Quarterly Financial Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial information

Financial information for interim periods was as follows:


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(in thousands, except per share amounts)
2020
Product sales	$	13,094	$	13,949	$	16,650	$	20,926
Service sales	23,474		22,977		24,462		23,201
Cost of product sales	9,636		9,554		10,422		11,996
Cost of service sales	15,195		14,378		14,875		15,069
Operating expenses (a)	19,385		16,430		16,318		28,412
Loss from continuing operations (a)	(7,648)		(3,436)		(503)		(11,350)
Net loss from continuing operations (a)	(6,214)		(3,552)		(537)		(11,637)

Net loss (a)	$	(6,214)	$	(3,552)	$	(537)	$	(11,637)
Net loss continuing operations per share (b):
Basic	$	(0.35)	$	(0.20)	$	(0.03)	$	(0.65)
Diluted	$	(0.35)	$	(0.20)	$	(0.03)	$	(0.65)



Net loss per share (b):
Basic	$	(0.35)	$	(0.20)	$	(0.03)	$	(0.65)
Diluted	$	(0.35)	$	(0.20)	$	(0.03)	$	(0.65)
2019
Product sales (c)	$	13,215	$	15,189	$	14,808	$	18,713
Service sales	23,161		24,541		24,503		23,763
Cost of product sales (c)	8,284		12,649		10,823		11,131
Cost of service sales	15,373		15,379		15,029		15,475
Operating expenses (c)	18,953		18,381		18,317		19,195
Loss from continuing operations (c)	(6,234)		(6,679)		(4,858)		(3,325)
Net loss from continuing operations (c)	(6,497)		(3,294)		(3,308)		(2,910)
Net income (loss) from discontinued operations	243		50,630		(1,036)		(573)
Net (loss) income (c)	$	(6,254)	$	47,336	$	(4,344)	$	(3,483)
Net loss continuing operations per share (b):
Basic	$	(0.38)	$	(0.19)	$	(0.19)	$	(0.17)
Diluted	$	(0.38)	$	(0.19)	$	(0.19)	$	(0.17)
Net income (loss) discontinued operations per share (b):
Basic	$	0.01	$	2.90	$	(0.06)	$	(0.03)
Diluted	$	0.01	$	2.90	$	(0.06)	$	(0.03)
Net (loss) income per share (b):
Basic	$	(0.36)	$	2.71	$	(0.25)	$	(0.20)
Diluted	$	(0.36)	$	2.71	$	(0.25)	$	(0.20)

a.Includes an impairment charge of $10,490 for the KVH Media Group reporting unit within the mobile connectivity segment during the fourth quarter of 2020.

b.Net loss per share is computed independently for each of the quarters. Therefore, the net loss per share for the four quarters may not equal the annual net loss per share data.

c.The Company’s product sales, costs of product sales, sales, marketing and support expense, income tax benefit and net loss from continuing operations for 2019 include adjustments to correct immaterial prior period accounting errors related to the implementation and application of ASC 606. See Note 11 of our consolidated financial statements for more information.