Nucor earnings beat by $0.08, revenue fell short of estimates
KVH Industries , Inc. (NASDAQ:KVHI), a $106 million market cap company specializing in radio and TV broadcasting and communications equipment, held its annual stockholders’ meeting on Wednesday. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, though it faces profitability challenges with negative earnings in the last twelve months. During the meeting, stockholders voted on several key proposals.
Stockholders elected Brent C. Bruun and Joseph Spytek as Class II directors for a three-year term ending in 2028. Bruun received 12,099,018 votes in favor, 1,144,547 against, 5,329 abstentions, and 3,811,879 broker non-votes. Spytek received 12,834,651 votes in favor, 409,914 against, 4,329 abstentions, and 3,811,879 broker non-votes.
Additionally, stockholders approved, on a non-binding advisory basis, the compensation of the company’s named executive officers. This proposal garnered 12,233,111 votes in favor, 973,675 against, 42,108 abstentions, and 3,811,879 broker non-votes.
Lastly, the appointment of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. This decision received 16,957,880 votes in favor, 90,240 against, and 12,653 abstentions.
The voting results were certified by an independent inspector of election. The information in this report is based on a press release statement filed with the Securities and Exchange Commission (SEC).
In other recent news, KVH Industries reported its first-quarter 2025 earnings, missing both earnings per share (EPS) and revenue forecasts. The company posted an EPS of -$0.09, falling short of the expected -$0.07, while revenue reached $25.4 million, below the anticipated $27.32 million. Despite these misses, the company noted strong growth in its Low Earth Orbit (LEO) business and record shipments of connectivity terminals. Operating expenses increased by 5% from the previous quarter, and the cash balance decreased by $2 million. KVH Industries is transitioning from GEO to LEO-based mobile connectivity, which may position it well for future growth. The company expects positive cash flow in 2025 and anticipates ongoing subscriber growth. During the earnings call, analysts inquired about LEO margins and service add-ons, highlighting key areas of focus for investors and analysts. KVH Industries continues to manage its GEO bandwidth commitments and foresees potential terminal access charges from Starlink later in the year.
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