KVH Industries drops 10% on lowered Q3 guidance
KVH Industries Inc. (Nasdaq:KVHI) fell by more than 10% this morning after the company lowered its revenue and earnings expectations for the third quarter.
After the bell on Thursday, the Middletown, R.I.-based company said it now expects to report revenue in the range of $15.6 million to $16 million and bottom-line results well below its original expectations of $0.01 to $0.05. KVH Industries had said previously that it expected revenue of $19 million to $20.5 million for the third quarter.
KVH Industries manufactures systems to provide access to live mobile media. It also provides navigation, pointing, and guidance solutions for maritime, defense and commercial applications.
By late morning KVH Industries is at $7.47, down $0.93 from Thursday’s close. Shares have ranged between $6.69 and $10.19 in the past year.
For detailed price information and news stories on KVH Industries, click KVHI.
