GlobalSCAPE, Inc. (AMEX:GSB), a leading developer of secure information exchange solutions, yesterday announced financial results for its second quarter of fiscal year 2011, ending June 30, 2011. Revenue was $5.7 million for the second quarter of fiscal year 2011, an increase of 28 percent when compared with revenue of $4.5 million in the same quarter last year. Net income for the second quarter was $471,000, or $0.03 per diluted share, compared with net income of $134,000, or $0.01 per diluted share, in the same quarter last year, an increase of 251 percent. Cash grew to $12.6 million, representing a 38 percent increase from the second quarter of 2010 and a 14 percent improvement since the end of fiscal 2010.
?Our second quarter performance was very strong across the board,? said Jim Morris, GlobalSCAPE president and CEO. ?Revenue, earnings, and cash all increased significantly, so I regard this as a clean sweep,? Morris continued. ?While I do not expect these sorts of increases every quarter, I believe our second quarter performance provides continuing validation of our strategic direction and reinforces our prior expectations for another record-setting year.?
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