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Glowpoint Forecasts Record Second Quarter Revenue

July 19, 2009 | Chris Payatagool

glowpoint_160x53px.jpgExpects top line quarterly revenue of nearly $7 million

HILLSIDE, N.J.--Glowpoint, Inc. (OTCBB: GLOW), a leading provider of advanced video communication solutions, today announced that it expects to report top line quarterly revenue of approximately $7 million in the second quarter of 2009, which would be the highest single quarter in the Company's history. Preliminary results also indicate continued margin and operating income improvement that were ahead of the Company's previous estimates. Detailed second quarter financial results are expected to be reported during the week of August 10, 2009, at which time Glowpoint management will also host a conference call. Specific call details will be announced in the coming weeks.

Glowpoint President and Co-CEO Joe Laezza said, "The value of video conferencing and telepresence has become clear to business leaders around the world who are looking to remain relevant and profitable during the current evolution of business-to-business (b2b) communication. This evolution brings increased demand and drives continued innovation in our products and services." Glowpoint's b2b video communications exchange, known as the Telepresence interExchange Network (TEN), enables members to participate in a global video community, facilitating closer business relationships with clients, partners, and colleagues through the use of video communications, while also dramatically reducing travel-related costs. Laezza adds, "Through innovation, expanded distribution, and go to market capabilities, we continue to forge a clear path to capitalize on the growing demand for b2b video capabilities, as well as for telepresence and video conferencing VNOC managed services."

Growth in Glowpoint's TEN and VNOC managed video services, delivered through key channel relationships, were cited as key contributing factors to Glowpoint's forecasted record second quarter revenue and to its largest and most active sales pipeline to date. Other factors cited include:

    * Increased demand for video communications from global companies looking to drive down operating and travel costs;
    * Growing interest and popularity of telepresence and video conferencing services for improved global collaboration efforts;
    * Improved quality of telepresence, and video overall, with the increased availability of hi-definition service; and
    * Continued acceptance and b2b interconnect availability of video.

While other companies and industries may be contracting due to the current economic environment, the video industry as a whole is actually realizing increased demand and growth. Earlier this year, Gartner, a leading information technology research and advisory company, predicted that current economic conditions are set to drive uptake of video telepresence in the next three years. The analyst firm predicted that high-definition-based video meeting solutions will replace 2.1 million airline seats annually, costing the travel and hospitality industry US$3.5 billion per year. (Source: http://www.gartner.com/it/page.jsp?id=876512). In light of this trend, Glowpoint is actively growing its business, adding talented personnel, and strengthening its operational systems and processes to help it meet the increasing demand and rapid adoption of high-definition video communications solutions.

About Glowpoint

Glowpoint, Inc. (OTCBB: GLOW) is a leading provider of advanced video communications solutions. Glowpoint's suite of robust telepresence and video communications solutions enable organizations to communicate with each other over disparate networks and technology platforms. Glowpoint supports thousands of video communications system in more than 35 countries with its 24/7 video management services. Glowpoint also powers major broadcasters, Fortune 500 companies, as well as global carriers and video equipment manufacturers - and their customers - worldwide. To learn more, visit www.glowpoint.com.

 







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