GlobalSCAPE, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Financial Guidance for 2016
Revenue for the year ended December 31, 2015, was $30.8 million. This result is an increase of 15% when compared with revenue of $26.8 million for the year ended December 31, 2014. For the year ended December 31, 2015, the Company had net income of $4.6 million compared with net income of $3.0 million for the year ended December 31, 2014. Earnings per share was $0.22 for the year ended December 31, 2015, compared with $0.15 for the year ended December 31, 2014. Adjusted EBITDA Excluding Infrequent Items was $7.3 million for the year ended December 31, 2015, compared with $5.4 million for the year ended December 31, 2014. Income from operations was $6.417 million against $4.615 million a year ago. Income before income taxes was $6.495 million against $4.573 million a year ago. Net cash provided by operating activities was $7.090 million against $8.463 million a year ago. Purchase of property and equipment was $0.152 million against $0.252 million a year ago.
Looking ahead, its outlook going into 2016 is for sustained revenue growth in line with what the company has achieved in 2015. The company will continue its investments in product development and sales and marketing initiatives with an expectation of achieving a net income as a percent of sales for 2016 that is consistent with the recent results.