Thursday, August 14, 2008
GlobalSCAPE Announces Rescheduling of Conference Call and Revenue for First Six Months of 2008
SAN ANTONIO -- GlobalSCAPE, Inc. (AMEX:GSB),
a leading developer of file centric software for the Internet, announced today that
it has rescheduled its quarterly conference call, previously scheduled for August
14, 2008. The conference call will now be held on August 19, 2008 at 4:00 p.m. Central
Time. GlobalSCAPE also announced that it had filed a Form 12b-25, Notification of
Late Filing, with respect to the filing of its Quarterly Report on Form 10-Q ended
June 30, 2008. GlobalSCAPE anticipates that it will file the Form 10-Q on or before
August 19, 2008.
GlobalSCAPE also announced its revenue results for the three and six months ended
June 30, 2008. Revenue for the three months and six months ended June 30, 2008 were
$4,213,066 and $8,268,885, respectively. This compares to revenue of $6,418,025
and $10,041,172, respectively, for the three and six months ended June 30, 2007.
The decrease was largely due to a non-recurrent sale to the U.S. Army for approximately
$2.8 million that occurred during the second quarter of 2007. Were it not for this
non-recurring sale, revenue for the three month period ended June 30, 2008 would
have increased by $595,000 and by $1,027,000 for the six months ended June 30, 2008.
David L. Mann, GlobalSCAPE's interim President stated "We have previously announced
that revenue in our core business would remain steady in a range of $4.0 million
to $4.5 million per quarter for the first three quarters of this year. We are pleased
to report that revenue for the quarter ended June 30, 2008 was within this range
and that revenue for the first six months of this year was also within this range.
In addition, as we announced earlier this year, we are in the process of introducing
new products that we believe will help us increase our revenues by the fourth quarter
of this year. I am pleased to announce that we have added several significant products
already this year."
CuteSendIt.com, a Software as a Service (SaaS) solution launched in early July,
is already getting traction. The service helps our customers to easily send large
files to their clients and business partners without the headache of email attachments.
We expect that CuteSendIt will not only build a steady source of recurring revenue
through subscriptions, but will also be a source of new leads for our enterprise
products. So far, we have positive results on both fronts. The CuteSendIt marketing
strategy will continue to leverage the brand recognition of the CuteFTP product
EFT Server's AS2 add-on module, also released in July, is receiving strong interest
from prospects and customers. The AS2 module allows organizations to securely and
reliably exchange Electronic Data Interchange (EDI) messages with their trading
partners. AS2 expands EFT Server's potential customer base beyond Manager File Transfer
into the larger B2B Gateway and Enterprise Application Integration (EAI) market
CuteFTP Lite, released in August, is an entry-level FTP product with a very simple
user interface, for customers who may not need the more advanced features of CuteFTP
Home and Pro. CuteFTP Lite also provides a lower-priced offering without devaluing
our Home and Pro products. This lower price point will allow GlobalSCAPE to pursue
emerging markets more aggressively and will also allow us to pick up a greater portion
of our trial users.
Mr. Mann added, "While we are always pleased to have large sales such as the
sale to the U.S. Army which occurred in 2007, we believe that our core business
will continue to grow, particularly as our new products gain market acceptance."
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," "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, filed on March 26, 2008 with the Securities and Exchange