December 31st, -0001
GlobalSCAPE... Financially Speaking...
GlobalSCAPE, Inc. (NYSE Amex: GSB) has announced financial results for its fourth quarter and 2010 fiscal year end. Revenue for fiscal 2010 was $18.6 million, an increase of 13 percent when compared with revenue of $16.5 million last year, and the highest revenue in the Company's history. Net income for fiscal 2010 was approximately $0.9 million, or $0.05 per diluted share, compared with net income of $1.4 million, or $0.08 per diluted share in 2009. Cash and short term investments grew to $11.1 million, a 35 percent increase from 2009. Revenue for the fourth quarter was $4.9 million, an increase of 18 percent compared to the fourth quarter of 2009. "Setting a new high water mark for revenue in 2010 is a significant milestone for GlobalSCAPE," said Jim Morris, GlobalSCAPE president and CEO. "We grew revenue every quarter while achieving record revenue for the fiscal year. During 2011 we are continuing our transition toward generating additional recurring revenue in the form of subscription services like our Managed Information Xchange solution. This subscription revenue potentially provides us with a growing revenue stream visible into future periods, but will require a transition that I expect to run through the later part of 2011." To read the entire financial report, access this direct PDF download link.