GlobalSCAPE Reports Second Quarter 2005 Results
Revenue and Net Income Up Over Same Quarter in Prior Year
SAN ANTONIO -- GlobalSCAPE (OTCBB:GSCP - News), a leading developer of enhanced file transfer management and content management solutions, reported results for its quarter ended June 30, 2005 in its 10-Q filed with the SEC today. Earnings per share for the quarter ended June 30, 2005 were $.04 compared to $.01 for the same period in 2004. GlobalSCAPE reported revenues of $1,819,376 and net income of $525,614 compared to revenues of $1,287,797 and a net income of $204,202 for the same quarter in the prior year. The results of this show a $531,579, or 41%, improvement in revenue and a 157% improvement in net income of $321,412 when compared to the same quarter in 2004. In addition, there was a net increase in cash for the six months ended June 30, 2005, of $412,304 compared to a net decrease in cash of $111,078 for the six months ended June 30, 2004. Net income for the six months ended June 30, 2005 was $684,183 on revenues of $3,241,757 compared to a net loss of $1,399 on revenues of $2,459,934 for the six months ended June 30, 2004.
"We are pleased with our growth of revenues this quarter of 41% over the same period last year. This increase follows a 21% revenue gain in our first quarter this year. In today's environment, the concern for file transfer security is high; more companies are coming to us for solutions to their security problems. Our list of Fortune 500 clients is expanding, and we continue to focus all our attention towards meeting our clients' needs. We expect our enhanced file transfer solutions to continue to drive GlobalSCAPE's growth in revenue and earnings in coming quarters, while we continue to serve our clients with the best technology available," said Randy Poole, President and Chief Operating Officer of GlobalSCAPE.
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 - News) 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).