Posts Tagged ‘David Stoner’

Revenue Down, Losses Up at ViewCast in 2011

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Apr 02 2012

ViewCast reported that its revenue for the fourth quarter of 2011 was $3.4m, down 28% versus the same period a year ago. The company attributed the decline in sales to lower orders from its principal OEM customer, and general market conditions.

The net loss for the fourth quarter was $936,000, compared to net income of $142,000 during the same period a year ago.  On a non-GAAP basis, the EBITDA loss for quarter was $721,000, versus $383,000 of positive EBITDA last year.

Despite a 13% reduction in operating expense, the company’s operating income was just $21,000, down substantially from $435,000 last year.

 

Full Year 2011 Results:

Revenue for full year 2011 was $14.1m, a decline of 11% versus the full year 2010.  On an operating basis the company posted a loss of $1.2m versus an operating income of $361,000 in 2010.

The net loss for 2011 was $3m, significantly worse than the net loss of $600,000 posted in 2010. On a non-GAAP basis, ViewCast posted an EBITDA loss of $2.1m versus positive EBITDA of $429,000 in 2010.

 

Company Restructuring

ViewCast said it restructured its commercial management towards the end of 20111, including the replacement of long-time CEO David Stoner with John Hammock, the appointment of Mike Galli as VP marketing and the appointment of Howard Barouxis as VP sales, and the addition of two new directors to its board.  The company also sold the assets of its VMp product line Genus Technologies, who will pay ViewCast an earn-out on certain future revenue streams.

New CEO Hammock said the company “aggressively restructured the organization and its cost structure to align with our current revenue and to put the right people in place to succeed commercially and enhance shareholder value.”

 

Guidance

ViewCast says it expects its revenue to be relatively stable, with expenses in alignment for the first quarter while it continues to develop new products.  Once new products are introduced, the company expects to “begin a long and steady [revenue] ramp,” which it believes will have a “positive impact on operating results and the bottom line.”

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Related Content:

Press Release: ViewCast Reports 2011 Fourth Quarter, Year-End Results

Previous Year: ViewCast Revenue Jumps 25 Percent in 2010, Posts Net Profit in Q4

ViewCast Replaces CEO

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ViewCast Replaces CEO

Broadcast technology vendor financials | Posted by Joe Zaller
Jul 13 2011

In a move the company said will “better prepare it for a new era of commercial focus, execution and growth in its various markets,” Viewcast announced that Dave Stoner, the company’s CEO, has resigned from the company effective July 12, 2011 in order to pursue other interests.

Stoner will be replaced by John Hammock, who was promoted to president and COO; and George Platt, who was named executive chairman.

Hammock, who joined ViewCast in 2010 as vice president of sales, worked previously for Kasenna, Voxpath, and Corvis in a variety of sales-related roles.

Platt has been a director of the company since September 1999 and currently serves as Chairman of the Board. He  joined ViewCast as Chief Executive Officer and President in September 1999, retiring from the CEO position July 2008. Prior to ViewCast, from 1991 through 1999, Platt was president and CEO of by Intecom, Inc., a Dallas-based provider of multimedia telecommunications products and
services.

“We are grateful for Dave Stoner’s many years of service to ViewCast and its shareholders,” said Platt. “His contributions to operations, product development and management have all been cornerstones of the Company’s success and its survival though a variety of economic and marketplace challenges. We wish him only the best in his future endeavors.”

 

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Related Content:

Press Release: ViewCast Announces Key Management Changes

You can learn more about ViewCast’s business and strategy here: ViewCast Corporate Presentation

ViewCast Reports Higher Losses in First Quarter of 2011

ViewCast Revenue Jumps 25 Percent in 2010, Posts Net Profit in Q4

ViewCast Reports 2010 First Quarter Results

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ViewCast Reports Higher Losses in First Quarter of 2011

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 18 2011

ViewCast reported that its revenue in the first quarter of 2011 was $3.71m, up slightly from $3.68m during the same period a year ago, and down from the previous quarter’s revenue of $5m.

Net loss for the quarter was $791,000 compared to a loss of $311,000 in the first quarter 2010, and net income of $142,000 during the fourth quarter of 2010.

On an operating basis, the company lost $750,000 in the quarter, compared to an operating loss of $284,000 last year.  The company said its operating expenses increased due to increased investments in new sales and marketing infrastructure and initiatives both domestically and overseas.

Company president and CEO Dave Stoner said, “Following a very strong fourth quarter and full year 2010, we saw typical seasonal pullback in the first part of the 2011 first quarter that was deeper than we had anticipated. We also saw sales flow and order activity pick up significantly in both March and April, giving us good momentum into Q2. Our sales pipeline across our product portfolio continues to be healthy and we are seeing both existing and new customers finding new and innovative uses for our digital encoders as they look for look for new ways to monetize their digital media assets. Our recently expanded sales force and distribution channels worldwide are already producing new opportunities and new business and we continue to anticipate a year of steady growth in 2011.”

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Related Content:
Press release: ViewCast Reports 2011 First Quarter Results

ViewCast Revenue Jumps 25 Percent in 2010, Posts Net Profit in Q4

ViewCast Reports 2010 First Quarter Results

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ViewCast Revenue Jumps 25 Percent in 2010, Posts Net Profit in Q4

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Apr 05 2011

ViewCast announced that it revenue in the fourth quarter of 2010 was $5m, an increase of 44% versus the same period a year ago,  and an increase of 9% versus the previous quarter.

Net income for the fourth quarter 2010 was $142,000 compared to a loss of $301,000 in the fourth quarter 2009, and net income of $8,000 last quarter.  Operating income for the quarter was $196,000, an improvement on the loss of $275,000 in Q4 2009, and operating income of $51,000 last quarter.  

Revenues for the year ended December 31, 2010 was $17.3m, an increase of 25 percent versus the full year of 2009. Net loss for 2010 was $551,000 compared to a net loss of $2.8 million in 2009. EBITDA for 2010 was $429,000, compared to $(1.9) million in 2009.

In an upbeat statement, company president and CEO Dave Stoner said the company’s turnaround is progressing.  “Our sales pipeline across our product portfolio continues to be healthy and we are seeing customers returning to more normal patterns of investment as they look for new ways to monetize their digital media assets.   We look forward to driving record levels of revenue in 2011.”

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Related Content:

You can read the ViewCast Q4 and full year 2010 earnings press release here.

Information about ViewCast’s Q3 2010 results is here.

ViewCast’s Q4 and full year 2009 results are here.

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ViewCast Claims Strong Growth in Q4 2010, Provides Positive Outlook for 2011

Broadcaster Financial Results | Posted by Joe Zaller
Mar 04 2011

ViewCast which returned to profitability in the third quarter of 2010, announced it had a strong Q4 and expects to “continue significant growth” in 2011.

No financial details were released as part of the announcement.

Company president and CEO Dave Stoner said that he believes the company is “on track to enjoy the best year for digital media product sales in ViewCast’s history.”

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.”  

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 You can read the full ViewCast announcement here.

Information about ViewCast’s Q3 2010 results is here.

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ViewCast Turns a Profit in Q3 as Revenue Jumps 54%

Broadcaster Financial Results, Quarterly Results | Posted by Joe Zaller
Nov 15 2010

ViewCast said today that its revenue for the third quarter of 2010 was $4.5m, an increase of 54% versus the same period last year and an increase of 10% versus the previous quarter.  The company said this is its fourth consecutive quarter of revenue improvement.

The company returned to profitability in the quarter, eking out net income of $8,000 compared to net loss of $782,000 in the same period a year ago, and a loss of $701,000 last quarter. Operating income for the quarter was $51,000, an improvement on the operating loss of $743,000 for the year-earlier period. 

Year-to-date, the company’s revenue was $12.4m, an increase of 18% versus the first nine months of 2009. Net loss for the first nine months of 2010 was $693,000 compared to a net loss of $2.5 million in the first nine months of 2009.

Company president & CEO Dave Stoner said that the company’s improving performance “reflects a company not only emerging from a challenging economic period, but hitting on all cylinders as we finish the year and enter 2011.”

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You can read the full ViewCast Q3 earnings announcement here.

A write-up of ViewCast’s Q2 results can be found here.

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ViewCast Q2 Revenues Up, Losses Down

broadcast technology market research, Broadcast technology vendor financials | Posted by Joe Zaller
Aug 16 2010

ViewCast reported its Q2 and first half 2010 results today.

For the second quarter the company posted a net loss of $390K, which is an improvement on previous results.  Revenue for the second quarter was up 26% y/y and 13% q/q to $4.14m.

For the first six months of the year, Viewcast made a net loss of $701K, an improvement on the net losss of $1.7m during the first six months of 2009.  Revenue for the first half of 2010 was up 4% to $7.8m. EBITDA for six-months 2010 was $(195K), compared to $(1.3m) in the first six months of 2009.

In its earnings press release, the company said that it had introduced new products, joined the WebM project, and landed several new customers

Company President and CEO Dave Stoner issued an upbeat statement, saying: “Results from the second quarter – especially the interest from new and significant corporate customers and potential resellers – has the organization energized and working hard to meet demand.  We believe the work we did during the economic downturn of 2009, including product development and cost cutting, has positioned us for significant growth and improved financial results.”

You can read the full ViewCast Q2 earnings press release here.

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