Videoserver, Inc. Reports 1999 Second Quarter Financial Results
Revenue Of $16.8 Million Up 29% Over Preceding Year
Burlington, MA, July 15, 1999 - VideoServer, Inc. (NASDAQ:VSVR) today reported revenue of $16.8 million for the second quarter ended June 30, 1999, a 29% increase over $13.0 million reported in the second quarter of 1998. Net income for the quarter was $1,371,000 or ten cents per share compared to net income of $518,000 or four cents per share for the corresponding quarter in 1998. Through the first six months ending June 30, 1999, revenue was $33.4 million, a 35% increase over the $24.8 million reported in the corresponding period in 1998. Net income for the first six months was $2,703,000 or twenty cents per share compared to a net loss of $780,000, or six cents per share in the corresponding 1998 period.
"This has been another good quarter for the company," said Khoa Nguyen, VideoServer president and CEO. "Our revenue reflects the progress we are making with both VideoServer's Series 2000 ISDN-based products and Encounter, our Internet Protocol (IP)-based product family. Release 6.1 of Series 2000, which began shipping in June, contains ease-of-use and quality features that are stimulating new sales as well as upgrade demand from installed customers. We are also pleased with the order rate for our Encounter products, and we continue to expand the number of networking resellers and service providers carrying the Encounter product line." |
