PORT ORANGE, Fla., May 27, 2015 /PRNewswire/ -- Thinspace Technology
Inc. (OTCQB: THNS) ("Thinspace or the "Company"), a global provider
of reliable, scalable and affordable application delivery,
virtualization, and cloud client technology to public and private
sector companies and organizations of all sizes, today announced
its first quarter 2015 financial and operational results.
First quarter 2015 revenue increased to $0.790 million up modestly from $0.783 million in the comparable 2014
period. The revenue this first quarter is consistent with the
Company's previous 2014 Q1 performance. Chris Bautista, Chief Executive Officer of
Thinspace Technology Inc., commented, "We are pleased to report our
first quarter revenue showed improvement over last year's as we
have been focused on developing our next generation product
offering. We feel this new product development will set us up
for stronger revenue and higher margins going forward."
Thinspace continues to focus efforts on integrating its Virtual
Desktop Infrastructure (VDI) and Remote Desktop Session Host (RDSH)
product offering which is on track for release in Q3 2015.
This product release will position the Company for higher gross
profit margins and meet the demands of its customer base.
Additionally, the Company will provide multiple licensing
strategies, increasing go-to-market reach and enhancing its channel
network.
For more information regarding Thinspace Technology's financial
performance during the three months ended March 31, 2015, please refer to the Quarterly
Report on Form 10-Q filed with the Securities and Exchange
Commission on May 15, 2015.
Thinspace Technology operates in high growth B2B markets of
application delivery, virtualization and cloud client technology
that make it easier, more flexible and more affordable for
companies and IT Managers to conduct and streamline computing
operations securely from any server - anywhere in the world.
IDC predicts that 2014 is the year where desktop virtualization is
going to become main stream given its advantages currently in
demand: low cost, flexibility, secure and green. According to
Gartner Research, ABI Research, and IDC, the global desktop
virtualization market is expected to surpass $21 billion in
2018.
About Thinspace Technology Inc.
Thinspace Technology Inc. is a global provider of reliable,
scalable and affordable application delivery, virtualization, and
cloud client technology to public and private sector companies and
organizations of all sizes. Operating on the belief that
application delivery and cloud computing solutions should be
flexible, dynamic and above all, simple to use, Thinspace
understands and is passionate about solving customer problems
affordably in the most efficient and effective manner possible. The
Company's list of private and public sector customers include NASA,
Deutsche Bank, Toyota, as well as, NHS, local councils,
universities, schools, and housing associations. With over 5,000
enterprise customers worldwide, Thinspace is recognized as a
leading player in application delivery, virtualization, and cloud
technology markets. The Company is headquartered in Port Orange, Florida with international
offices in U.K., Canada, and
India. For more information on the
Company, please visit www.thinspace.com.
Forward-Looking Statements:
This press release includes forward-looking statements
concerning the future performance of our business, its operations
and its financial performance and condition, and also includes
selected operating results presented without the context of
accompanying financial results. These forward-looking statements
include, among others, statements with respect to our objectives
and strategies to achieve those objectives, as well as statements
with respect to our beliefs, plans, expectations, anticipations,
estimates or intentions. These forward-looking statements are based
on our current expectations. We caution that all forward-looking
information is inherently uncertain and actual results may differ
materially from the assumptions, estimates or expectations
reflected or contained in the forward-looking information, and that
actual future performance will be affected by a number of factors,
including economic conditions, technological change, regulatory
change and competitive factors, many of which are beyond our
control. Therefore, future events and results may vary
significantly from what we currently foresee. We are under no
obligation (and we expressly disclaim any such obligation) to
update or alter the forward-looking statements whether as a result
of new information, future events or otherwise.
The Company is subject to the risks and uncertainties
described in its filings with the Securities and Exchange
Commission, including the section entitled "Risk Factors" in its
Annual Report on Form 10-K for the year ended December 31, 2014.
Investor Relations
Email: lauren@choosewindmill.com
Phone: 855-371-3936
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SOURCE Thinspace Technology Inc.