KVH sells inertial nav business for $55M; Q2 rev down 4% to $41.8M, net loss narrows to $1.4M

KVH INDUSTRIES INC DE

Q2 revenue $41.8M (-4% YoY); net loss $1.4M ($0.08/share) vs loss $5.7M ($0.31) prior year.
Sale of inertial navigation unit to EMCORE for $55M cash; proceeds to fund strategic alternatives or capital return.
mini-VSAT broadband airtime revenue up 12% to $25.8M; mobile connectivity sales increased $0.8M.
Inertial navigation sales down 24% ($2.3M); TACNAV product sales fell to $0.2M.
Non-GAAP adjusted EBITDA $4.1M, up from $1.5M; non-GAAP EPS $0.04 vs -$0.05.

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