Vislink Technologies Inc. (NASDAQ: VISL) stock surged by 3.69% at last close while the VISL stock price declined by 3.95% in the pre-market trading session. There is no update available regarding this decline in VISL stock price. Vislink is a global technology company that specializes in collecting, delivering, and managing high-quality live video and accompanying data from the action to the watching screen. Vislink provides systems for the collecting of live news, sports, and entertainment events for the broadcast markets.
Recent Past Development
Vislink released its financial results for the first quarter 2021 on May 18, 2021. Given below is the summary:
- Revenues in Q1 2021 were $4.1 million, down from $5.4 million in the same period in 2020.
- In the first quarter of 2021, gross margins were 46 percent of revenue, compared to 47 percent in the same period in 2020.
- The first quarter of 2021 saw a $2.7 million total loss, or $(0.07) per share, relative to a $4.4 million net loss, or $(0.54) per share, in the first quarter of 2020.
- For the three months ending March 31, 2021, EBITDA (earnings before interest, taxes, depreciation, and amortization) was minus $2.4 million, down from $3.9 million for the same period in 2020.
- And lastly, the cash and cash equivalents for the first quarter 2021 was $60 million, whereas it was $5.2 million at December 31, 2020.
Carleton Miller, CEO of Vislink stated:
VISL began to receive income from operations that had been delayed or terminated because to the COVID-19 outbreak in the first quarter of 2021. VISL was chosen as a project vendor for the modernization of Alabama Public Television, where they will launch IP Link 3.0 in its first significant deployment, as well as a US Department of Defense order for their modular and compact video communications equipment. VISL also unveiled the Quantum wireless camera receiver, which is now in the delivery process and will be used at a number of tier-1 events this summer. Both goods have strong sales prospects and will help achieve their goal of launching more new items this year than they have in the previous five.