GlobalSCAPE Files 10-K Annual Report for 2004
Net Income Reported for Year Ended 12/31/04
SAN ANTONIO -- GlobalSCAPE (OTCBB:GSCP), a leading developer of FTP, enhanced file management and content management solutions, reported results for the year ended December 31, 2004 in its 10-K filed with the SEC on March 24, 2005. GlobalSCAPE reported revenues of $4,930,660 and net income of $200,423 for the year ended 12/31/04 as compared to revenues of $4,847,119 and a net loss of $643,001 for the year ended 12/31/03. This is an improvement in net income over 2003 by approximately $843,000. GlobalSCAPE reported revenues of $1,200,502 and net income of $66,851 for the quarter ended 12/31/04 as compared to revenues of $1,080,543 and a net loss of $216,751 for the quarter ended 12/31/03. This is an improvement in net income for the fourth quarter 2004 over 2003 of approximately $283,000. The Company's cost of revenues, research and development, and depreciation and amortization costs decreased $597,960, SG&A expenses decreased $157,161 for the year ended 12/31/04 over the year ended 12/31/03.
"We made real progress in the last nine months of 2004 as demonstrated by the more than $840,000 swing in net income, year over year," said Randy Poole, President and Chief Operating Officer of GlobalSCAPE. "We are continuing to develop our core file transfer products to meet the needs of our customers. Changes in our laws make privacy a much larger issue and we are committed to products that protect the security of Internet transactions. We have been facilitating the transfer of files over the Internet in secure fashion since 1996 and we will keep at it," 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).