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Mobile satellite communications systems supplier KVH Industries Inc. reported a profitable second quarter and first half of 2003 thanks in part to sales to RV manufacturers, the company reported today (July 17).
“Our existing satellite business continues to thrive thanks to new marine product introductions and consistent growth in our sales to RV manufacturers and aftermarket resellers,” said Martin Kits van Heyningen, president and CEO.
During the second quarter, Fleetwood Enterprises Inc., Forest River Inc., Monaco Coach Corp. and Canada’s Triple E RV all selected KVH’s TracVision line of satellite TV antennas for their 2004 models, according to KVH, a Nasdaq Stock Market-traded company.
KVH earned $438,000 during the second quarter, compared with a net loss of $812,100 incurred a year earlier.
During the first half of this year, Middletown, R.I.-based KVH earned $621,000, compared with a net loss of $1.96 million a year earlier.
The company’s second-quarter sales revenue increased 14% to $14.4 million and its sales during the first six months of this year increased 23% to $27.5 million.