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Thinspace Technology Announces 2014 Yearly Revenue Up 315%
Thinspace Technology Inc., a global provider of reliable, scalable and affordable application delivery, virtualization, and cloud computing technology to public and private sector companies and organizations of all sizes, today is pleased to announce its annual 2014 financial and operational results.

2014 annual revenue increased to $6.267 million as compared to $1.509 million in 2013, a year-over-year improvement of 315%.  The growth this period over last year is consistent with the Company's previous 2014 quarterly performance improvements, which now total $5.701 million in revenue year to date versus $.984K through this period in 2013, representing an increase of over 479%.

Thinspace continues to realize improvements in operating efficiencies while growing top line revenue, resulting in a significant reduction in operating expenses as a percent of revenue year over year from 133% in 2013 down to 98% in 2014. Operating loss improved in 2014 to 54% of revenue, from a loss of 79% of revenue in 2013.

Chris Bautista, Chief Executive Officer of Thinspace Technology Inc., commented, "We are pleased to report strong revenue growth in 2014 of $6.3 million compared to $1.5 million in 2013, representing an increase of over 300%. Operating efficiencies increased this year over last year with a 35% improvement of operating expense as a percentage of total revenue.  The improvements we started in mid-2014 have positively impacted our performance for the year.  We look forward to implementing further improvements in operations and product development for 2015."

For more information regarding Thinspace Technology's financial performance for 2014, please refer to the Annual Report on Form 10-K to be filed with the Securities and Exchange Commission on or about March 31, 2015.

Thinspace Technology operates in high growth B2B markets of desk top virtualization and cloud computing solutions – which 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.  Thinspace achieved third quarter 2014 revenue of $2.322 million, and nine months ended September 30, 2014 revenue of $5.701 million, representing year-over-year improvements of 464% and 479%, respectively.

Gartner research predicts the global desk top virtualization market to surpass $65 billion in 2015.

Published Thursday, April 02, 2015 7:12 AM by David Marshall
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