Nov 03rd, 2005
Revenue and Net Income Up Over Same Quarter in Prior Year
SAN ANTONIO -- GlobalSCAPE (OTCBB:GSCP), a leading developer of enhanced file transfer management and content management solutions, reported results for its quarter ended September 30, 2005 in its 10-Q filed with the SEC today.
Earnings per share for the quarter ended September 30, 2005 were $.029 compared to $.010 for the same period in 2004. GlobalSCAPE reported revenues of $1,723,685 and net income of $393,728 compared to revenues of $1,270,223 and a net income of $134,971 for the same quarter in the prior year. The results of this show a $453,462, or 36%, improvement in revenue and a 192% improvement in net income of $258,757 when compared to the same quarter in 2004. In addition, there was a net increase in cash for the nine months ended September 30, 2005 of $811,248 compared to a net increase in cash of $114,058 for the nine months ended September 30, 2004. Net income for the nine months ended September 30, 2005 was $1,077,911 on revenues of $4,965,442 compared to net income of $133,572 on revenues of $3,370,158 for the nine months ended September 30, 2004.
"We are pleased with our revenue growth this quarter of 36% over the same period last year and with our three quarters improvement of 47%. Our net income for this nine month period was an improvement of almost $1,000,000. We expect to continue with the same plan -- enhancing our Secure Server and Enhanced File Transfer (EFT) offerings by adding more options, solving more problems, and attracting more and larger users. We expect our year over year improvement to continue in the fourth quarter," said Randy Poole, President and Chief Operating Officer of GlobalSCAPE.
This press release, other than the historical information, consists of "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) which are identified by the use of words such as "believes," "expects," "projects," and similar expressions. While these statements reflect the Company's current beliefs and are based on assumptions that the Company believes are reasonable, they are subject to uncertainties and risks that could cause actual results to differ materially from anticipated results. These risks and uncertainties are detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's reports on Form 10-K, 10-Q and 8-K.
GlobalSCAPE provides secure file management software that enables companies to safely send data over the Internet. GlobalSCAPE's products guarantee the privacy of critical information such as the transfer of financial data, medical records, customer files, intellectual property, and other sensitive documents. GlobalSCAPE's file management software ensures compliance with government regulations on protecting information and allows enterprises to reduce IT costs, increase efficiency, track and audit transactions, and automate processes. GlobalSCAPE's products are used by leading technology, banking, healthcare, and public sector organizations and can be customized to fit various customer needs, creating a variety of solutions. In addition, GlobalSCAPE provides content management and website development tools. Founded in 1996, GlobalSCAPE is the developer of CuteFTP, the most popular file transfer protocol application on the market. GlobalSCAPE is headquartered in San Antonio, TX. For more information, please visit http://www.globalscape.com or call GlobalSCAPE toll-free at 800-290-5054 (US) or 210-308-8267 (international).