Avistar Communications Corp. Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2012
April 19, 2012 at 05:03 pm EDT
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Avistar Communications Corp. reported consolidated unaudited earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported total revenue of $2,496,000 compared with $1,390,000 for the same period last year. Loss from operations was $1,390,000 compared with $2,392,000 for the same period last year. Loss before provision for income taxes was $1,441,000 compared with $2,419,000 for the same period last year. Net loss was $1,443,000 or $0.04 basic and diluted per share compared with $2,421,000 or $0.06 basic and diluted per share for the same period last year. EBITDA was $1,360,000 compared with $2,362,000 for the same period last year. Adjusted EBITDA was $1,060,000 compared with $2,057,000 for the same period last year. Net cash used in operating activities was $780,000 compared with $2,820,000 for the same period last year. Purchase of property and equipment was $64,000 compared with $1,000 for the same period last year. Total revenue increase is primarily due to $1.5 million in product and service revenue from the previously-announced license and OEM agreement with Citrix Systems Inc.
Avistar Communications Corporation is engaged in providing all-software videoconferencing products. The Company's product line includes Avistar C3 Communicator, Avistar C3 Unified, Avistar C3 Media Engine, Avistar C3 Conference, Avistar C3 Call Control, Avistar C3 Connect, Avistar C3 Tunnel, Avistar C3 Command and Avistar C3 Integrator. It provides solutions, such as bandwidth management, communications-enabled business processes (CEBP), cloud, enterprise endpoints, firewall traversal, gateway, multiparty control unit (MCU) bridge, session initiation protocol (SIP) registrar, unified communications and virtualization. It also provides collaboration pattern analysis, client build release, and network management and support. It serves education, entertainment and media, finance, healthcare and manufacturing industries. The Avistar C3 bandwidth management enables users to access desktop videoconferencing, Voice over Internet Protocol (VoIP) and streaming media.