GlobalSCAPE Announces 1st Quarter Results – Revenues up 70%, Earnings Up 246%!
SAN ANTONIO, TEXAS -- GlobalSCAPE (OTCBB:GSCP), a leading developer of secure server and Enhanced File Transfer (EFT) management solutions, today reiterated the solid results for the first quarter of 2006, released in its 10-Q filed Friday with the SEC. Revenue was $2,414,923 for Q1 2006, versus $1,422,381 for Q1 2005. Net income after taxes and options expense costs was $548,932 versus $158,570 in Q1 2005, a gain of 246%. "We are extremely pleased with these results, which reflect increasing market acceptance of our file transfer solutions," commented Randy Poole, President and CEO. "We look forward to discussing our plans and strategy for further growth at our annual meeting on Thursday, June 1, 2006."
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. For more 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.