GlobalSCAPE, Inc. Announces Financial Results for the Second Quarter 2015
Revenue for the second quarter of 2015 was $7.9 million, which is an increase of 18 percent when compared with revenue of $6.7 million for the second quarter of 2014. Revenue for the first six months of 2015 was $14.7 million compared with $12.4 million for the same period in 2014 which is an increase of 19 percent.
Deferred revenue, which can be an indicator of future revenue trends, was $13.6 million at June 30, 2015, compared with $12.1 million at June 30, 2014, or an increase of 12 percent.
For the second quarter of 2015, the Company had net income of $1.3 million compared with net income of $488,000 for the second quarter of 2014. Earnings per share was $0.06 for the second quarter of 2015 compared with $0.02 for the second quarter of 2014.
For the first six months of 2015, net income was $2.1 million compared with $1.0 million for the same period in 2014. Earnings per share for the first six months of 2015 was $0.10 compared with $0.05 for the same period in 2014.
Adjusted EBITDA Excluding Infrequent Items for the second quarter of 2015 was $2.1 million compared with $975,000 for the second quarter of 2014 and was $3.6 million for the first six months of 2015 compared with $1.9 million for the first six months of 2014.
The Company had cash, cash equivalents and long-term investments of $16.1 million at June 30, 2015. Other than liabilities for normal trade payables and taxes, the Company has no debt.
James L. Bindseil, Globalscape’s President and Chief Executive Officer
“Our year to date results are another revenue record breaker for Globalscape. I’m proud to say that it’s due to the continued success of our major initiatives in sales, marketing, the channel, and product development. We are incredibly pleased to have achieved 19 percent year over year revenue growth so far in 2015, and we look forward to continuing to execute on the plans we have in place for the remainder of 2015.”
Globalscape Second Quarter 2015 Financial Statements
- Financial Statements (PDF)
Conference Call July 30, 2015 at 4:30 p.m. ET
Globalscape management will hold a conference call on July 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 second quarter 2015. Those wanting to join may call 800-210-9006 or 719-457-2600 and use Conference ID # 1922589. 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.