MURRAY HILL, N.J., Nov. 13, 2012 /PRNewswire/ -- Glowpoint Inc., (NYSE MKT: GLOW), a leading global provider of cloud and managed video services, today announced that the U.S. Patent and Trademark Office has approved and issued patent number 8,259,152 for its Video Call Distributor ("VCD") invention that allows high definition video to be distributed and integrated with traditional voice call distribution systems to support applications such as video banking.
Glowpoint's Video Call Distributor application and software code integrates many features and services of traditional voice call distribution systems with video calls, eliminating the need for businesses to upgrade their existing platforms to add video capabilities. The VCD also allows end-users to answer both audio and video calls from the same interface, reducing the need to add additional hardware and resources to add video capabilities.
"More and more businesses want to use videoconferencing to create more customer intimacy and improve overall customer service," stated Joe Laezza, Glowpoint's President and CEO. "We worked closely with customers in the banking and retail industries to develop the VCD. This solution allows our customers and partners to implement a customized platform to enhance their existing traditional contact center capabilities."
Q4 2012 Guidance
Based on strong sales bookings in the third quarter period, the company has announced that it expects to see fourth quarter 2012 revenue and adjusted EBITDA margins to exceed $9 million and 15% respectively.
"We are ending the year on a strong note, and this puts us on course to deliver our 2013 full year guidance of $40 million in revenue and 20% adjusted EBITDA margins," said Tolga Sakman, Glowpoint's CFO and Senior Vice President of Corporate Development.
Glowpoint, Inc. (NYSE MKT: GLOW) provides cloud and managed video services that make video meetings simple, reliable, and the standard for bringing people together for business meetings. Through our OpenVideo® cloud, we make video meetings the replacement for in person and audio conferencing with our suite of cloud and managed services that permit any device to connect across any network, simply and reliably. Glowpoint supports hundreds of clients located in 68 countries and is the trusted partner for leading unified communications providers, telepresence manufacturers, global carriers and A/V integration firms. In addition, Glowpoint offers access to thousands of public videoconferencing facilities to extend businesses reach and provide the ability to meet face to face across the globe without boundaries. To learn more please visit www.glowpoint.com.
Non-GAAP Financial Information
Adjusted EBITDA is defined as income (loss) from continuing operations before depreciation, amortization, interest expense, interest income, taxes, stock-based compensation, acquisition costs and severance. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by total revenues. Adjusted EBITDA is not intended to replace operating income, net income, cash flow or other measures of financial performance reported in accordance with generally accepted accounting principles. Rather, Adjusted EBITDA is an important measure used by management to assess the operating performance of the company. Adjusted EBITDA as defined here may not be comparable to similarly titled measures reported by other companies due to differences in accounting policies. Additionally, Adjusted EBITDA as defined here does not have the same meaning as EBITDA as defined in our Securities and Exchange Commission filings prior to this date. A reconciliation of Adjusted EBITDA to net income from continuing operations is shown below.
Forward looking and cautionary statements
The information in this release may contain statements that are or may be deemed to be forward-looking statements and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. These factors, risks, and uncertainties include market acceptance and availability of new video communications services; the non-exclusive and terminable-at-will nature of sales agreements; rapid technological change affecting demand for our services; competition from other video communication service providers; and the availability of sufficient financial resources to enable us to expand our operations, as well as other risks detailed from time to time in our filings with the Securities and Exchange Commission. We make no representation or warranty that the information contained herein is complete and accurate; we have no duty to correct or update any information.
SOURCE Glowpoint, Inc.