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.”
Press Release: ViewCast Reports 2012 Second Quarter, Six-Month Results
Previous Quarter: ViewCast Trims Losses on Flat Revenue in Q1 2012
© Devoncroft Partners. All Rights Reserved.