Vislink Technologies, Inc. - VISL STOCK NEWS

Vislink Technologies reported an 11% revenue increase for Q2 2020, reaching $6 million, a rise from $5.4 million in Q1 2020 despite the pandemic impact. EBITDA improved by $3.5 million compared to the previous quarter, although it remains negative at $421,000. The company ended Q2 with cash reserves of $5.1 million, significantly up from $2.5 million in Q1. The net loss narrowed to $778,000 or $(0.05) per share, enhancing from a $4.4 million loss in Q1 2020. Vislink is focusing on operational efficiencies and capital allocation to growth areas.

Vislink Technologies (NASDAQ: VISL) will release its Q2 2020 results on August 13, 2020. A webcast with CEO Carleton Miller and CFO Michael Bond will follow on August 14, 2020, at 10:00 a.m. ET for detailed earnings updates. Vislink Technologies specializes in advanced communication solutions for live production, military, and government sectors, marking over 50 years of industry leadership.

Potential risks include challenges in meeting business objectives and dependence on specific product sales.

Vislink Technologies (Nasdaq: VISL) announced a 1-for-6 reverse stock split effective July 31, 2020, at 5 p.m. ET. Trading on a split-adjusted basis will begin on August 3, 2020. CEO Mickey Miller highlighted this move as a step in their operational turnaround, aiming to maintain Nasdaq listing and improve capital access. The company also mentioned the engagement of Continental Stock Transfer & Trust Company for shareholder exchanges. Challenges remain, including dependence on specific products for revenue and potential effects from economic downturns, including COVID-19.

Vislink Technologies is set to hold its 2020 Annual Meeting of Stockholders on June 30, 2020, at 11:00 a.m. ET, via remote communication. Shareholders can access the meeting through a specific link, ensuring they maintain their rights to participate despite the virtual format. The company has highlighted its commitment to providing reliable connectivity in various sectors, including military and government. Vislink's innovative solutions are recognized for their high-definition communication capabilities.

Vislink Technologies (NASDAQ: VISL) announced the adjournment of its Annual Meeting of Stockholders from June 17, 2020, to June 30, 2020. This decision aims to give retail shareholders more time to vote on various proposals, especially Proposal Number 3, which seeks authorization for a potential reverse stock split ranging from one-for-five to one-for-fifty. The meeting will be held remotely, and shareholders are encouraged to participate.

For voting assistance, stockholders can contact Laurel Hill Advisory Group at 888-742-1305.

Vislink Technologies, Inc. (NASDAQ: VISL) announced its expanded collaboration with Movicom, focusing on innovative wearable cameras for live sports. Their latest developments include Refcams for hockey, showcased at the Champions Hockey League, and new camera systems like Earcam and UmpireCam for various sports applications. These systems improve broadcast capabilities and athlete engagement. The miniaturized IMT Dragonfly transmitter enhances portability and efficiency. The company continues to lead in advanced communication solutions.

Vislink Technologies announced that RaceTech in the UK is utilizing its RF Cameras and Point-to-Point Links for live horse racing coverage, resuming after a 76-day lockdown. RaceTech, operational since 1946, supports the racing industry with advanced technology, including over 50 Vislink systems across 11 production vehicles. The company is set to cover about 1,500 race fixtures this year, enhancing the viewing experience for fans eager for live sports. Vislink emphasizes reliability and quality in its products, which have been integral to RaceTech's operations for over 18 years.

Vislink Technologies, Inc. (Nasdaq: VISL) reported a first quarter revenue of $5.4 million, down from $8.2 million in Q1 2019. The net loss was $4.4 million, or $(0.09) per share, compared to a loss of $3.1 million, or $(1.62) per share, in the previous year. Gross margins decreased to 47% from 50% year-over-year. The company raised $6 million in capital and fulfilled key contracts, including a $2.8 million Army contract and received a $1.3 million European contract. New CEO Carleton Miller emphasized cost reductions and operational stability amidst COVID-19 challenges.

HACKETTSTOWN, NJ, May 20, 2020 - Vislink Technologies (NASDAQ: VISL) has postponed its Annual Meeting of Stockholders originally scheduled for May 22, 2020, to June 17, 2020, due to insufficient votes for a quorum. This delay is attributed to a predominantly retail shareholder base. The meeting will still occur via remote communication to ensure safety amid the COVID-19 pandemic. Vislink encourages shareholders to vote promptly through their proxy solicitor, Laurel Hill Advisory Group, at 888-742-1305.