AVSR (ex nasdaq stock) leader in IT, .15 signicant upside due to recent news imo,directors insiders and affiliates own 68% of the company superlowfloat, easy .50-1.00 $ if they achieve new contracts due to new products launched, imo company pps totally undervalues their unique potential, they have great chance to establish their unique technology as standard
alert AVSR going huge 15-12g filer pps .15 down 50% from 3mo dma but business growing due to increasing revenues and decreasing operating costs and loss,several IT products launched in 2nd quarter 2012 with potentially significant benefits should reflect in 3rd and 4th quarter 2012 revs and profits, significant contract achieved in 2011 with CYTRIX and its subsidiaries, positive going concern therefore operativity secured through 2013, insiders own significant stock in the company with recent transactions (read sec form 4) settled around 0.25$ (almost twice current pps), imo 15-12g filing allows management buyout from insiders or merger and return to profitability in 2013, market cap is only 6mln $ enterprise value 14mln $ while their products and solutions worth much more, must read
-----------------------------------------------------------------
Avistar Communications Announces Filing of Form 15 to Suspend SEC Reporting Obligations Avistar Communications Corporation (www.avistar.com), a leader in unified visual communications solutions, today announced that it has voluntarily filed a Form 15 with the Securities and Exchange Commission (SEC). Upon such filing, the Company?s obligation to file certain reports with the SEC, including annual, quarterly, and current reports on Forms 10-K, 10-Q and Form 8-K, respectively, will be immediately suspended.
After thoughtful and deliberate consideration, the Company?s Board of Directors made this unanimous decision based upon a thorough review of the associated costs and benefits of being an SEC-registered company and the underlying regulatory reporting obligations. The Company believes that the incremental cost of compliance with SEC public reporting requirements does not provide a discernible benefit to the Company and its shareholders.
The Board believes that this step will enable the company to further refine Avistar?s focus and execution to:
Demonstrate continued revenue growth including developing recurring revenue streams.
Explore new and expanded strategic business opportunities that add to Avistar?s list of industry leading OEM/licensing partners.
Develop new strategic business investment partners to accelerate Avistar?s growth into adjacent market segments.
Enhance the Company?s long-term value by highlighting revenue growth, product value, the pipeline of opportunities and growth with respect to any future strategic decisions.
Bob Kirk, CEO of Avistar, said, ?We have deliberately chosen to file a Form 15 with the SEC to allow Avistar to focus on expanding our business without the associated costs of regulatory reporting and filing. Although the cost savings associated with this decision provide Avistar the opportunity to invest more deeply in our business execution strategy, there are larger benefits to the company, such as being more flexible in our communications strategy, like many of the competitors in our space, while building the long-term valuation of the company that better reflects our technologies, revenue growth, pipeline and market potential.?
Kirk concluded, ?As I?ve stated previously, our constant goal is to expand our revenues in what we believe to be a rapidly growing market, with a product portfolio that is world class. We?re confident that today?s step will help us fulfill this commitment and afford us more strategic options going forward.?
About Avistar Communications Corporation
Avistar delivers advanced and proven personal videoconferencing capabilities to technology partners and end users worldwide. Many leading technology firms such as Citrix, IBM, LifeSize, and Logitech choose Avistar?s modular software technology to power their unified communications solutions because it is a more flexible, efficient and smarter alternative. Avistar?s innovative software-only, fully virtualized and bandwidth managed technology solves major infrastructure and user challenges associated with enabling video communications between individual employees and/or teams throughout an organization. Companies across a wide variety of industries depend on Avistar?s desktop videoconferencing solutions for everyday business communications with deployments ranging in size from 30 to 35,000 users. To learn more about Avistar?s industrial, scalable and economical desktop videoconferencing technology, please visit www.avistar.com.
Source: Business Wire (July 26, 2012 - 7:00 AM EDT)
News by QuoteMedia
------------------------------------------------------------------
Avistar Communications Reports Financial Results for the First Quarter of 2012 Total revenue increased 80% over first quarter 2011; Company experiences growth within key market segments and delivers on critical technology partnerships
SAN MATEO, Calif.--(BUSINESS WIRE)--
Avistar Communications Corporation (www.avistar.com), a leader in unified visual communications solutions, today announced its financial results for the three months ended March 31, 2012.
Financial highlights included:
?Total revenue was $2.5 million for the quarter ended March 31, 2012, compared to $1.4 million for the same quarter in 2011, reflecting a substantial improvement in Product division (product and services, maintenance and support) revenue. The 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. (Citrix) discussed below.
?Operating expense (research and development, sales and marketing, and general and administrative) was $2.8 million for the first quarter of 2012, as compared to $3.4 million for the same quarter in 2011. The reduction was due to the reclassification of expenses from operating expense to cost of goods sold for services delivered to Citrix.
?Net loss for the first quarter of 2012 was $1.4 million, or $0.04 per basic and diluted share, compared to a net loss of $2.4 million, or $0.06 per basic and diluted share, for the first quarter of 2011.
?Cash and cash equivalents balance as of March 31, 2012 was $1.9 million. Cash used in operations during the three months ended March 31, 2012 was $0.8 million, compared to cash used in operations of $2.8 million for the three months ended March 31, 2011.
?Adjusted EBITDA loss (as described below) for the first quarter of 2012 was $1.1 million, compared to an Adjusted EBITDA loss of $2.1 million for the same quarter in 2011.
?Total debt balance was $9.0 million as of March 31, 2012, consisting of $6.0 million in outstanding borrowing under the Avistar?s revolving line of credit facility and $3.0 million in principal amount of a 4.5% Convertible Subordinated Note due March 2013.
?On September 22, 2011, Avistar entered into a license and OEM agreement with Citrix to provide software to enhance the delivery of audio and video solutions to Citrix?s end-users. The contract requires significant integration of Avistar?s products into Citrix?s solutions. Payments to Avistar totaling $8.7 million were scheduled to be made as the integration and maintenance services are delivered and payments totaling $6.0 million were received through March 31, 2012. For the quarter ended March 31, 2012, approximately $0.6 million in product revenue and $0.9 million in service revenue were recognized on a percentage of completion basis. The remaining $4.5 million of the payments are recorded in deferred revenue and customer deposits on the balance sheet as of March 31, 2012, out of which $3.8 million may be refundable until certain integration milestones are reached.
Bob Kirk, CEO of Avistar, said, ?Over the past few years, leading research firms have forecasted significant growth within the key markets on which Avistar focuses. Specifically, Frost & Sullivan has forecasted that the Unified Communications (UC) market would grow from 2.1 million users in 2009 to 33.6 million users in 2014. In addition, Gartner has forecasted that the virtual desktop infrastructure (VDI) market would grow from $1.5 billion in 2009 to $65.7 billion in 2014, with close to 75 million devices in use during this time. With Avistar?s strategy focused both on the opportunities within, and the intersection of, each of these market segments, we are seeing the quality and quantity of clients and partners that are emerging from these market segments increase. Our agreement with Citrix, our growing relationships with many other leading technology partners and the increased number of our enterprise clients are all evidence of this.?
Kirk concluded, ?With our markets expanding and our product portfolio increasing in its capabilities and value, we foresee Avistar growing as our markets continue to broaden and as our clients and partners leverage the capability of our products and technology. We are focused, committed and well-positioned to succeed as a leader within the unified and virtualized visual communications industry.?
Significant Q1.2012 developments include:
?Avistar received the 2011 Unified Communications Product of the Year Award from TMC for its Avistar C3 IntegratorTM solution, an important enabler to broad adoption of unified communications within the virtual desktop environment.
?Avistar achieved an important acceptance milestone in the Citrix software integration project during the first quarter of 2012.
?Avistar successfully installed several solution evaluations within Fortune 500 accounts and started a product deployment of the Avistar C3? platform within a US government agency.
About Avistar Communications Corporation
Avistar (OTC: AVSR.PK - News) delivers advanced and proven desktop videoconferencing capabilities to technology partners and end users worldwide. Many leading technology firms such as Citrix, IBM, LifeSize, and Logitech choose Avistar?s modular software technology to power their unified communications solutions because it is a more flexible, efficient and smarter alternative. Avistar?s innovative software-only, fully virtualized and bandwidth managed technology solves major infrastructure and user challenges associated with enabling video communications between individual employees and/or teams throughout an organization. Companies across a wide variety of industries depend on Avistar?s desktop videoconferencing solutions for everyday business communications with deployments ranging in size from 30 to 35,000 users. To learn more about Avistar?s industrial, scalable and economical desktop videoconferencing technology, please visit www.avistar.com.
Cautionary Note Regarding Forward-Looking Statements
The statements made in this press release that are not historical facts are "forward-looking statements." These forward-looking statements, include, but are not necessarily limited to, statements regarding market opportunities available to Avistar, future revenues and revenue growth, Avistar?s positioning and ability to capitalize on market developments, growth in Avistar?s target markets, Avistar?s future growth and success in its target markets, expansion of Avistar?s product portfolio, the impact of new products on Avistar?s business, growth in the business and the videoconferencing industry, and Avistar?s ability to capture market share in the videoconferencing industry. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties. Avistar cautions readers of this release that a number of important factors could cause actual future events and results to differ materially from those expressed in any such forward-looking statements. Such factors include, without limitation, Avistar?s lengthy sales cycle, volatility associated with Avistar?s sales and licensing activities, market acceptance of Avistar?s products, increased competition in the market for unified communications, technical challenges associated with product development and completion of Avistar?s deliverables to customers, ongoing technological developments and changing industry standards, the ability of Avistar?s distributors to sell Avistar?s products to end users, the capital markets for both debt and equity, and challenges associated with protecting and licensing Avistar?s intellectual property. These important factors and other factors that potentially could cause actual future results to differ materially from current expectations are described in Avistar?s filings with the Securities and Exchange Commission, including Avistar?s most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Readers of this release are referred to such filings. The forward-looking statements in this release are based upon information available to Avistar as of the date of the release, and Avistar assumes no obligations to update any such forward-looking statements.
Non-GAAP Financial Measures
This press release and the accompanying tables include a discussion of Adjusted EBITDA, excluding stock-based compensation expense, which is a non-GAAP financial measure provided as a complement to results provided in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The term "Adjusted EBITDA" refers to a financial measure that Avistar defines as earnings before net interest, income taxes, depreciation, and amortization, as further adjusted for stock-based compensation. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. In addition, this definition of Adjusted EBITDA may not be comparable to the definitions as reported by other companies. Avistar believes Adjusted EBITDA is relevant and useful information to its investors as this measure is an integral part of Avistar?s internal management reporting and planning process and is a primary measure used by Avistar?s management to evaluate the operating performance of the business. The components of Adjusted EBITDA include the key revenue and expense items and income from settlement and patent licensing for which Avistar?s operating managers are responsible and upon which Avistar evaluates their performance. Furthermore, Avistar intends to provide this non-GAAP financial measure as part of its future earnings releases and, therefore, the inclusion of this non-GAAP financial measure will provide consistency in Avistar?s financial reporting. A reconciliation of this non-GAAP measure to GAAP is provided in the accompanying tables.
AVISTAR COMMUNICATIONS CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended March 31, 2012 and 2011
(in thousands, except per share data)
Three Months Ended March 31,
2012 2011
(unaudited)
Revenue:
Product $ 853 $ 474
Patent licensing 100 106
Services, maintenance and support 1,543 810
Total revenue 2,496 1,390
Costs and expenses:
Cost of product revenue* 112 95
Cost of services, maintenance and support revenue* 964 273
Research and development* 1,116 1,443
Sales and marketing* 645 910
General and administrative* 1,049 1,061
Total costs and expenses 3,886 3,782
Loss from operations (1,390 ) (2,392 )
Other income (expense), net (51 ) (27 )
Loss before provision for income taxes (1,441 ) (2,419 )
Provision for income taxes 2 2
Net loss $ (1,443 ) $ (2,421 )
Net loss per share - basic and diluted $ (0.04 ) $ (0.06 )
Weighted average shares used in calculating
basic and diluted net loss per share 40,816 39,246
*Including stock-based compensation of:
Cost of products, services, maintenance
and support revenue $ 14 $ 9
Research and development 62 72
Sales and marketing 59 58
General and administrative 165 166
AVISTAR COMMUNICATIONS CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
as of March 31, 2012 and December 31, 2011
(in thousands, except share and per share data)
March 31, December 31,
2012 2011
(unaudited)
Assets:
Current assets:
Cash and cash equivalents $ 1,863 $ 2,722
Accounts receivable, net of allowance for doubtful accounts of $0 and $9 at March 31, 2012 and December 31, 2011, respectively 544 1,760
Inventories 16 16
Prepaid expenses and other current assets 469 352
Total current assets 2,892 4,850
Property and equipment, net 185 151
Other assets 182 162
Total assets $ 3,259 $ 5,163
Liabilities and Stockholders' Equity (Deficit):
Current liabilities:
Line of credit $ 6,000 $ 6,000
Related party convertible debt 3,000 -
Accounts payable 718 460
Deferred revenue and customer deposits 6,338 7,198
Accrued liabilities and other 989 1,037
Total current liabilities 17,045 14,695
Long-term liabilities:
Related party convertible debt - 3,000
Deferred revenue, non-current 224 360
Other long-term liabilities 45 45
Total liabilities 17,314 18,100
Stockholders' equity (deficit):
Common stock, $0.001 par value; 250,000,000 shares authorized at March 31, 2012 and December 31, 2011; 42,039,851
and 41,924,392 shares issued including treasury shares at March 31, 2012 and December 31, 2011, respectively 42 42
Less: treasury common stock, 1,182,875 shares at March 31, 2012 and December 31, 2011, at cost (53 ) (53 )
Additional paid-in-capital 105,484 105,159
Accumulated deficit (119,528 ) (118,085 )
Total stockholders' equity (deficit) (14,055 ) (12,937 )
Total liabilities and stockholders' equity (deficit) $ 3,259 $ 5,163
AVISTAR COMMUNICATIONS CORPORATION AND SUBSIDIARY
FINANCIAL RESULTS: RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
for the three months ended March 31, 2012 and 2011
(in thousands)
Reconciliation of Net Loss to Adjusted EBITDA
Three Months Ended March 31,
2012 2011
(unaudited)
Net loss $ (1,443 ) $ (2,421 )
Other (income)/ expense, net 51 27
Provision for income taxes 2 2
Depreciation 30 30
EBITDA (1,360 ) (2,362 )
Stock-based compensation expense 300 305
Adjusted EBITDA $ (1,060 ) $ (2,057 )
AVISTAR COMMUNICATIONS CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended March 31, 2012 and 2011
(in thousands)
Three Months Ended March 31,
2012 2011
(unaudited)
Cash Flows from Operating Activities:
Net loss $ (1,443 ) $ (2,421 )
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation 30 30
Compensation on equity awards issued to consultants and employees 300 305
Provision for doubtful accounts (9 ) 5
Changes in assets and liabilities:
Accounts receivable 1,225 (384 )
Inventories - 1
Prepaid expenses and other current assets (117 ) 97
Other assets (20 ) 55
Accounts payable 258 109
Deferred revenue and customer deposits (996 ) (535 )
Accrued liabilities and other (8 ) (68 )
Other long term liabilities - (14 )
Net cash used in operating activities (780 ) (2,820 )
Cash Flows from Investing Activities:
Purchase of property and equipment (64 ) (1 )
Net cash used in investing activities (64 ) (1 )
Cash Flows from Financing Activities:
Proceeds from line of credit - 1,000
Proceeds from related party convertible debt issuance - 3,000
Net proceeds from issuance of common stock 25 54
Taxes paid related to net share settlement of equity awards (40 ) -
Net cash provided by (used in) financing activities (15 ) 4,054
Net increase (decrease) in cash and cash equivalents (859 ) 1,233
Cash and cash equivalents, beginning of period 2,722 1,817
Cash and cash equivalents, end of period $ 1,863 $ 3,050
..Contact:.
.Avistar Communications Corporation
Elias MurrayMetzger, +1-650-525-3300
Chief Financial Officer
emurraymetzger@avistar.com
or
Conway Communications
Investor Relations
+1-617-244-9682
marytconway@comcast.net
__________________________________________________________________We create technology that provides the missing critical element in unified communications: bringing people in organizations face-to-face, through enhanced communications for true collaboration anytime, anyplace. Our latest product, Avistar C3?, draws on over a decade of market experience to deliver a single-click desktop videoconferencing and collaboration experience that moves business communications into a new era. Available as a stand-alone solution, or integrated with existing unified communications software from other vendors, Avistar C3? users gain an instant messaging-style ability to initiate video communications across and outside the enterprise. Patented bandwidth management enables thousands of users to access desktop videoconferencing, Voice over IP (VoIP) and streaming media without requiring substantial new network investment or impairing network performance. By integrating Avistar C3? tightly into the way they work, our customers can use our solutions to help reduce costs and improve productivity and communications within their enterprise and between enterprises, and to enhance their relationships with customers, suppliers and partners. Using Avistar C3? software and leveraging video, telephony and Internet networking standards, Avistar solutions are designed to be scalable, reliable, cost effective, easy to use, and capable of evolving with communications networks as bandwidth increases and as new standards and protocols emerge. We currently sell our system directly and indirectly to the small and medium sized business, or SMB, and globally distributed organizations, or Enterprise, markets comprising the Global 5000. Our objective is to establish our technology as the standard for networked visual unified communications and collaboration through limited direct sales, indirect channel sales/partnerships, and the licensing or sale of our technology and patents to others
__________________________________________________________________
Avistar Communications Exhibits at the Forrester Infrastructure & Operations Forum 2012 Date : 05/23/2012 @ 8:31AM
Source : Business Wire
Avistar Communications Corporation (www.avistar.com), a leader in unified visual communications solutions, announced today that it will be meeting with senior Forrester industry analysts, Fortune 500 executives and partners at the Forrester Infrastructure & Operations Forum 2012 (Booth #110) in Las Vegas, Nevada, from May 24-25, 2012.
With the recent introduction of the Avistar C3 Conference? for Microsoft Lync solution, innovations in supporting virtualized desktops running videoconferencing by using the Avistar C3 Integrator? solution and a push to synchronize unified communications products by leveraging the all-software Avistar C3? platform, Avistar will be discussing strategies and approaches to providing businesses with a more robust, scalable and economical personal videoconferencing experience with the forum?s participants and research analysts.
Forrester's Infrastructure & Operations Forum 2012 provides forum attendees with market trends, vendor landscapes, best practices, and data that help participants better understand:
?Global business priorities, industry trends, and technology innovations.
?How to leverage current business and technology assets in order to achieve business goals.
?What specific processes and technologies optimally support business growth, innovation, and customer experience in a cost-effective manner.
Stephen Epstein, CMO, Avistar, said, ?As businesses everywhere look for ways to improve their results, while attracting customers and responding to competitive pressures, unified visual communications and videoconferencing tools are quickly becoming an important business asset. The Forrester Infrastructure & Operations Forum is an important venue for Avistar as it allows us to reach thought leaders, such as industry analysts, clients, and partners in a productive and efficient way. This allows Avistar to build new and lasting relationships while the event participants quickly learn how Avistar solutions can help their businesses grow.?
To learn more about Avistar?s unified visual communications and videoconferencing solutions, visit Avistar at the Forrester Infrastructure & Operations Forum 2012, booth #110.
About Avistar Communications Corporation
Avistar (OTC: AVSR) delivers the industry?s most advanced and proven desktop videoconferencing capabilities to technology partners and end users worldwide. Many leading technology firms such as Citrix, IBM, LifeSize, and Logitech choose Avistar?s modular software technology to power their unified communications solutions because it is a more flexible, efficient and smarter alternative. Avistar?s innovative software-only, fully virtualized and bandwidth managed technology solves major infrastructure and user challenges associated with enabling video communications between individual employees and/or teams throughout an organization. Companies across a wide variety of industries depend on Avistar?s desktop videoconferencing solutions for everyday business communications with deployments ranging in size from 30 to 35,000 users. To learn more about Avistar?s industrial, scalable and economical desktop videoconferencing technology, please visit www.avistar.com.
__________________________________________________________________
Avistar Communications Announces Extended Multiparty Videoconferencing & Virtualization Support for the Avistar C3 Conference... Avistar Communications Corporation (www.avistar.com), a leader in unified visual communications solutions, announced today at Citrix Synergy? 2012 (Booth # 607) that it is demonstrating the Avistar C3 Conference? solution capable of delivering continuous presence multiparty videoconferencing, interoperability and virtualization features to Microsoft Lync users.
The Avistar C3 Conference? solution is designed to expand the capabilities of the Microsoft Lync unified communications (UC) platform, while enabling clients and partners to enhance their UC features within a virtualized server environment, such as Citrix XenServer?. As the solution is based entirely on an all-software design, it can be deployed using standards-based hardware, on premises or within a cloud environment.
Additionally, the Avistar solution supports both room-based H.264 and Microsoft Lync-based RT media streams. This is important as the Avistar C3 Conference solution enables clients and partners to design a scalable and economical interoperability strategy between their conference room video solutions and their RT endpoints. This is achieved by seamlessly and simultaneously processing media streams between H.264 and RT endpoints. In addition to these processing capabilities, the Avistar solution enhances the Lync user experience by providing continuous presence multiparty layouts within the client itself.
?Avistar has taken a smart approach to extending the multiparty and interoperability capabilities of Microsoft Lync,? said Ira M. Weinstein, a senior analyst and partner at Wainhouse Research and a 20-year veteran of the conferencing, collaboration and audio-visual industries. ?The solution is ideal for businesses that are looking to provide a more immersive continuous presence multiparty videoconferencing experience to their Lync users, while providing an economical, scalable and software-based RT/H.264 interoperability solution between their Lync platform and videoconferencing room deployments. It?s a win/win for the industry as the Avistar solution extends the benefits and value of the Microsoft Lync solution, while providing enterprise businesses better leveragability of their current videoconferencing and UC assets.?
Stephen Epstein, CMO, Avistar, said, ?The Microsoft Lync platform is emerging as a leading UC solution within our industry. As adoption of this UC solution grows rapidly, Avistar is very much focused on broadening our all-software platform to allow our clients and partners to fully leverage their UC and virtualization investments. Thus, it was an easy decision to extend the capabilities of the Avistar C3 Conference solution and provide the Microsoft Lync platform with additional capabilities and value.?
Epstein concluded, ?With the demonstration of these capabilities at Citrix Synergy and beta trials starting shortly thereafter, we expect to see this solution very well received in the market and especially within the Microsoft Lync client base. The solution will be generally available later this year as beta trials conclude and production deployments commence.?
To see Avistar?s virtual visual videoconferencing solutions running within a Citrix XenServer environment and on the Microsoft Lync platform, visit Avistar at Citrix Synergy 2012, booth # 607.
Microsoft and Lync are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries.
Citrix Synergy? and XenServer? are trademarks of Citrix Systems, Inc. and/or one or more of its subsidiaries, and may be registered in the United States Patent and Trademark Office and in other countries
Source: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78692639
padma lakshmi daughtry lakers trade ann arbor news ides of march elizabeth smart nick young
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.