Lack of earnings out. 3:40 late.
Subj: ViewCast.com Announces Second Quarter 1999 Results;...
Date: 7/21/99 7:40:54 PM Eastern Daylight Time
From: AOL News
ViewCast.com Announces Second Quarter 1999 Results; Improvement in Net Loss Per Share
DALLAS--(BUSINESS WIRE)--July 21, 1999--ViewCast.com, Inc. (Nasdaq:VCST), a leading provider of Internet and networked video solutions, today reported its financial results for the second quarter ended June 30, 1999.
Second quarter revenues were up sequentially to over $2.2 million from $2.0 million in the first quarter, and down from $2.6 million in the second quarter of 1998. Net loss for the quarter was $1.7 million, improved from a net loss of $2.1 million in the previous quarter and flat compared with the second quarter of 1998. Basic and diluted net loss per share for the second quarter 1999 was ($0.15) compared to
($0.20) for the quarter ending March 31, 1999 and for the second quarter in 1998.
"The improvement in our earnings is attributable, in part, to our business realignment implemented last year", said Joe Autem, a member of ViewCast.com's Board of Directors and its Office of the Chief Executive. "We are encouraged by this quarter's results and with the restructuring behind us, sales growth and profitability is our focus going forward."
Neal Page, Vice President of ViewCast.com, added "Our industry-leading system solutions, coupled with our strategic partnerships, gives us a unique advantage in the rapidly expanding network video and streaming media marketplace."
ViewCast.com will hold its Annual Meeting of Shareholders on July 22, 1999 at 1:30 p.m. Central time. The meeting will be held at the company's office in Dallas, Texas. The annual meeting will be streamed using ViewCast.com streaming media products and will be available on-demand for thirty days at the company's Web site viewcast.com.
About ViewCast.com
ViewCast.com enables video communication over the Internet and corporate networks through its components, systems, and turnkey products. The company is known around the world as the leading provider of enterprise-wide, digital video communications solutions for both real-time and on-demand applications. Osprey(R) video cards, ViewCast(R) streaming video solutions and Viewpoint VBX(TM) system products deliver a wide array of video solutions for digital video communication systems. ViewCast.com is unique in its ability to deliver cutting edge networked video solutions while delivering systems to transition legacy video communication systems. ViewCast.com's products are available from leading OEMs, system integrators, leading resellers and application developers worldwide.
Visit our Web site at viewcast.com for more information.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current judgment on certain issues. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially. Important factors which could cause actual results to differ materially are described in the Company's reports on Form 10-KSB and 10-QSB on file with the Securities and Exchange Commission.
--30--AR/na*
CONTACT: Shelton Communications Group
Contact:
Vickie Gorton/Cathy Grittner, 972/239-5119
Fax: 972/239-2292
Vgorton@sheltongroup.com
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