GlobalSCAPE Reports 60% growth in 2006 and expects "Exciting" 2007
SAN ANTONIO, TEXAS — GlobalSCAPE (OTCBB:GSCP), a leading developer of secure server and Enhanced File Transfer (EFT) Management solutions and WAFS, today reported revenues of $10,973,681 and net income of $1,962,532 for the year ended 12/31/06. These numbers represent a 64.3% growth in revenues and a growth of 35.7% in net income over 2005 results of $6,678,615 and $1,446,704 respectively. It is important to note that pre-tax income more than doubled to $2,966,150 from $1,456,685. Details can be found in GlobalSCAPE's form10-K, which was also filed today.
"The year 2006 was a great year for GlobalSCAPE. Aided by our purchase of Availl, Inc., and the growing demand for our Secure Server/EFT line throughout the year, revenue grew by more than $4,000,000. With Availl's unique products in the high growth Wide Area File Sharing (WAFS) and Continuous Data Protection (CDP) markets, the outlook for 2007 is very exciting", noted Randy Poole CEO and President. "Incidentally," commented Poole, "we have yet to receive the large order mentioned in our 12/15/2006 press release. We still believe that this transaction will be consummated in the near future. Also, we are still awaiting approval of our listing on the AMEX."
GlobalSCAPE is a leading provider of managed and secured file transfer (EFT), wide area file services (WAFS), and continuous data protection software (CDP). Virtually all of the Fortune 100 use GlobalSCAPE products to secure and accelerate their data exchange. GlobalSCAPE's innovative managed file transfer solution, Enhanced File Transfer (EFT), enables all types of organizations to speed and automate the secure storage and movement of their data across the corporate firewall to external entities, and help them comply with government mandates such as HIPAA, Sarbanes-Oxley, and GLBA. GlobalSCAPE's Wide Area File Services (WAFS) deliver transparent, secure file replication that allows companies with branch offices across large geographic distances to replicate files within the corporate firewall to provide local file access speeds to each office, while reducing network utilization and maintaining file coherence and lock semantics. Continuous Data Protection (CDP) is GlobalSCAPE's real-time, continuous data backup solution that assures that any information on the network, even on distributed and remote servers, can be restored from any point in time in event of data loss. 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.