ViewCast Corp., a developer of industry-leading solutions for the transformation, management and delivery of digital media over enterprise, broadband and mobile networks, today reported its first-quarter results for the quarter ended March 31, 2011.
First-quarter revenues increased 1 percent to $3.71 million compared to $3.68 million in the prior year period.
Net loss for the first quarter 2011 was $791,000, or $(0.03) per fully diluted share, compared to a loss of $311,000, or $(0.01) per fully diluted share in the first quarter 2010.
EBITDA for the 2011 first quarter was $(578,000), compared to $(54,000) in the 2010 first quarter.
ViewCast president and CEO Dave Stoner said the company experienced an abnormal slowdown in the first quarter, though it looks forward to solid growth in the upcoming year.
“Following a very strong fourth quarter and full year 2010, we saw typical seasonal pullback in the first part of the 2011 first quarter that was deeper than we had anticipated. We also saw sales flow and order activity pick up significantly in both March and April, giving us good momentum into Q2,” Stoner stated in the press release. “Our sales pipeline across our product portfolio continues to be healthy and we are seeing both existing and new customers finding new and innovative uses for our digital encoders as they look for look for new ways to monetize their digital media assets. Our recently expanded sales force and distribution channels worldwide are already producing new opportunities and new business and we continue to anticipate a year of steady growth in 2011.”
For more information visit www.viewcast.com
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