MIDDLETOWN, R.I., Oct. 07, 2019 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq: KVHI) announced today that its Board of Directors has authorized a share repurchase program of up to 1 million shares, or approximately 5.5% of the company’s outstanding common stock.

“The authorization of a stock repurchase program underscores our commitment to the Company’s shareholders. This decision demonstrates our confidence in the company’s strategy, our strong balance sheet, and our ability to leverage the many strategic opportunities that lie ahead,” said Martin Kits van Heyningen, chief executive officer of KVH Industries. “We believe we can continue to invest in strategic growth initiatives, maintain financial flexibility, and return excess capital to shareholders, all of which should keep us on the path toward building long-term value.”

About KVH Industries, Inc.

KVH Industries, Inc., is a global leader in mobile connectivity and inertial navigation systems, innovating to enable a mobile world. The market leader in maritime VSAT, KVH designs, manufactures, and provides connectivity and content services globally. KVH is also a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial applications. Founded in 1982, the company is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL, and more than a dozen offices around the globe.