GlobalSCAPE Reports Second Quarter 2004 Results
Net Income Doubles From the Same Quarter in 2003, Positioning the Company for Profitability
SAN ANTONIO, TEXAS -- GlobalSCAPE, a leading developer of enhanced file management and content management solutions, today reported results for its quarter ended June 30, 2004.
GlobalSCAPE reported revenues of $1,287,797 and net income of $204,202 compared to revenues of $1,309,708 and net income of $101,582 for the same period in the prior year. The Company's cost of revenues, research and development, and depreciation and amortization costs decreased $159,363, SG&A expenses increased $35,739 and net income more than doubled from the same quarter in 2003. For the six months ended June 30, 2004, GlobalSCAPE reported revenues of $2,459,934 and a net loss of $1,399 compared to revenues of $2,429,894 and a net loss of $508,834 in the six months ended June 30, 2003.
"We made a decision to focus on cost control and were able to do that without sacrificing revenue by concentrating on our core products and the customers that use them," said Randy Poole, President and Chief Operating Officer of GlobalSCAPE. "We are optimistic about our future," 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, founded in 1996, is a leading provider of enhanced file management and content management solutions. GlobalSCAPE's award-winning software and services enable individuals and organizations to easily create, move and manage information over the Internet in a secure, collaborative environment. GlobalSCAPE's software is renowned for reliability, affordability and ease of use, supporting users of all skill levels. For more information, please visit http://www.globalscape.com or call GlobalSCAPE toll-free at 800-290-5054 (US) or 210-308-8267 (international).