Posts Tagged ‘John Hammock’

Viewcast Evaluating Strategic Alternatives

Broadcast technology vendor financials, Broadcast Vendor M&A | Posted by Joe Zaller
Aug 01 2013

ViewCast said it has retained Silverwood Partners to help it evaluate strategic alternatives for growth.

Silverwood, a boutique investment bank specializing in digital media, has been involved in a number of broadcast industry M&A deals and has strong industry ties.

This is the first publicly announced strategic move by new CEO David Brandenburg, who replaced John Hammock in June 2013. Brandenburg, has been a Viewcast investor and board member since 2008, and was named chairman in April 2013.

Viewcast, which provides media streaming solutions, has struggled to achieve profitability over the past several years.

For the full year 2012, Viewcast posted a net loss of $1.5m, compared to a net loss of $3m in 2011.  The company’s 2012 revenue was $12.1m, down 14% from $14.1m in 2011.

In the first quarter of 2013, Viewcast posted a net loss of $458,000 in the first quarter of 2013 on revenue of $2.4m

“ViewCast is a market leader in the development of industry-leading solutions for the capture and streaming of video over enterprise, broadband and mobile networks,” said Brandenburg.  “In order to take full advantage of the market opportunity and maximize our business potential, we plan to review the full range of strategic alternatives that better position the company for growth.”

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Related Content:

Press Release: ViewCast Retains Investment Banking Firm Silverwood Partners, LLC

Press Release: Technology and Communications Industry Veteran David Brandenburg Named CEO at ViewCast

Press Release: ViewCast Reports 2013 First Quarter Results

Press Release: ViewCast Reports 2012 Fourth Quarter, Year-End Results

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ViewCast Reports Revenue Decline of 26 Percent for Q2 2012

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
Aug 15 2012

ViewCast reported that its sales in the second quarter of 2012 were $2.9m, down 26% versus the same period a year ago, and down 15% versus the previous quarter.

Company CEO John Hammock attributed the revenue decline to macro economic factors in the US and Europe.

The net loss for the second quarter 2012 was $582,000 compared to net loss of $378,000 last year and a net loss of $405,000 last quarter.

On an operating basis, the company posted a loss of $550,000 in the second quarter of 2012, versus an operating loss of $59,000 last year, and an operating loss of $275,000 last quarter. Operating expenses for the second quarter 2012 were $2.4m compared to $2.6m last year, and $2.4m last quarter.

The EBITDA loss for the second quarter was $455,000, compared to an EBITDA loss of $142,000 last year, and an EBITDA loss of $234,000 last quarter.

 

1H 2011 Results:

For the first six months of 2012, ViewCast had revenue of $6.3m, a decrease of 15.4% versus the first half of 2011. 

The company’s net loss for the six-months 2012 was $987,000, compared to a net loss of $1.2m last year.  The operating loss for the first six months of the year was $825,000, compared an operating loss of $701,000 last year. Operating expenses for the six-months 2012 were $4.8m, compared to $5.2m for the first six-months of 2011.

The EBITDA loss for the first half of 2012 was $690,000, compared to and EBITDA loss of $720,000 for the first six-months of 2011.

 

Guidance for remainder of 2012

ViewCast said it anticipates revenues to stay relatively stable for the third quarter.

ViewCast CFO Laurie Latham said that the company has been have been successful in reducing its cost structure through a restructuring process, resulting in a lower break-even point. “The result of that activity provides a more modest cost structure going forward; however we are still working to achieve better capitalization, find efficiencies and eliminate any waste in the operations.”

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Related Content:

Press Release: ViewCast Reports 2012 Second Quarter, Six-Month Results

Previous Quarter: ViewCast Trims Losses on Flat Revenue in Q1 2012

Previous Year: ViewCast Posts Loss for Q2 and 1H 2011 on Slightly Higher Revenues   

ViewCast Replaces CEO

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ViewCast Trims Losses on Flat Revenue in Q1 2012

Broadcast technology vendor financials, Quarterly Results | Posted by Joe Zaller
May 15 2012

ViewCast reported that its sales in the first quarter of 2012 were $3.4m, up slightly from the same period a year ago, and flat with the previous quarter.

The net loss for the first quarter 2012 was $405,000 compared to net loss of $791,000 last year and a net loss of $936,000 last quarter.

On an operating basis, the company last $275,000 in the quarter, versus an operating loss of $417,000 last year.  Operating expenses for the first quarter 2012 were $2.4m compared to $2.6m last year.

The EBITDA loss for the quarter was $234,000, compared to an EBITDA loss of $578,000 last year, and an EBITDA loss of $721,000 last quarter.

 

Guidance for remainder of 2012

ViewCast said it anticipates revenues to stay relatively stable for the second quarter. As new product categories are added beginning at the end of the second quarter and new markets entered throughout the remainder of the year, the company anticipates that revenues will begin a long and steady upward ramp. Because the Company now operates at a lower break-even point, ViewCast believes that incremental revenues will have a greater positive impact on operating results and the bottom line.

 

New ViewCast CEO John Hammock said, “Since I took over as CEO, we have undertaken the decisive actions, necessary changes and exciting advances that will combine to move the Company to the next level. In less than six months, we have upgraded the entire commercial team, enhanced our development productivity and lowered overall quarterly operating expenses by $490,000, or 17 percent, compared to the prior year quarter.”

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Related Content:

Press Release: ViewCast Reports 2012 First Quarter Results

Previous Quarter: Revenue Down, Losses Up at ViewCast in 2011

Previous Year: ViewCast Reports Higher Losses in First Quarter of 2011

ViewCast Replaces CEO

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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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