GlobalSCAPE Forecasts Record Revenues Up 90%+
SAN ANTONIO - GlobalSCAPE, Inc., (OTCBB:GSCP), a leading developer of secure file transport products, wide-area file systems (WAFS), and collaboration and continuous data protection (CDP) products, today projected record revenues for the quarter ending September 30, 2006, exceeding $3,300,000. These results show a 90%+ increase from the third quarter 2005, revenues of $1,723,682.
Included in this Q3 revenue projection is more than $700,000 from our newly acquired subsidiary, Availl. While GlobalSCAPE's internal revenue growth this quarter was up over 50% from Q3 2005, Availl's revenue growth was up more than 100% from Q3 2005.
"We really like the growth prospects in all of our markets. While GlobalSCAPE continues to provide excellent secure file management software solutions to our customers, Availl brings to our product line the most advanced acceleration and true mirrored/coherent multi-directional Distributed File System available on the market today," commented Randy Poole, President and CEO. "I am excited about the growth opportunities in coming quarters as we integrate these two fine companies. When all of our numbers are available in mid-November, I believe our shareholders will come to appreciate our excitement with this acquisition."
GlobalSCAPE 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.
Based in Andover, Mass., and acquired by GlobalSCAPE last month for stock and cash totaling $9,650,000, Availl is the market leader in real time wide area file systems (WAFS) and Continuous Data Protection software. With the most advanced acceleration and true mirrored/coherent multi-directional Distributed File System, Availl's enterprise solutions are used by 14 of the Fortune 100 companies, and thousands of sites of all sizes around the globe. Availl's customers have both efficient and transparent WAFS, as well as consolidated and continuous data and database protection in real time, and on any scale. The Availl solution allows truly distributed organizations to function transparently across any distance. For more information, please visit Availl at http://www.availl.com
For corporate information, please visit http://www.globalscape.com or call GlobalSCAPE toll-free at 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 "believe," "expect," "should," "intend," "estimate," and "projects," 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/A Number 1 for the 2005 calendar year, filed on May 3, 2006 with the Securities and Exchange Commission.