Thinspace Technology Inc (OTCMKTS:THNS) a global provider of affordable, scalable and reliable application delivery, virtualization, & cloud client technology reported its first quarter 2015 operating and financial results. The revenue in the first quarter surged to $0.790 million, up from $0.783 million in the same quarter a year earlier.
Thinspace revenue in the first quarter came consistent with the previous 1Q2014 performance. Chris Bautista, the Chief Executive Officer said that they are delighted to report improvement in the first quarter revenue over last year as the focus was on developing next generation product solutions. The new product development positions the company to record higher margins and strong revenues in the future ahead.
Thinspace continues to take measures on integrating its VDI and Remote Desktop Session Host RDSH product solutions which is expected to release in 3Q2015. The product launch will place the Company in an ideal slot to generate higher gross profit margins and fulfill the demands of its client base. In addition, the Company will offer several multiple licensing plans, increasing market reach and improving its channel network.
Thinspace Technology Inc (OTCMKTS:THNS) is taking several measures to become a leading name in the industry of B2B markets of application delivery. It develops advanced form of virtualization and cloud client technology so that the IT managers and companies find it easier, flexible and affordable to conduct and manage computing operations remotely from any server across the world.
As per IDC, 2014 was the year when desktop virtualization became main stream due to its numerous advantages like low cost, flexibility, safe and green. The IDC, ABI Research and Gartner Research expect the respective industry to exceed $21 billion in 2018.
In last trading session, the stock price of Thinspace declined more than 28% to close the trading session at $0.0241.