KVH Industries Inc. (KVHI:NASDAQ) is a premier manufacturer of systems to provide access to live mobile media ranging from satellite TV to telephone and high-speed Internet for vehicles, vessels, and planes. The company’s products are also a leading source of navigation, pointing, and guidance solutions for maritime, defense, and commercial applications.

KVH Industries’ products are based on the company’s proprietary mobile satellite antenna and fiber optic technologies. The company’s range of products include both military and commercial products. In the military area, the company’s guidance and stabilization products include tactical navigation systems used in a variety of military vehicles and precision fiber optic gyro-based systems that help platforms such as weapons turrets and radar units, as well as provide guidance for munitions.

KVH Industries’ fiber optics products are also used in commercial applications such as industrial robotics, train-track geometry measurement systems, and undersea remotely operated submersibles. The company’s other commercial products enable customers to receive live digital television, telephone, and Internet services while they travel.

KVH Industries has a good balance sheet with a current cash position of $50 million and only $2 million in debt. The company also seems to be growing steadily. The company reported revenues of $23.1 million in the first quarter of 2008. This was an increase of 13% from the same period last year. Over the past two years, the stock price has traded in the $7 to $10 range.

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