THNS reports Q2 revenue of $2.59M
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Thinspace Technology Inc. (THNS) ~~~~~~~~~~~~~~~~~~~~~~~~~~
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Thinspace Technology Inc. (THNS) 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. THNS`s list of private and public sector customers include NASA, PWC, Deutsche Bank, Toyota, as well as, NHS, local councils, universities, schools, and housing associations, according to a Nov. 5 press release.
The company 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,” the Nov. 5 press release stated.
Q2 2014 revenue increases 871 percent over same period last year Earlier this year, THNS reported that net revenue for the second quarter of 2014 was $2.593M, representing an increase of 871 percent from $0.267M in the comparable second quarter of 2013, and an increase of 230 percent from $0.784M recorded in the first quarter of 2014.
“We`re pleased with the outcome of the second quarter 2014 which was marked by strong revenue growth and steady margins,” said THNS`s CEO Chris Bautista in the Aug. 18 press release. “This quarter`s revenue jump was due to the [company`s] increased designing capabilities and delivery of bespoke desktop virtualization solutions to existing customers. We delivered a significant large-scale project with multiple sites for a public sector organization and are optimistic that we will see more of these types of engagements going forward.” THNS expands next generation product development team and upgrades facility Last month, THNS announced that in preparation for next generation innovation and product development growth, the company is expanding its engineering capabilities, hiring new engineers and staff, and upgrading to a larger development facility located in the Baner Infotech area of Pune, India.
Considered “Oxford of the East,” Pune is equipped with over a hundred education facilities and universities attracting IT talent from all over the world, an Oct.
7 press release stated. The Baner area of Pune, specifically, is known to be its center of IT, with nearby Mumbai attracting new infrastructure investment. Thinspace`s new development center, idyllically positioned adjacent to Rajiv Gandhi Infotech Park, one of the most famous IT hubs outside of Bangalore, covers approximately 2500 square feet and can seat up to 50 engineers, up from the current 20, reflecting a capacity increase over 100%.
“With a large pool of talent and good mix of experienced engineers combined with fresh college graduates, Pune is a great location to hire personnel and run technology focused engineering teams like ours,” said THNS`s CTO Vijender Yadav in the Oct.
7 press release. “We are looking at doubling our team from 20 to 40 in next couple of months in order to better accelerate product development and improve employee satisfaction. The new facility is currently ready and operational.” “Not only does this expansion to a larger center and increase in engineers demonstrate our continued path to growth, but also it reflects our continued commitment and focus on providing customers with only the best in next generation product development and innovation,” Bautista said in the Oct. 7 press release.
THNS announces new partnership with telecommunications provider Last week, THNS announced a new partnership with managed services and telecommunications provider, Fidalia Networks, to provide in-demand desktop virtualization and cloud service solutions to their business clients in Canada.
Based out of Mississauga, Fidalia Networks has been providing innovative information technology solutions to businesses of all sizes across Canada for nearly ten years, a Nov. 3 press release stated. As a leading-edge managed service provider with a robust and highly-advanced data center, Fidalia is an ideal provider to partner with and host Thinspace desktop virtualization solutions. With Thinspace desktop virtualization, Fidalia can provision desktops in the cloud, on-demand and elastically for their business clients utilizing THNS`s complete suite of products and solutions.
“We`re pleased to enter into this synergistic partnership with Fidalia where they provide the cloud infrastructure that Thinspace desktop virtualization solutions will run on,” Bautista said in the Nov. 3 press release. “With desktop virtualization now included in their portfolio, Fidalia is a more comprehensive and end-to-end managed service provider, and is better able to capitalize on Canada`s growing demand for virtual desktop solutions.” To learn more about THNS, visit: http://www.thinspace.com Disclaimer:
This is a paid profile. Do not base any investment decision upon any of the materials found in this publication or on our Web site.
The information contained on our website or in any of our newsletters is for informational purposes only, and is not intended to be advice, nor a recommendation and/or guidance for investment decisions. In preparing our publications, we rely upon publicly available information including press releases which we believe to be reliable, but have not verified. We are engaged in the business of profiling companies for monetary compensation.
All direct and third party compensation received has been disclosed in our newsletter and/or our website in accordance with section 1 7 ( b ) of the Sec urities Ac t of 1 9 33.
Compensation: We expect to receive up to five thousand dollars from a third party, Galaxy, LLC, for a two-day e-mail campaign for Thinspace Technology, Inc. We were previously compensated a total of nine thousand dollars from a third party, Galaxy LLC, for two separate e-mail campaigns for Thinspace Technology, which have expired.
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