KVH reports Q4 revenue down 2% to $43.1M, net loss narrows; CEO retires, restructuring with 10% workforce cut

KVH INDUSTRIES INC DE

Q4 revenue $43.1M (-2% YoY); net loss -$4.1M ($0.22 per share) vs -$11.6M ($0.65) last year.
Mini-VSAT airtime revenue up 18% to $23.9M; subscribers up 12%.
TACNAV sales plummeted $7M to $0.2M, partially offset by FOG sales +18%.
CEO Martin Kits van Heyningen retires; COO Brent Bruun becomes Interim CEO.
Restructuring: 10% workforce reduction, annual savings ≥$5M; 2022 EBITDA guidance $11-15M vs $4M.

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