACNAV® systems are currently in use by the U.S. Army and Marine Corps and more than 20 allied militaries around the world. KVH’s FOGs and FOG-based inertial measurement units (IMUs) are in use today in a wide variety of applications ranging from optical, antenna, and sensor stabilization systems to mobile mapping solutions and autonomous platforms and cars.
Note to Editors: For more information about KVH’s DSP-1750 FOG, please visit the KVH website, kvh.com/FOG. High-resolution images of KVH products are available at the KVH Press Room Image Library, kvh.com/Press-Room/Image-Library.
About KVH Industries, Inc.
KVH Industries, Inc., is a global leader in mobile connectivity and inertial navigation systems, with innovative technology designed to enable a mobile world. A market leader in maritime VSAT, KVH designs, manufactures, and provides connectivity and content services globally. KVH is also a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial applications. Founded in 1982, the company is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL, and more than a dozen offices around the globe.
This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding our financial goals for future periods, anticipated revenue and the impact of our future initiatives on revenue, competitive positioning, profitability, and product orders. Actual results could differ materially from the forward-looking statements made in this press release. Factors that might cause these differences include, but are not limited to: the customer’s right to cancel, suspend or delay the order for unshipped products at its convenience; the customer’s right to inspect and reject shipments; delays in recognition of revenue arising from the customer acceptance process; unanticipated expenses arising from the customer’s warranty terms; potential financial penalties for late delivery; the need for, or delays in, qualification of products to customer specifications or regulatory standards; export restrictions, delays in procuring export licenses, and other international risks. These and other factors are discussed in more detail in KVH’s most recent Form 10-Q filed with the SEC on July 30, 2021. Copies are available through its Investor Relations department and website, ir.kvh.com. KVH does not assume any obligation to update its forward-looking statements to reflect new information and developments.
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