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MIRA INFORM REPORT
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Report No. : |
497277 |
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Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
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Name : |
KVH INDUSTRIES, INC. |
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Registered Office : |
251 Little Falls Drive, Wilmington, New Castle, De, 19808 |
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Country : |
United States |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
1978 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is engaged in designs, develops, manufactures, and markets
mobile connectivity products and services for the marine and land mobile
markets. |
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No. of Employees : |
604 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
KVH INDUSTRIES, INC. |
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TradeName: |
KVH INDUSTRIES, INC. |
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ID: |
2069082 |
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Date Created: |
1978 |
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Date Incorporated: |
8/16/1985 |
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Legal Address: |
251 LITTLE FALLS DRIVE, WILMINGTON, NEW CASTLE, DE,
19808, USA |
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Operative Address: |
50 Enterprise Center Middletown, RI 02842 United States |
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Telephone: |
401-847-3327 |
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Fax: |
401-849-0045 |
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Legal Form: |
CORPORATION |
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Email: |
- |
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Registered in: |
DELAWARE |
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Website: |
www.kvh.com |
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Contact: |
Mr. Martin A. Kits Van Heyningen - Co-Founder,
Chairman, CEO & President |
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Staff: |
604 |
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Activity: |
SIC Code: 3663, Radio and Television Broadcasting
and Communications Equipment Business Categories Mobile Communication Equipment in Middletown, RI |
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History: |
KVH Industries, Inc. was founded in 1978 and is headquartered
in Middletown, Rhode Island. |
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Key Developments: |
E.R. Schiffahrt
Chooses KVH HTS Systems and Agileplans for Vessel Connectivity Feb 8 18 KVH Industries,
Inc. announced that global ship manager E.R. Schiffahrt has chosen KVH’s new advanced
TracPhone® V7-HTS antenna equipment and the AgilePlansTM subscription-based
Connectivity as a Service (CaaS) program to bring fast, global connectivity
to its container and dry bulk vessels. Installations for the first 11 vessels
have begun, with plans for a total of up to 60 vessels throughout 2018. The
AgilePlans program provides equipment and airtime for one monthly airtime
fee, with no commitment; installation at select ports and maintenance costs
are included. KVH, a mobile tech innovator, designed the TracPhone V7-HTS for
the mini-VSAT Broadbandsm network, which recently added high throughout
satellite (HTS) capacity. The 60-cm TracPhone V7-HTS provides download speeds
of up to 10 Mbps and upload speeds of 3 Mbps, enabling vessels to benefit from
marine applications designed to improve operational efficiency. KVH Industries,
Inc. Presents at Cowen and Company 39th Annual Aerospace/Defense Conference,
Feb-07-2018 09:15 AM Jan 23 18 KVH Industries,
Inc. Presents at Cowen and Company 39th Annual Aerospace/Defense Conference,
Feb-07-2018 09:15 AM. Venue: Lotte NY Palace Hotel, New York, New York,
United States. Speakers: Martin A. Kits Van Heyningen, Co-Founder, Chairman,
CEO & President. KVH Industries,
Inc. Presents at Needham & Co. 20th Annual Growth Conference, Jan-17-2018
04:10 PM Dec 19 17 KVH Industries,
Inc. Presents at Needham & Co. 20th Annual Growth Conference, Jan-17-2018
04:10 PM. Venue: Lotte New York Palace Hotel, 455 Madison Avenue at 50th
Street, New York, New York, United States. Speakers: Donald W. Reilly, Chief
Financial Officer, Martin A. Kits Van Heyningen, Co-Founder, Chairman, CEO
& President. |
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PRINCIPAL
ACTIVITY
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KVH Industries,
Inc. designs, develops, manufactures, and markets mobile connectivity products
and services for the marine and land mobile markets in the United States and
internationally. |
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Products/Services description: |
It offers mobile
satellite TV and communications products, including satellite TV antennas;
two-way satellite communications systems; onboard V-IP terminals and hub
equipment; network management hardware and software products for maritime
communications; and Iridium OpenPort hardware products and services. The
company also offers airtime plans that enable customers to obtain Internet
and voice services; and value-added, news content, and radio content
services. In addition, it provides navigation, guidance, and stabilization
products for the commercial and defense markets, including precision fiber
optic gyro-based systems that enable platform and optical stabilization,
navigation, pointing, and guidance; tactical navigation systems for tactical
trucks and light armored vehicles; and commercial products, such as
navigation and positioning systems for various applications consisting of
precision mapping, dynamic surveying, autonomous vehicles, train location
control and track geometry measurement systems, industrial robotics, and
optical stabilization applications. Further, the company offers content,
maritime news, sporting content, and television programming delivery
services; movie distribution services; maritime e-learning content and
related services; and services and support for the mini-VSAT Broadband
solution. KVH Industries, Inc. sells its mobile communications products
through independent retailers, chain stores, and distributors; and navigation
products directly to the United States and foreign governments, and
government contractors, as well as through authorized independent sales
representatives. The company also sells and leases its products directly to
end users. |
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Brands: |
KVH |
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Sales are: |
Wholesale |
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Clients: |
Te. Sam. Paraguay SA Distribucion Y Tecnologias S.A. De C.V. Astrum Satelital SA De Cv Axesat S.A |
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Suppliers: |
Bharat Electronics Ltd. Aml Comtech International Ltd |
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Operations area: |
National and International |
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The company imports from |
INDIA CHINA |
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The company exports to |
PARAGUAY MEXICO COLOMBIA |
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The subject employs |
604 Employees |
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Payments: |
Slow but correct |
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Vehicle Fleet: |
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LOCATION
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Headquarters : |
50 Enterprise Center Middletown, RI 02842 United States |
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Branches: |
KVH Industries, Inc. Inertial Navigation Group 8412 W. 185th Street Tinley Park, IL 60487-9237 U.S.A. |
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Subsidiaries: |
KVH Industries A/S - Denmark KVH Industries Pte. Ltd. - Singapore KVH Industries Brasil Comunicacao Por Satelite Ltda. -
Brazil KVH Industries Norway AS - Norway KVH Industries Japan Co. Ltd. - Japan KVH Industries UK Ltd. - United Kingdom KVH Media Group Ltd. - United Kingdom KVH Media Group Entertainment Ltd. - United Kingdom KVH Media Group Communication Ltd. - United Kingdom KVH Media Group International Ltd. - United Kingdom KVH Media Group Ltd. - Cyprus Good Morning News Sprl. - Belgium KVH Media Group ApS - Denmark KVH Media Group Communication, Inc. - United States KVH Media Group, Inc. - United States Super Dragon Ltd. - Hong Kong Videotel Consultants and Rentals Ltd. - United
Kingdom Videotel Marine International Ltd. - United Kingdom Videotel Training Services Ltd. - United Kingdom Videotel Marine Asia Ltd. - Hong Kong Videotel Pte. Ltd. - Singapore KVH Media Group India Private Ltd - India |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
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Market Capital: |
YES: KVH Industries, Inc. (KVHI) |
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Outstanding Shares: |
182.264M |
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Shareholders: |
17,128,825 |
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Management: |
Mr. Martin A. Kits Van Heyningen - Co-Founder,
Chairman, CEO & President Mr. Robert W. B. Kits Van Heyningen - Co-Founder and
VP of Research & Development Mr. Donald W. Reilly - Chief Financial Officer Mr. Brent C. Bruun - Chief Operating Officer Mr. Robert J. Balog - Senior Vice President of
Engineering |
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FINANCIAL
INFORMATION
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We attach company’s last financial statements. |
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LEGAL FILINGS |
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PATENTS |
Antenna Feed-Tube-to-Amplifier Coupling Publication number: 20080111758 Abstract: A first set of screws secures a
Cassegrain-configuration microwave antenna's primary reflector to its low-noise
block down-converter without additionally securing that reflector or the
low-noise block down-converter to the antenna's feed tube, which a second set
of screws separately secures to the low-noise block down-converter. Type: Application Filed: November 9, 2006 Publication date: May 15, 2008 Applicant: KVH Industries, Inc. Inventor: Gary D. Griffiths Current sensor Patent number: 6891622 Abstract: A method and device for measuring the
current in a conductor are presented. They utilize the Faraday effect on
counter-propagating circularly polarized beams of light in a fiber optic
coil. The light beams are transformed to and from circular polarization by a
polarization transformer comprised of a birefringent fiber with a twist
through an appropriate angle at an appropriate distance from one end. Type: Grant Filed: August 15, 2001 Date of Patent: May 10, 2005 Assignee: KVH Industries, Inc. Inventor: Richard B. Dyott Multi-band antenna system for satellite
communications Patent number: 9281561 Abstract: The present invention provides an improved
antenna system on moving platform that is in communication with multiple
satellites for simultaneous reception of RF energy at multiple frequencies.
The antenna is implemented as a multi-beam, multi-band antenna having a main
reflector with multiple feed horns and a sub-reflector to reflect Ku and Ka
frequency band signals directed by a focal region of the main reflector. Type: Grant Filed: September 16, 2010 Date of Patent: March 8, 2016 Assignee: KVH Industries, Inc. Inventor: Thomas D. Monte Broadening the linewidth of a semiconductor laser Patent number: 6466596 Abstract: The invention is directed to a system and
a method for controllably broadening the spectral characteristics, such as the
emission linewidth, of a semiconductor laser by discharging an electric
pulse, for example, a charged transmission line, across the laser terminals.
The linewidth-broadened lasers find application in fiber optic sensors, such
as fiber optic gyroscopes and current sensors, which have a relatively short
de-coherence length. Type: Grant Filed: May 10, 2000 Date of Patent: October 15, 2002 Assignee: KVH Industries, Inc. Inventor: Richard B. Dyott |
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GOVERNMENT CONTRACTS |
Government Contractor: KVH INDUSTRIES, INC. Name & Address: 50 ENTERPRISE CTR MIDDLETOWN, RI 02842-5268 Number of Defense Contracts Awarded: 198 Dollar Amount of Defense Contracts Awarded:
$39,888,836 Government Contractor: KVH INDUSTRIES, INC. Name & Address: 8412 185TH ST TINLEY PARK, IL 60487-9237 Number of Defense Contracts Awarded: 14 Dollar Amount of Defense Contracts Awarded:
$43,016,600 |
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CASES |
Spycurity LLC v. KVH Industries, Inc. Plaintiff: Spycurity LLC Defendant: KVH Industries, Inc. Case Number: 1:2018cv00270 Filed: February 15, 2018 Court: Delaware District Court Office: Wilmington Office County: New Castle Presiding Judge: Unassigned Judge Nature of Suit: Patent Cause of Action: 35:271 Jury Demanded By: Plaintiff Packet Tread LLC v. KVH Industries, Inc. Plaintiff: Packet Tread LLC Defendant: KVH Industries, Inc. Case Number: 5:2017cv00003 Filed: January 3, 2017 Court: Texas Eastern District Court Office: Texarkana Office County: Bowie Referring Judge: Caroline Craven Presiding Judge: Rodney Gilstrap Nature of Suit: Patent Cause of Action: 35:271 Jury Demanded By: Plaintiff Kappa Digital, LLC v. KVH Industries, Inc. Plaintiff: Kappa Digital, LLC Defendant: KVH Industries, Inc. Case Number: 2:2015cv00742 Filed: May 15, 2015 Court: Texas Eastern District Court Office: Marshall Office County: Collin Presiding Judge: Rodney Gilstrap Referring Judge: Roy S. Payne Nature of Suit: Patent Cause of Action: 35:271 Jury Demanded By: Plaintiff |
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TRADEMARKS |
SAILCOMP Nautical Instruments and Marine Electronics-Namely,
Digital Electronic Compasses, Hand Bearing Compasses, and Electronic… Owned by: KVH INDUSTRIES, INC. Serial Number: 73462879 AZIMUTH ELECTRONIC NAVIGATIONAL INSTRUMENTS AND DEVICES FOR USE
ON POWER BOATS, NAMELY, DIGITAL FLUXGATE MAGNETOMETERS AND INTERFACES… Owned by: KVH INDUSTRIES, INC. Serial Number: 73732553 DATA-SCOPE ELECTRONIC, NAUTICAL, OPTICAL INSTRUMENT WHICH
COMBINES THE FUNCTIONS OF A MONOCULAR RANGEFINDER, A DIGITAL CHRONOMETER,… Owned by: KVH INDUSTRIES, INC. Serial Number: 73830635 ECORE [fiber rotation accessory; namely, a hand tool used
in splicing of optical fibers] Owned by: KVH INDUSTRIES, INC. Serial Number: 74407191 AUTOGYRO fiber optic rotation sensors Owned by: KVH INDUSTRIES, INC. Serial Number: 74442480 CONTINUOUS POSITIONING SYSTEM land navigation system which combines a dead
reckoning component consisting of a gyroscope and odometer interface, a
global… Owned by: KVH INDUSTRIES, INC. Serial Number: 75206450 TRI-AMERICAS Low-noise block converters (LNB) for use in
satellite communications Owned by: KVH INDUSTRIES, INC. Serial Number: 77666582 |
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SUMMARY |
KVH Industries, Inc. designs, develops, manufactures,
and markets mobile connectivity products and services for the marine and land
mobile markets in the United States and internationally. The company has 604 regular employees. It operates
nationally and internationally, mainly importing from India and China. The company shows negative profitability in its last
financial figures. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Slow but correct |
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|
CASH FLOW |
Normal |
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|
STATUS |
Active |
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|
|
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INTERVIEW
|
|
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|
NAME |
Jessica |
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POSITION |
Operator |
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|
COMMENTS |
She confirmed the name of the company, the address
of the headquarters and location, the date of creation of the company, the
number of employees and the name of the President |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.87 |
|
|
1 |
INR 90.48 |
|
Euro |
1 |
INR 79.48 |
|
USD |
1 |
INR 65.08 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
DNS |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.