GlobalSCAPE Reports First Quarter 2005 Results
Revenue and Net Income up over same quarter in prior year
SAN ANTONIO, TEXAS -- GlobalSCAPE (OTCBB:GSCP), a leading developer of enhanced file management and content management solutions, reported results for its quarter ended March 31, 2005 in its 10-Q filed with the SEC today.
GlobalSCAPE reported revenues of $1,422,381 and net income of $158,570 compared to revenues of $1,172,137 and a net loss of $205,600 for the same quarter in the prior year. The results of this show a $250,244, or 21%, improvement in revenue and an improvement in net income of $364,170 when compared to the same quarter in 2004. The Company's total operating expense decreased $114,599 quarter over quarter. In addition, there was a net increase in cash for the quarter of $144,024 compared to a net decrease in cash of $179,989 for the quarter ended March 31, 2004.
"We will continue to enhance our existing products and introduce new products that fit our customers' requirements. The progress we have made over the last year is largely due to focusing on the needs of our customers and we will continue to do so. The $364,000 swing in net income over the same quarter in 2004 shows we are headed in the right direction," said Randy Poole, President and Chief Operating Officer of GlobalSCAPE. "We continue to improve operational performance by focusing on delivering value to our customers," continued Poole. "They drive our business!"
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 (OTCBB: GSCP) 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).