May 08th, 2007
SAN ANTONIO - GlobalSCAPE (OTCBB:GSCP), leading the market on the integration in Managed File Transfer and Wide Area File Services technologies, today released financial results for the first quarter, 2007. Revenue for the quarter ending March 31, 2007 was $3,623,147 compared to $2,414,923 in Q1 of 2006, representing a 50 percent increase. Income from operations declined from $812,208 to $760,585, and Net Income declined from $548,932 to $473,214.
Additional R&D spending in Q1 included approximately $200,000 for necessary enhancements to the WAFS product acquired with Availl in September 2006, and a $200,000 no-cash charge for changes in the way options are counted.
"The more work we did, the more excitement and new opportunities we found," stated Randy Poole, President and CEO of GlobalSCAPE. "We are ready now and are kicking off an aggressive marketing campaign to introduce all of our products to all of our customers. Through product availability and larger deals such as the Army order announced last week, GlobalSCAPE is generating some nice momentum and expects improved results for the second quarter."
GlobalSCAPE, a provider of Global Managed File Transfer (MFT) solutions and wide-area file services (WAFS) technologies, delivers a modular approach to solving the enterprise challenges of security, bandwidth, latency and regulatory compliance. GlobalSCAPE's products securely and efficiently move files such as financial data, medical records, customer files, intellectual property, and other sensitive documents of any size between supply chain partners and branch offices. GlobalSCAPE's products are used by mid-sized and large enterprise companies, including virtually all of the Fortune 100, leading technology, banking, healthcare, and public sector organizations. Headquartered in San Antonio, TX., GlobalSCAPE is also the developer of CuteFTP, the most popular file transfer protocol application on the market. For more information on the company's risk-free purchase options, visit www.globalscape.com or call 800-290-5054 (US) or 210-308-8267 (international).