KVH Industries (KVHI) shares are trading lower after the company warned that Q4 revenues will fall short of Street expectations.
For Q3, the company posted revenue of $27.8 million and non-GAAP profits of 11 cents a share; the Street has been expecting $28 million and 6 cents.
For Q4, KVH sees revenue of $26.5 million to $28.5 million, and profits of 2-6 cents a share; the Street has been projecting $30 million and 13 cents. The company, which makes both mobile communications and defense electronics products, said Q4 “will be more challenging that we had anticipated a few months ago,” noting that sales of fiber optic gyros, which are used in remote weapon systems, will be lower than expected.
KVHI is off $1.41, or 8.8%, to $14.56.
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