PLANO, Texas, March 2, 2011 /PRNewswire/ -- ViewCast Corporation (OTC Bulletin Board : VCST ), a developer of industry-leading solutions for the transformation, management and delivery of digital media over enterprise, broadband, and mobile networks, today announced that the Company had a strong fourth quarter of 2010, the third consecutive quarter of substantial year-over-year revenue growth. ViewCast management expects to continue significant annual growth for 2011 and looks forward to introducing new products and features along with establishing additional strategic business partnerships throughout the year and into 2012, according to President and CEO Dave Stoner. Full financial results for the 2010 fourth quarter and year will be announced at the end of March.
"Once again we achieved steady, substantial fourth quarter and year-over-year revenue growth," Stoner said. "Thanks to the recovery of the economy, our investments in product development and an influx of talented senior management and staff, we believe we are on track in 2011 to enjoy the best year for digital media product sales in ViewCast's history."
Stoner outlined some of the major accomplishments of 2010, including:
- A record year for business with ViewCast's largest OEM customer.
- The enthusiastic customer response to the launch of the Niagara 4100, a rugged, portable streaming media appliance that delivers high-definition (HD) video from virtually any location.
- Addition of Apple HTTP Live Streaming for the iPhone and iPad to the Niagara encoding platform.
- New experienced senior leadership in sales, business development and product development.
Stoner's positive outlook for 2011 is based on a variety of market and other factors. He said, "The data we see on emerging customer activities indicates that we are returning to a solid base with more normal seasonal purchasing patterns. That indicates to us another strong year of growth with the first quarter showing the least strength as annual plans take shape, followed by steady growth in the balance of the year as those customer plans are executed. We also anticipate the kick-off of at least one new large customer relationship in the first half of 2011 reinforcing that pattern."
Stoner continued, "Substantial new business opportunities exist in the market and our products are well positioned to capture those sales opportunities identified. We believe by increasing our sales reach into the market and feet on the street, more sales opportunities will be generated under our capable sales leadership; such initiatives will likely translate into continued and accelerated revenue growth."
That confidence has been reflected by private investors including a ViewCast board member resulting in the Company's recent $750,000 equity raise at the end of 2010. The capital added a little kick start to accelerate the addition of sales staff and increase lead generation programs besides providing additional operational working capital. Already, the expansion of the Company sales force into a truly global unit with new team members in Europe and a local presence in the Asia-Pacific region has been accomplished.
"We have methodically built a foundation for another growth year in 2011," Stoner concluded. "Our strategy continues to be to expand our global sales footprint by enhancing our internal sales team, partnering with key global distributors and seeking strategic merger and acquisition prospects, while at the same time investing in product development to meet the needs of a rapidly evolving marketplace."
ViewCast develops industry-leading hardware and software for the transformation, management and delivery of professional quality video over broadband, enterprise and mobile networks. ViewCast's award-winning solutions simplify the complex workflows required for the Web-based streaming of news, sports, music, and other video content to computers and mobile devices, empowering broadcasters, businesses, and governments to easily and effectively reach and expand their audiences. With more than 350,000 video capture cards deployed globally, ViewCast sets the standard in the streaming media industry. ViewCast Niagara® streaming appliances, Osprey® video capture cards and VMp™ digital media management systems provide the highly reliable technology required to deliver the multi-platform experiences driving today's digital media market.
ViewCast (www.viewcast.com) is headquartered in Plano, Texas, USA, with sales and distribution channels located globally.
ViewCast, Osprey, VMp and Niagara are trademarks or registered trademarks of ViewCast Corporation or its subsidiaries. All other trademarks are the property of their respective owners.
Safe Harbor Statement
Certain statements in this release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and reflect the Company's current outlook. Such statements apply to future events and are therefore subject to risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, changes in market and business conditions, demand for the Company's products and services, technological change, the ability of the Company to develop and market new products, increased competition, the ability of the Company to obtain and enforce its patent and avoid infringing other parties' patents, and changes in government regulations. All written and verbal forward-looking statements attributable to ViewCast and any person acting on its behalf are expressly qualified in their entirety by the cautionary statements set forth herein. ViewCast does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date on which the forward-looking statements are made. For a detailed discussion of these and other cautionary statements and factors that could cause actual results to differ from the Company's forward-looking statements, please refer to the company's reports on Form 10-K and 10-Q on file with the U.S. Securities and Exchange Commission.
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