Dallas, Texas (July 13 , 2011) – StockGuru shines its Spotlight on ViewCast Corporation (OTCBB: VCST), a developer of industry-leading solutions for the transformation, management and delivery of digital media over enterprise, broadband, and mobile networks, which announced yesterday that the Board of Directors has named Chairman and former ViewCast CEO George C. Platt Executive Chairman and John Hammock President and Chief Operating Officer, effective immediately. Current CEO Dave Stoner resigned that position effective July 12, 2011 in order to pursue other interests. The Company closed at $0.3245 on extremely light volume trading on the upper end of its fifty-two week range $0.41 – $0.15 on July 12, 2011.
Platt indicated that the changes and new appointments would better equip ViewCast for a new era of commercial focus, execution and growth in its various markets.
“The Board of Directors recognizes that the market opportunity for ViewCast and its products has never been greater and it is imperative that the Company executes on its business model, including broader adoption of our technologies, in order to maximize shareholder value,” said Platt. “We are very pleased to welcome John Hammock to his expanded leadership role at the Company. He is an outstanding leader who is qualified and has a keen understanding of what is required to accelerate growth and market share in today’s expanding digital media market.”
Hammock joined ViewCast in February 2010 as Vice President of Sales and has over 20 years of experience in business development and sales, having previously served in senior leadership positions with companies spanning global telecommunications, media and video markets. At ViewCast, Hammock will apply his proven industry expertise to help expand the Company’s global sales activities, forge key strategic business partnerships, and expand ViewCast’s worldwide distribution networks.
“The overarching goal at ViewCast today is accelerating commercial adoption and revenue growth in key domestic and international markets – ultimately leading to consistent and growing profits,” said Hammock. “ViewCast’s exceptional portfolio of video streaming and media asset management solutions, combined with a growing global market opportunity, makes this an exciting time at ViewCast and an ideal time to contribute to the Company’s future development and success. I am looking forward to the challenge.”
Prior to joining ViewCast, Hammock was Vice President of Americas Sales for Kasenna Inc., a publicly-traded provider of software to telecommunications, cable and consumer electronics manufacturers. During his tenure, Kasenna delivered twelve consecutive quarters of between 22% and 46% sales growth.
From 2004 to 2006, Hammock was Senior Vice President of Worldwide Sales for Austin, TX-based Voxpath Networks, a provider of hosted voice over Internet protocol communications solutions for small businesses. From 2000 to 2004, Hammock was Vice President of Major Accounts for Columbia, MD-based Corvis Corporation, a publicly-traded optical network solutions provider that later became Broadwing Corporation. At Corvis, Hammock was the top producer for three straight years delivering $283 million in revenue, helping accelerate the Company to its initial public offering of more than $1.6 billion. Hammock holds a B.S. in Economics from Texas Christian University.
George Platt has served as a ViewCast director since September 1999 and currently serves as Chairman of the Board. Platt joined ViewCast as Chief Executive Officer and President in September 1999, retiring from the CEO position July 2008. Prior to ViewCast, from 1991 through 1999, Platt was employed by Intecom, Inc., a Dallas-based provider of multimedia telecommunications products and services, holding the positions of Chief Executive Officer and President. Prior positions held by Platt include Group Vice President (Business Communications Group) at Rolm Corporation until its acquisition by IBM, and fifteen years with Xerox, where he attained the position of Operations Manager, Southeast Region. Platt holds an M.B.A. from the University of Chicago and a B.S. degree from Northwestern University. For over a decade, Platt served as a director for Intervoice, Inc., a publicly held Company, until it was acquired by Convergys in the fall of 2008.
Platt added, “We are grateful for Dave Stoner’s many years of service to ViewCast and its shareholders. His contributions to operations, product development and management have all been cornerstones of the Company’s success and its survival though a variety of economic and marketplace challenges. We wish him only the best in his future endeavors.”
About ViewCast
ViewCast develops industry-leading hardware and software for the transformation, management and delivery of professional quality video over broadband, enterprise and mobile networks. ViewCast’s award-winning solutions simplify the complex workflows required for the Web-based streaming of news, sports, music, and other video content to computers and mobile devices, empowering broadcasters, businesses, and governments to easily and effectively reach and expand their audiences. With more than 400,000 video capture cards deployed globally, ViewCast sets the standard in the streaming media industry. ViewCast Niagara® streaming appliances, Osprey® video capture cards and VMp™ video management systems provide the highly reliable technology required to deliver the multi-platform experiences driving today’s digital media market.
ViewCast (www.viewcast.com) is headquartered in Plano, Texas, USA, with sales and distribution channels located globally.
ViewCast, SCX, Osprey, SimulStream, VMp and Niagara are trademarks or registered trademarks of ViewCast Corporation or its subsidiaries. All other products are trademarks or registered trademarks of their respective companies.
To view the StockGuru Spotlight on OTCBB: VCST, please visit: http://stockguru.com/category/latest-spotlights/
To get free alerts on this and other similar stocks, please register here:
What is the StockGuru Spotlight?
Many companies covered in The StockGuru Spotlight have positive increases in both volume and share price. While this is not true in all cases, StockGuru strives to cover companies in The StockGuru Spotlight that are worth of our readers’ attention.
StockGuru looks for potential break-out candidates in The StockGuru Spotlight. Many of these companies have had recent news and appear to be getting the attention of investors. StockGuru does not typically feature companies in The StockGuru Spotlight that are compensating StockGuru for this coverage. There are times when StockGuru covers a stock in The StockGuru Spotlight that had previously compensated Stockguru. Where that is the case, a proper disclosure is included below. StockGuru and its partners, employees and writers never hold shares, short positions, warrants or any other current position in a stock featured in The StockGuru Spotlight.
To feature a company in The StockGuru Spotlight please contact the Publisher at [email protected]. If our reader is a key person for a publicly traded company, StockGuru can consider that company for either a StockGuru Spotlight or a StockGuru Profile. Please contact the StockGuru Publisher John Pentony at this email address: [email protected].
Stockguru.com (“SG”) provides its members with the latest news, press releases, and trade alerts for all the companies highlighted on the site StockGuru.com. SG utilizes information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by SG to be accurate, and should not be considered to be all-inclusive. The owner, publisher, editor and their associates are not responsible for errors and omissions. SG encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SG makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. SG is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.Stockguru.com or mentioned herein.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and SG undertakes no obligation to update such statements. StockGuru is occasionally compensated for coverage. When this is the case, SG clearly indicates this with a disclosure of all compensation received in the past and present. Additionally SG also discloses any anticipated compensation in the future. Compensation is typically in cash. Sometimes a company pays SG in restricted shares. Pentony Enterprise and its associated companies does not take free trading shares for any reason at anytime. StockGuru is not a registered investment adviser or a broker-dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
John Pentony, Publisher, Stockguru.com
Tel: +1 469 252 3031
e-mail: [email protected]