GlobalSCAPE Projects First Quarter 2007 as Record Breaking
SAN ANTONIO - GlobalSCAPE (OTCBB:GSCP), a leading developer of secure file transfer, WAFS, and CDP solutions, today announced sales estimates for the first quarter of fiscal 2007. The Company said these revenue estimates remain subject to change as the Company completes its quarter and subsequent financial closing process.
Net revenues for the first quarter are expected to be between $3,500,000 and $3,700,000. The Company reported net revenue of $2,544,000 in the first quarter of 2006 and revenue of $3,510,000 in the fourth quarter of 2006.
"The first quarter of 2007 will set another new high for GlobalSCAPE as we continue to exceed our revenue plan," commented Randy Poole, President and CEO. "We are very close to having our WAFS and CDP products at the level that is consistent with our Availl acquisition assumptions. We expect these products to add a new gear to our growth engine. Overall, we are pleased with our first quarter performance and feel confident in reiterating our 2007 full year guidance of revenues in excess of $17.5 million," added Poole.
"I am disappointed that we have not added the large order discussed earlier, or the AMEX listing yet, but we believe both continue in process by the relevant parties. I must also add that nothing is assured until you have it in hand," he noted.
"It will be a pleasure to review our entire financials with interested parties when we release our 10-Q in early May. We will host an investor conference call in which we will comment on our business and outlook and field your questions. More information on date and instructions will be forthcoming. We also look forward to discussing our future with many of you here on June 1st at our annual stockholders meeting," concluded Poole.
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.