KVH Industries, Inc. (KVHI) financial statements (2022 and earlier)

Company profile

Business Address 50 ENTERPRISE CENTER
MIDDLETOWN, RI 02842
State of Incorp. DE
Fiscal Year End December 31
SIC 3663 - Radio and Television Broadcasting and Communications Equipment (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments24,523 48,27218,07542,91552,134
Cash and cash equivalents11,376 18,36518,05034,59626,422
Short-term investments13,147 29,907258,31925,712
Receivables33,648 32,89129,66328,31631,152
Inventory, net of allowances, customer advances and progress billings24,640 23,46522,94222,73220,745
Inventory24,640 23,46522,94222,73220,745
Contract with customer, asset1,230 1,4583,566
Other undisclosed current assets3,789 3,1883,4943,8164,801
Total current assets:87,830 109,27477,74097,779108,832
Noncurrent Assets
Operating lease, right-of-use asset3,055 6,286
Property, plant and equipment60,114 53,58453,24843,52136,586
Intangible assets, net (including goodwill)7,857 20,35142,73148,99249,181
Goodwill6,570 15,40832,21333,87231,343
Intangible assets, net (excluding goodwill)1,287 4,94310,51815,12017,838
Contract with customer, asset, net3,104 3,4086,971
Deferred income tax assets56 45
Other noncurrent assets6,778 6,4436,7365,9275,134
Deferred tax assets, net 2024
Other undisclosed noncurrent assets   226  
Total noncurrent assets:80,964 90,117109,91298,46090,925
TOTAL ASSETS:168,794 199,391187,652196,239199,757
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities26,210 28,40133,85730,30421,519
Accounts payable11,265 15,03117,72615,7368,436
Accrued liabilities7,892 7,73310,9649,2108,317
Employee-related liabilities7,053 5,6375,1675,3584,766
Deferred revenue3,989 4,443
Debt261 2,8319,9282,4827,900
Liability for uncertainty in income taxes592 5211,1161,5701,283
Deferred revenue and credits6,9196,661
Contract with customer, liability9,193
Other undisclosed current liabilities2,830 2,1941,9162,0742,280
Total current liabilities:33,882 38,39056,01043,34939,643
Noncurrent Liabilities
Long-term debt and lease obligation1,224 3,48219,43744,57250,153
Long-term debt, excluding current maturities   19,43744,57250,153
Operating lease, liability1,224 3,482
Liabilities, other than long-term debt4,711 7,53010,9902,6533,459
Deferred revenue4,466 5,476
Contract with customer, liability9,070
Deferred tax liabilities, net 2,6343,133
Deferred income tax liabilities215 762
Other liabilities30 1,2921,92019326
Other undisclosed noncurrent liabilities   1,700  
Total noncurrent liabilities:5,935 11,01232,12747,22553,612
Total liabilities:39,817 49,40288,13790,57493,255
Stockholders' equity
Stockholders' equity attributable to parent128,977 149,98999,515105,665106,502
Common stock203 194190188184
Treasury stock, value(11,851) (11,461)(10,164)(13,150)(13,150)
Additional paid in capital156,199 144,485139,617134,361129,660
Accumulated other comprehensive loss(3,409) (2,767)(14,731)(11,317)(16,809)
Retained earnings (accumulated deficit)(12,165) 19,538(15,397)(4,417)6,617
Total stockholders' equity:128,977 149,98999,515105,665106,502
TOTAL LIABILITIES AND EQUITY:168,794 199,391187,652196,239199,757

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues171,767 157,893170,761160,088176,122
Revenue, net160,088176,122
Cost of revenue(109,740) (103,105)(95,379)(90,166)(99,300)
Cost of goods and services sold  (2,300) (90,166)(99,300)
Gross profit:62,027 54,78875,38269,92276,822
Operating expenses(79,973) (75,884)(82,546)(78,686)(78,144)
Operating loss:(17,946) (21,096)(7,164)(8,764)(1,322)
Nonoperating income8,131 2,1041,290293788
Investment income, nonoperating886 2,003635659513
Other nonoperating income (expense)7,245 101655(366)275
Interest and debt expense(56) (1,020)(1,793)(1,467)(1,436)
Loss from continuing operations before income taxes:(9,871) (20,012)(7,667)(9,938)(1,970)
Income tax expense (benefit)108 4,003(565)(1,096)(5,547)
Net loss:(9,763) (16,009)(8,232)(11,034)(7,517)
Other undisclosed net income attributable to parent  49,264   
Net income (loss) available to common stockholders, diluted:(9,763) 33,255(8,232)(11,034)(7,517)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss:(9,763) (16,009)(8,232)(11,034)(7,517)
Other comprehensive income (loss)(9,940) 45,219(11,646)(5,542)(16,726)
Comprehensive income (loss), net of tax, attributable to parent:(19,703) 29,210(19,878)(16,576)(24,243)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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