PLANO, Texas, March 31, 2008 /PRNewswire-FirstCall via COMTEX/ -- ViewCast Corporation (OTC Bulletin Board: VCST), a outstanding developer of arms and software for encoding existent and on-demand audio and video happiness for streaming over Internet, corporate and versatile networks, today reported plexus gain on higher revenues for fourth pity and twelve months ended December 31, 2007. Fourth Quarter Financial Results Revenues for fourth-quarter 2007 were a album $4.5 million, compared to $4.2 million in fourth-quarter 2006, with higher sales of Niagara streaming encoding systems being the immediate contributor. Gross value rose to $3.0 million, or 66 percent of revenues, from $2.3 million, or 55 percent of revenues, in fourth-quarter 2006.
ViewCast President and Chief Operating Officer Dave Stoner said, "During fourth shelter we byword higher sales that indicate the clobber of stronger advise sales and marketing that we established during the behind district of the year. In addition, the interminable thing toward breathing and on-demand streaming of an increasing selection of programming and other gratification is continuing to keenness outcry for our Niagara encoding systems." "Gross line for fourth-quarter 2007 improved, which is the end of not only reduced manufacturing costs amongst our yield lines but also supplementary policies implemented on October 1, 2007, that brought pricing more in track with the market," Stoner added. "Based on our function method and enterprise trends and outlook, we abide that the levels of disgusting lip and operating expertness we achieved during the zone should be sustainable in to be to come periods. Therefore, we know that fourth-quarter 2007 represents an operational foot on which we can establish sales drive in 2008 and further benefit bottom-line performance.
" Operating expenses for fourth-quarter 2007 were $2.1 million, compared to $2.0 for fourth-quarter 2006. Operating revenue improved to $899,000 from $320,000 for fourth-quarter 2006.
Net takings for fourth-quarter 2007 rose to $787,000 compared to nett profit of $141,000 in the fourth ninety days of 2006. After preferred dividends, the fourth-quarter 2007 ensnare return per appropriate was $0.01 per allotment on a fully diluted heart compared to a make disappearance of less than a penny, or $(0.00) per share, in the fourth locality of 2006.
EBITDA (earnings before interest, taxes, depreciation, amortization and other income/expense items) for fourth three months 2007 was $1.0 million, or 22 percent of revenue, compared to $461,000, or 11 percent of revenue, in fourth-quarter 2006. EBITDA is a non-GAAP portion that ViewCast running believes can be productive in assessing the Company's overall play and considers as an gauge of operating adeptness and take quality. The Company suggests that EBITDA be viewed in conjunction with the Company's reported fiscal results or other monetary facts set in accordance with GAAP.
Fiscal Year 2007 Results Revenues for 2007 grew more than 14 percent to a write $16.0 million, from $14.0 million in 2006, particularly from higher sales of Niagara encoders. Gross gain was $9.6 million, or 60 percent of revenues, compared to $7.7 million, or 55 percent of revenues, for 2006.
Higher glaring make a killing in 2007 was mainly attributable to higher product levels, aright in merchandise pricing and progressive manufacturing get control. Operating expenses for 2007 were $8.7 million, compared to $8.5 million for 2006.
Operating receipts improved by more than $1.7 million to $909,000 from an operating wastage of $847,000 in 2006. Net proceeds for 2007 improved by $2.6 million to $843,000 compared to a conclusive ruin of $1.8 million for the twelve months of 2006.
After preferred dividends, the pecuniary year 2007 take-home income per percentage was less than a penny, or $0.00 per allowance on a fully diluted basis, compared to a sieve set-back per pay out of $(0.10) for the twelve months of 2006. ViewCast Chief Financial Officer Laurie Latham said, "Our higher sales, improved heavy c and reduced importance detriment during 2007 were significant factors in improved get fruit for the year.
In addition, we maintained professed addition in our operating expenses during 2007. We intercept increased investment in sales, marketing and engineering during 2008 to supply to our intumescence capabilities." EBITDA for 2007 improved to $1.3 million or 8 percent of take from disputing EBITDA in 2006 of $509,000.
The growing be biased to endure and on-demand viewing over the Internet is driving requisition for encoding equipment by broadcasters, enterprises and thesis expression networks. That ask is being reflected in ViewCast's upshot sales, which is shifting toward its Niagara policy of fully integrated encoding systems that incorporate front-end nab and back-end command software. According to Stoner, those factors are characteristics of a maturing market, where exact is for complete, cost-effective skill rather than budding technology to starkly augment a function. ViewCast marketing and sales conduct has distinguished that sales are being motivated by proprietorship considerations more so than technology per se, the insinuation being that investing in enabling metal goods for streaming over the Internet is increasingly suitable an formidable corner of companies' firm plans.
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