Thursday, March 09, 2006
GlobalSCAPE Files 10-K Annual Report for 2005
Revenue and Net Income increase for year ended 12/31/05
SAN ANTONIO, TEXAS -- GlobalSCAPE (OTCBB:GSCP), a leading developer of FTP, enhanced file management and content management solutions, reported results for the year ended December 31, 2005 in its Form 10-K filed with the SEC on March 9, 2006.
GlobalSCAPE reported revenues of $6,833,048 and net income of $1,541,182 for the year ended 12/31/05. This was a 39% growth in revenues and a growth of 669% in net income over 2004 numbers of $4,930,660 and $200,423 respectively. GlobalSCAPE reported revenues of $1,867,606 for the 4th quarter, with net income of $463,271, a growth in revenue of 56% from 2004's 4th quarter of $1,200,502 and a growth in net income of 593% over 2004's 4th quarter net income of $66,851.
"We are pleased with our 2005 results and look forward to more solid growth in 2006. We continue to make real strides in solving customer problems in the secure file management market, and we are pleased with the growth of those products. We have assembled a talented group of people dedicated to understanding the problems encountered by enterprise level customers needing to securely move large files over the Internet and finding simple, easy to use solutions for those problems," said Randy Poole, president and chief operating officer. "We are convinced that as long as we stay dedicated to this kind of solution for our customers, we will continue our exciting growth. We will continue to evaluate buy/build options as we develop that list of products that our prospects and customers need," continued Poole.
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).