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The Company develops, manufactures and markets mobile communications products for the land mobile and marine markets, and navigation, guidance and stabilization products for both defense and commercial markets.
KVH Industries primarily engages in manufacturing and sales of commercial mobile communication products, which enable people to access mobile entertainment, internet and telephone in vehicles, recreational vehicles and marine vessels. Apart from that, the company also produces navigational and guidance products for defense and commercial use. These products are used in tactical armored vehicles by the army and the commercial application is in the field of robotics, submersible vehicles and optical stabilization.The products are sold through a mix of independent dealers, distributors and manufacturers of marine and recreational vehicles. Defense products are sold directly to the U.S government and other defense contractors. Revenue from defense business consists of 30% of total revenue with the rest coming from commercial business. Net revenue increased by 15% for the nine month period ended September 2006 backed by a 21% increase in defense business and 15% increase in commercial business.Mobile communication is undergoing a revolutionary change, with more and more people demanding web-based applications. With mobile video users in U.S alone expected to touch 20 million and other aspects like gaming, internet usage all expected to increase by leaps and bounds, the market looks very lucrative. From KVH industries point of view they expect the commercial business to grow by 17% and defense business by 21%. Such positive internal and external factors are expected to raise the stock price of the company to newer heights.
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