KVH Q2 earnings miss Wall Street estimates, revenues down 4%

Mobile communication products manufacturer KVH Industries Inc. (Nasdaq:KVHI) said ahead of the opening higher net income for the second quarter but lower revenues. For the quarter ended June 30, net income was a record high of $2 million, or $0.14 per share, compared with $1.5 million, or $0.10 a share, for the same quarter a year ago. Revenues were $22.3 million, a 4% drop from the same period a year earlier. Wall Street was expecting earnings per share of $0.11 on revenues of $23.5 million.

The company said next quarter’s revenues should be lifted now that its airtime business has started to contribute to revenues and that it is expanding some of its services.

In today’s pre-market trading, shares of the Middletown, R.I.-based KVH are mostly flat, down about $0.12 at $8.79.

For detailed price information and recent news stories about KVH Industries Inc., click KVHI.

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