ViewCast.com Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Earnings Guidance for the Year 2013
For the year ended December 31, 2012, revenues were $12.1 million compared to $14.1 million for 2011. Operating loss was $1.2 million against $1.2 million a year ago. For 2012, net loss applicable to common shareholders was $1.5 million, or $0.02 per basic and diluted share. Due to the accounting treatment for the preferred stock redemption during the 2011, the net income applicable to common shareholders benefitted by $5.6 million, which together with an adjustment of $282,000 for stated preferred stock dividends resulted in net income applicable to common shareholders of $2.3 million, or $0.05 per basic and diluted share, for the year ended December 31, 2011. LBITDA for 2012 was $0.97 million compared to $2.1 million for 2011. Net loss from continuing operations was $1,360,000 against $1,393,000 a year ago.
The company expects to continue to keep costs under control, work to increase margins, introduce new Osprey and Niagara products throughout the year, and build to a very strong close for 2013. As Niagara products and Osprey cards build traction throughout the year, the company remains optimistic about achieving profitability.