Vislink Technologies, Inc. - VISL STOCK NEWS

Vislink (NASDAQ: VISL) has announced that its 2021 annual meeting of stockholders, originally scheduled for June 21, 2021, will be convened and adjourned due to lack of quorum. The meeting is now set to reconvene on July 19, 2021, at 9:00 a.m. Eastern Time. This extension provides more time for stockholders to vote on proposals outlined in the proxy statement, filed with the SEC on April 30, 2021, and supplemented on June 17, 2021. The meeting will take place virtually at the same link provided.

Vislink (NASDAQ: VISL) has announced a significant order from the U.S. Department of Defense valued at over $3.8 million. This order is for handheld intelligence, surveillance, and reconnaissance (ISR) receiver devices and accessories, aimed at enhancing military operations with high-resolution, real-time video. The equipment is designed to provide mission-critical, ultra-low latency video that improves tactical decision-making. CEO Mickey Miller emphasized the company's strong relationship with the military, highlighting the demand for secure video data delivery.

Vislink (Nasdaq: VISL) reported Q1 2021 financial results, revealing revenues of $4.1 million, down from $5.4 million in Q1 2020. The company recorded a net loss of $2.7 million, improving from a loss of $4.4 million a year prior. Gross margins were at 46%. Key achievements included launching the Quantum wireless camera receiver and IP Link 3.0, along with securing orders valued over $6.8 million from the U.S. Department of Defense and Alabama Public Television. The company ended the quarter with $60 million in cash, highlighting significant operational improvements.

Vislink (Nasdaq: VISL) has secured a $2.8 million contract to upgrade the microwave distribution system for Alabama Public Television (APT) to support ATSC 3.0 transmission. The project entails upgrading 30 locations with high-speed IP components from Vislink, enhancing the network's capability for live video transmission. Work is anticipated to start in early summer 2021 and conclude by year-end, incorporating redundancy features to minimize signal disruption.

Vislink successfully supported the live broadcasts of the Cheltenham Festival and Grand National Festival using their advanced Radio Frequency (RF) camera technology. In partnership with RaceTech, these events featured remote cameras that significantly enhanced the coverage for channels like Racing TV and Sky Sports Racing. During the All Weather Championships, Vislink's equipment delivered high-quality visuals, showcasing horse racing action effectively. The company emphasized its commitment to providing innovative and low-cost broadcasting solutions, especially during the pandemic.

Vislink collaborates with NEP Group to enhance the Extreme E off-road electric racing series, which aims to raise awareness of climate change and promote sustainability and gender diversity. The inaugural season started on April 2, 2021, in Saudi Arabia and spans four continents. Vislink's advanced RF technology will provide unique live broadcast experiences, showcasing challenges faced by various ecosystems. NEP will supply comprehensive production solutions, including remote production capabilities and connectivity. This partnership emphasizes both sustainability and community engagement.

Vislink (Nasdaq: VISL) reported a strong fourth quarter for 2020, with revenues reaching $7 million, a 40% increase from Q3. The company's total revenue for 2020 was $22.9 million, a decline from $28.9 million in 2019. A significant $50 million capital raise and proactive spending cuts improved liquidity and operational stability. Notably, the SATCOM sector experienced a 13% revenue increase and bookings surged by 52% year-over-year. Although the company faced a net loss of $17.6 million, management expressed optimism for 2021, focusing on growth through strategic investments and recovering market conditions.

Vislink (Nasdaq: VISL) will announce its financial results for the year ending December 31, 2020, on March 31, 2021. A live webcast will be held on April 1, 2021, at 10:00 a.m. ET, where management will review the results and provide a business update. The company specializes in high-quality live video collection, delivery, and management across various sectors, including broadcast and defense. For more details, visit www.vislink.com.

Vislink (NASDAQ: VISL) announced the launch of its Quantum IP-native wireless camera receiver, designed to enhance production flexibility and operational efficiency. The Quantum receiver supports up to 16 RF inputs, enabling robust coverage and improved video quality while reducing equipment costs. Its built-in SRT capability allows for low-cost video transmission over the internet, making remote production more viable. This new technology positions Vislink for growth in the evolving broadcast landscape, catering to increased demand for flexible and cost-effective production solutions.