ViewCast Corp., a developer of industry-leading solutions for the transformation, management and delivery of digital media over enterprise, broadband and mobile networks, posted its fourth-quarter results for the three months ended December 31, 2010, reporting its third consecutive quarter of solid year-over-year revenue growth.
Fourth quarter 2010 revenues increased 44 percent to $5.0 million from $3.4 million in the prior year period.
Operating expenses for the quarter were $2.7 million as compared to $2.4 million reported for the fourth quarter of 2009. Operating income increased $196,000 for the fourth quarter 2010 compared to a loss of $(275,000) for the year-earlier period.
Net income for the fourth quarter 2010 was $142,000, or a net loss per share of $(0.00), compared to a loss of $(301,000), or a net loss per share of $(0.01), in the fourth quarter 2009.
Full-year 2010 revenues increased 25 percent to $17.3 million compared to $13.9 million for the full year of 2009.
Operating expenses for 2010 were $10.9 million, compared to $11.4 million in 2009. The operating loss was $377,000 compared to an operating loss of $2.7 million in 2009.
Net loss for 2010 was $(551,000), or a net loss per share of $(0.04), compared to a net loss of $(2.8 million), or a net loss per share of $(0.10), in 2009.
ViewCast president and CEO Dave Stoner said sales for the upcoming year are solid, and that the company plans on expanding its sales force for new distribution opportunities.
“The sustained improvement in top and bottom line performance in the fourth quarter and throughout 2010 indicates that the turnaround is progressing and we are focused on reaching new levels of productivity and growth in the new year. Our sales pipeline across our product portfolio continues to be healthy and we are seeing customers returning to more normal patterns of investment as they look for new ways to monetize their digital media assets,” Stoner stated in the press release. “We continue to expand our portfolio with products like the Niagara 4100, ideally suited for remote events using wireless broadband uplinks where wired networks are not available. And we are expanding our sales force and distribution channels worldwide to drive new customers and business opportunities in the coming quarters. We look forward to driving record levels of revenue in 2011.”
For more information visit www.viewcast.com
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