KVH Industries (KVHI) Tops Q4 EPS by 1c

KVH Industries (NASDAQ: KVHI) reported Q4 EPS of $0.13, $0.01 better than the analyst estimate of $0.12. Revenue for the quarter came in at $43.9 million versus the consensus estimate of $42.8 million.

Fourth Quarter 2016 Highlights

• Revenue was at the high end of the guidance range at $43.9 million, which was a decrease of 19%, from $54.0 million in the fourth quarter of 2015. Excluding foreign exchange translation, revenue decreased 15%.
• Net loss was $6.8 million, or $0.43 per share, compared to net income of $4.1 million, or $0.26 per share, in the fourth quarter of 2015, below our guidance range by $0.37 per share. The company recorded $6.6 million in income tax expense, of which $7.1 million related to certain discrete non-cash tax reserves. These charges are excluded from the calculation of non-GAAP EPS.
• Non-GAAP net income was $2.2 million, or $0.13 per share, compared to non-GAAP net income of $6.8 million, or $0.43 per share in the fourth quarter of 2015, exceeding the high end of the guidance by $0.03 per share.
• Non-GAAP adjusted EBITDA was $4.3 million, compared to $9.7 million in the fourth quarter of 2015, exceeding the high end of the guidance by $0.8 million.
• The company had $52.1 million in cash, cash equivalents, and marketable securities on its balance sheet at December 31, 2016, compared to $45.3 million as of December 31, 2015.

For earnings history and earnings-related data on KVH Industries (KVHI) click here.

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