GlobalSCAPE Reports Third Quarter 2008 Financial Results
13 Novembre 2008 - 9:23PM
Business Wire
GlobalSCAPE, Inc. (AMEX:GSB), a leading developer of file-centric
solutions for the Internet, today reported revenues of $3.7 million
and net income of $227,000 for the third quarter 2008. The
respective revenue and net income for the third quarter 2007 were
$3.9 million and $703,000. Earnings per diluted share for the third
quarter ended September 30, 2008 and 2007 were $.01 and $.04,
respectively. The decrease in third quarter net income, compared to
the same period in 2007, is the result of increased research and
development (R&D) as well as the amortization of intangibles
related to the 2006 acquisition of Availl. The increase in R&D
expenses is due largely to the Company�s development of new
products and delivery of additional product upgrades in 2008.
Contacted for comment, James R. Morris, GlobalSCAPE President and
CEO stated, �As previously discussed in our second quarter press
release and earnings call, GlobalSCAPE has made a strategic
decision to make investments in our current and future solutions to
maintain our global leadership position in the consumer and
enterprise markets. We are very pleased to have sustained these
strategic investments in today�s economic environment. We continue
to be cash flow positive, have no long term debt, and maintain a
healthy cash balance. We plan to continue our strategic investments
for growth and deeper penetration in existing and adjacent market
spaces while conserving our cash position.� Quarterly Highlights In
July, GlobalSCAPE announced that it had been positioned in the
Leader�s Quadrant of the Gartner Magic Quadrant for the Managed
File Transfer (MFT) market. The Magic Quadrant, and associated
Gartner report, help companies evaluate MFT vendors based on their
ability to execute, and completeness of vision. GlobalSCAPE also
launched CuteSendIt�, a GlobalSCAPE-hosted Software as a Service
(SaaS) solution that allows customers to easily send large files
without using email attachments. CuteSendIt is available at
www.cutesendit.com. Also in July, GlobalSCAPE released version 5.2
of the EFT Server, adding a module to support the Applicability
Statement 2 (AS2) protocol. The AS2 module for EFT Server allows
organizations to securely and reliably exchange Electronic Data
Interchange messages with their trading partners. In August,
GlobalSCAPE delivered the initial release of CuteFTP Lite�, adding
an entry-level file transfer protocol (FTP) product to the
GlobalSCAPE portfolio. CuteFTP Lite, developed from GlobalSCAPE�s
CuteFTP� software code base, has a very simple user interface for
customers who may not need the more advanced features of CuteFTP
Home� and CuteFTP Pro�. In September, GlobalSCAPE made all versions
of CuteFTP available in five additional languages (Spanish, German,
French, Portuguese and Turkish). GlobalSCAPE also released version
3.5.2 of the Wide Area File Services (WAFS) product, adding support
for 64-bit systems. During September, GlobalSCAPE also announced
the selection of Mr. Morris as President and CEO, and the promotion
of Mendy Marsh to Chief Financial Officer. The appointment of Mr.
Morris filled the CEO position which had been vacant since the
company announced the retirement of Charles R. Poole in March 2008.
Conference Call GlobalSCAPE will host a conference call on November
13, 2008 at 3:30 pm Central Time to discuss third quarter 2008
results. To participate, call the conference call line at
1-800-380-1061 and use Conference ID# 68599949. A link to the
simultaneous webcast will be accessible from the �Investor
Relations� section of the Company�s website at www.globalscape.com.
Following the webcast, an archived version will be available on the
website for 30 days. About GlobalSCAPE GlobalSCAPE�, Inc. (AMEX:
GSB), headquartered in San Antonio, TX, provides managed file
transfer (MFT) products to securely exchange critical information
over public networks. Since the release of CuteFTP in 1996,
GlobalSCAPE's products have continued to evolve to meet the
business and technology needs of an increasingly interconnected
global marketplace. For more information about GlobalSCAPE's
products, visit www.globalscape.com. About the Magic Quadrant The
Magic Quadrant is copyrighted 2008 by Gartner, Inc. and is reused
with permission. The Magic Quadrant is a graphical representation
of a marketplace at and for a specific time period. It depicts
Gartner's analysis of how certain vendors measure against criteria
for that marketplace, as defined by Gartner. Gartner does not
endorse any vendor, product, or service depicted in the Magic
Quadrant, and does not advise technology users to select only those
vendors placed in the �Leaders� quadrant. The Magic Quadrant is
intended solely as a research tool, and is not meant to be a
specific guide to action. Gartner disclaims all warranties, express
or implied, with respect to this research, including any warranties
of merchantability or fitness for a particular purpose. Safe Harbor
Statement This press release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. The words
�would,� �exceed,� �should,� �anticipates,� believe,� �steady,�
�dramatic,� and variations of such words and similar expressions
identify forward-looking statements, but their absence does not
mean that a statement is not a forward-looking statement. These
forward-looking statements are based upon the Company�s current
expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements are risks that are
detailed in the Company�s Annual Report on Form 10-K for the 2007
calendar year, as amended by Form 10-K/A Number 1 filed with the
Securities and Exchange Commission on August 28, 2008.
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