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SOURCE Thinspace Technology Inc.
Continued Support for Reporting Revenue Up 871%
PORT ORANGE, Fla., Sept. 4, 2014 /PRNewswire/ -- Thinspace Technology Inc. (OTCBB: THNS; "Thinspace or the "Company"), a global provider of reliable, scalable and affordable application delivery, virtualization, and cloud client technology to public and private sector companies and organizations of all sizes, today is proud to announce that another long-term customer, Power/mation, a one stop shop for automation solutions for engineers and manufacturers, has renewed its Propalms TSE maintenance and support contracts for 100 users. Power/mation has been using Propalms TSE in 2008.
Commenting on Power/mation's decision to extend TSE maintenance and support contracts, Jason Goudy, stated, "We are extremely pleased with the features and benefits that TSE offers including its affordability, simple application management, secure remote access, improved end-user experience, as well as iPad/Android access for BYOD. To stay on the forefront of automation technology, it is necessary that we are equipped with the most efficient software to ensure that our employees can easily access their applications and have no down time. TSE allows us to conduct our business efficiently and effectively."
With more than 40 years of automation industry expertise, Power/mation is a virtual one-stop shop of leading-edge products, automation solutions and services that provide engineers, manufacturing companies, and machine builders with a distinct technological advantage. Power/mation helps businesses improve their return on investment by providing technology solutions that solve their most demanding industrial manufacturing challenges.
"Power/mation is a remarkable organization with a long standing reputation as a leader in the automation industry. We are pleased that they continue to choose TSE as their software solution and hope to have them as a customer for many years to come," stated Chris Bautista, Chief Executive Officer of Thinspace Technology.
The Company filed its Quarterly Report on Form 10-Q for the three months ended June 30, 2014 on August 14, 2014, reporting revenue of $2.593 million, up 871% from the comparable 2013 period. For more information on Thinspace's performance in the second quarter 2014, please see the Company's most recent Form 10-Q on file with Securities and Exchange Commission.
Thinspace Technology operates in high growth B2B markets of application delivery, virtualization and cloud client technology that make it easier, more flexible and more affordable for companies and IT Managers to conduct and streamline computing operations securely from any server - anywhere in the world. IDC predicts that 2014 is the year where desktop virtualization is going to become main stream given its advantages currently in demand: low cost, flexibility, secure and green. According to Gartner research, the global desk top virtualization market is expected to surpass $65 billion in 2015.
About Thinspace Technology Inc.
Thinspace Technology Inc (OTC: THNS) "Thinspace" is a global provider of reliable, scalable and affordable application delivery, virtualization, and cloud client technology to public and private sector companies and organizations of all sizes. Operating on the belief that application delivery and cloud computing solutions should be flexible, dynamic and above all, simple to use, Thinspace understands and is passionate about solving customer problems affordably in the most efficient and effective manner possible. The Company's list of private and public sector customers include NASA, PWC, Deutsche Bank, Toyota, as well as, NHS, local councils, universities, schools, and housing associations. With over 5,000 enterprise customers worldwide, Thinspace is recognized as leading player in application delivery, virtualization, and cloud technology markets. The Company is headquartered in Port Orange, Florida with international offices in U.K., Canada, and India. For more information on the Company, please visit www.thinspace.com.
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
The Company is subject to the risks and uncertainties described in its filings with the OTC Markets, including the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2013.
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