Glowpoint (News - Alert), Inc. reported core revenue of $6.5 million for the first quarter of 2010, and 8.3 percent increase year-over-year and a 2.9 percent uptick from the fourth quarter of 2009.
The company, a carrier-grade provider of managed services for telepresence and video conferencing, affirmed its 2010 core revenue growth rate will continue to accelerate on a quarterly basis with continued improvement in operating margin in the second half of the year.
'The statistics associated with our current and new customer usage continues to validate industry adoption trends and projections,' said Joe Laezza (News - Alert), Glowpoint's president and co-CEO. 'Over the last year, we have seen a 20 percent increase in managed conferences, and over 90 percent increases in business-to-business calling using Glowpoint's exchange services and cloud-based infrastructure. This means our customers are using video more, and doing so beyond their business environments. Today, Glowpoint supports an average of over 5,000 conferences monthly and in the past 12 months more than 55,000 business-to-business calls traversed our infrastructure. Our continued growth is our primary focus as Glowpoint secures its position in this growing market.'
'We continue to prudently invest capital in order to maximize the longer term profitability of the Company. We are confident that these current expenditures will better position Glowpoint for an accelerating revenue growth rate in the second half of 2010 and beyond with improved operating leverage," said David Robinson, co-CEO of Glowpoint. "Given the enormous addressable global market opportunity, we are as confident as ever that this approach will build sustainable long term profitability and enhanced shareholder value.'
The Company will continue to keep the financial community and the industry up to date on material corporate developments and invites existing and potential shareholders to meet with management, following Glowpoint's annual meeting, which will be held on June 17 at the law offices of Gibbons P.C., One Gateway (News - Alert) Center 21st Floor, Newark, N.J. The Company will post its investor presentation on the corporate website (www.glowpoint.com) prior to the June 17 meeting.
Last month Glowpoint announced it was partnering with Utelogy, a provider of network and cloud hosted audio visual control and management solutions, to offer software based control panel to broadcasters for remotely controlling audio-visual devices and cameras, located in remote locations, viaGlowpoint's hosted broadcast services.
Alice Straight is a TMCnet editor. To read more of her articles, please visit her columnist page.Edited by Alice Straight