Loading...
•
Dec 31, 2020
Vislink Q4 2020 Earnings Report
Vislink reported strong fourth quarter revenues and completed its financial turnaround.
Key Takeaways
Vislink reported a strong fourth quarter with revenues rebounding to almost $7 million, which represented the strongest quarter of the year. The company also completed the second phase of its financial restructuring, increasing liquidity and strengthening its financial position.
Fourth quarter revenues were over 40% higher than the third quarter, reaching almost $7 million.
SATCOM business sector showed particular strength in the fourth quarter, with revenue increasing over 13% and bookings up over 52% from the same period in 2019.
The company realized savings of approximately $5 million in fiscal 2020 through proactive spending cuts.
A $50 million capital raise was closed to facilitate profitable growth through organic business development and strategic alternatives.
Vislink
Vislink
Forward Guidance
Vislink remains cautiously optimistic that, as worldwide business starts returning to pre-pandemic levels in 2021, it will be well-positioned to capitalize on growing opportunities across its Live Event Production, Military/Government, SATCOM and Services solution areas through 2021 and beyond.
Positive Outlook
- Renewed quoting activity as live in-person sports and entertainment events start to come back online.
- Well-positioned to capitalize on growing opportunities across Live Event Production.
- Well-positioned to capitalize on growing opportunities across Military/Government.
- Well-positioned to capitalize on growing opportunities across SATCOM.
- Well-positioned to capitalize on growing opportunities across Services solution areas through 2021 and beyond.
Challenges Ahead
- The company was negatively impacted by the global business downturn due to COVID-19.