Aug 12th, 2007
Company Experiences 162% Revenue Growth and 323% Net Income Growth
SAN ANTONIO, Texas - GlobalSCAPE (AMEX:GSB), leading the market in the integration of Managed File Transfer and Wide Area File Services technologies, today announced its second quarter results.
Revenue for the quarter ending June 30, 2007, grew to $6,418,025, or 162% over the $2,445,327 registered in the 2nd quarter of last year. Net Income increased by 323% to $2,114,876 or $.12 a share on both a basic and fully diluted basis for the quarter.
"I am especially excited about the way our core business, Secure File Transfer and File Sharing continues to explode," commented Randy Poole, President and CEO. "At 60% growth, we would have had a great quarter without the Defense Department order. Since inception in '03, our server-side business has more than doubled each year from $600 thousand in '04 to $2.9 million in '05, to $6 million in '06, and we'll exceed $13 million this year," stated Poole. "Those core products are fueling our steady, if not dramatic, growth and making it possible for us to participate in the very large order arenas that are not as predictable. We'll take advantage of those opportunities as they occur while focusing on the day-to-day activities that have gotten us here," concluded Poole.
GlobalSCAPE, a provider of Global Managed File Transfer (MFT) solutions and wide-area file services (WAFS) technologies, delivers a modular approach to solving the enterprise challenges of security, bandwidth, latency and regulatory compliance. GlobalSCAPE's products securely and efficiently move files such as financial data, medical records, customer files, intellectual property, and other sensitive documents of any size between supply chain partners and branch offices. GlobalSCAPE's products are used by mid-sized and large enterprise companies, including virtually all of the Fortune 100, leading technology, banking, healthcare, and public sector organizations. Headquartered in San Antonio, TX., GlobalSCAPE is also the developer of CuteFTP, the most popular file transfer protocol application on the market. For more information on our risk-free purchase options, visit www.globalscape.com or call 800-290-5054 (US) or 210-308-8267 (international).
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," "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 2006 calendar year, filed on March 22, 2007 with the Securities and Exchange Commission.