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KVHI Posts Robust Q4 Results, V7 Business On Track

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Analysts at Needham & Co maintain their "buy" rating on KVH Industries Inc (NASDAQ: KVHI), while reducing their estimates for the company. The target price for KVHI is set to $14.

KVH Industries reported its Q4 results ahead of the estimates, driven by the better-than-expected performance of its FOG products. The analysts are “appreciative of the longer term growth prospects of company’s FOG business, while at the same time watchful for a potential unforecast drop in FOG demand as M-ATV related shipments end late in 2010”

KVHI has issued inline guidance for Q1. “We continue to be big fans of KVH’s still-nascent V7 maritime broadband business, which we believe is positioned to drive strong top and bottom line growth for the company, once its regional gateway deployments are completed at the end of 2Q10,” the analysts add. Needham & Co has reduced its EPS estimate for FY10 from $0.37 to $0.28.

More Analyst Ratings here

 

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