GlobalSCAPE, Inc. Announces Financial Results for the First Quarter 2015 and Declares Initial Quarterly Cash Dividend
GlobalSCAPE, Inc. (NYSE MKT: GSB), a leading developer of secure information exchange solutions, today announced its financial results for the three months ended March 31, 2015. The Company also declared a quarterly cash dividend.
Revenue for the first quarter of 2015 was $6.9 million, which is an increase of 20 percent when compared with revenue of $5.7 million for the first quarter of 2014.
Deferred revenue, which can be an indicator of future revenue trends, was $14.3 million at March 31, 2015, compared with $10.7 million at March 31, 2014, or an increase of 33 percent.
For the first quarter of 2015, the Company had net income of $815,000 compared with net income of $534,000 for the first quarter of 2014. Earnings per share was $0.04 for the first quarter of 2015 compared with $0.03 for the first quarter of 2014.
Adjusted EBITDA Excluding Infrequent Items was $1.5 million for the first quarter of 2015 compared with $1.0 million for the first quarter of 2014.
The Company had cash, cash equivalents and long-term investments of $15.5 million at March 31, 2015, an increase of $1.0 million over the total of the same items at December 31, 2014.
“The 20 percent revenue growth we achieved for the quarter is a direct result of our ongoing investments in product development, channel sales and marketing initiatives, and demand generation programs,” said James Bindseil, Globalscape’s President and Chief Executive Officer. “We remain confident that the plans we have in place will result in us continuing to achieve our near-term objectives that support our long-term operational and financial goals.”
Globalscape also declared a quarterly dividend of $0.015 per share of common stock payable on June 3, 2015, to shareholders of record at the close of business on May 19, 2015.
Globalscape First Quarter 2015 Financial Statements
- Financial Statements (PDF)
Conference Call April 30, 2015 at 4:30 p.m. ET
Globalscape management will hold a conference call on April 30, 2015, at 4:30 p.m. Eastern Time/3:30 p.m. Central Time to discuss financial results and other corporate matters for the first quarter 2015. Those wanting to join should call 888-505-4368 or 719-325-2376 and use Conference ID # 1817286. A live webcast of the conference call will also be available on the Investor Relations page of the company's website at www.globalscape.com. A webcast replay will be made available on the company's website shortly after the call is completed.
San Antonio, Texas-based GlobalSCAPE, Inc. (NYSE MKT: GSB) ensures the reliability of mission-critical operations by securing sensitive data and intellectual property. Globalscape’s suite of solutions features the EFT platform, the industry-leading enterprise file transfer solution that delivers military-grade security and a customizable platform for achieving best-in-class control and visibility of data in motion or at rest, across multiple locations. Founded in 1996, Globalscape is a leading enterprise solution provider of secure information exchange software and services to thousands of customers, including global enterprises, governments, and small businesses. For more information, visit www.Globalscape.com or follow the blog and Twitter updates.
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 "would," "exceed," "should," "anticipates," "believe," "steady," "dramatic," and 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 for the 2014 calendar year, filed with the Securities and Exchange Commission on March 30, 2015.