Welcome to our dedicated page for Vislink Technologies news (Ticker: VISL), a resource for investors and traders seeking the latest updates and insights on Vislink Technologies stock.
Vislink Technologies, Inc. (NASDAQ: VISL) is a global technology leader specializing in the collection, delivery, and management of high-quality live video and associated data. With a strong presence in the broadcast and surveillance markets, Vislink provides cutting-edge solutions for live news, sports, and entertainment events. The company's products are also vital for defense, law enforcement, and public safety customers, ensuring real-time video intelligence and situational awareness.
Headquartered in the USA, Vislink operates across several continents including the UK, Australia, UAE, South Africa, and Singapore, employing over 250 professionals worldwide. The company excels in the design and manufacture of microwave radio, satellite transmission, cellular, and wireless camera systems, with development and manufacturing primarily located in the UK and the USA.
Vislink is renowned for its innovative and reliable technology that enables seamless video transmission from the field to the viewing platform. Recent achievements include advancements in microwave and wireless camera systems, expanding their product line to offer even more robust solutions for their diverse clientele. Current projects focus on enhancing real-time video communication capabilities, leveraging the latest advancements in satellite and cellular technology.
The company operates under the trading name IMT Ltd, a wholly-owned subsidiary of xG Technology Inc., and is committed to maintaining a competitive edge through continuous innovation and customer-focused solutions.
Vislink Technologies has appointed Donnie Gilliam as Vice President of Operations, effective June 19, 2024. Gilliam, who brings extensive experience in operations and service within high-growth companies, will focus on enhancing customer satisfaction, reducing costs, and improving working capital. Previously, he held key roles at HM Electronics, Clear-Com, and Spectralink , contributing significantly to their operational growth. Gilliam's expertise in lean manufacturing, quality, and supply chain management will be instrumental in optimizing Vislink’s operational efficiency and supporting its growth objectives. He is also a member of the Western Regional Board of the Association for Manufacturing Excellence (AME).
Vislink Technologies announced that on June 17, 2024, Donald Gilliam was granted 24,543 restricted stock units (RSUs) as an inducement to become the Vice President of Operations. These RSUs, granted outside the existing equity plans, are split equally between time-based and performance-based awards, as per Nasdaq Listing Rule 5635(c)(4). The time-based RSUs will vest over three years, while the performance-based RSUs will vest based on specific performance metrics set by the Board of Directors or Compensation Committee by August 31, 2024, contingent on Mr. Gilliam’s continued employment.
Vislink Technologies (Nasdaq: VISL) has launched the INCAM-GV RF and 5G wireless transmitters for Grass Valley's new LDX 135 RF and LDX 150 RF cameras. This marks a significant advancement in live production technology, offering enhanced production freedom, flexibility, and high image quality. The INCAM-GV supports HEVC 4K UHD and HDR-ready wireless systems, ensuring compatibility with various broadcast formats like 4K UHD, 1080p, 1080i, and 720p. This innovation promises high-quality, immersive viewing experiences for modern broadcasting. Vislink's INCAM-GV will be showcased at the SVG College Summit in Atlanta and Broadcast Asia in Singapore.
Vislink Technologies reported a 20% increase in total revenue to $8.6 million for Q1 2024, driven by a surge in sales to military and government customers. Gross margin improved from 54% to 59%, and net loss narrowed to $0.9 million from $1.8 million, or $0.39 per share from $0.80 per share. The company held $13.8 million in cash and short-term investments and $31.2 million in working capital as of March 31, 2024.
Operational highlights include increased sales to MilGov customers, launch of products like Air-to-Anywhere™ and DragonFly V, and growth in service/software revenue. The company also expanded its presence in the drone command and control market and received
Vislink Technologies, Inc. will report its first-quarter 2024 financial results on May 15, 2024, at 8:30 a.m. ET. The company specializes in live video and data management for media, law enforcement, and defense industries. A conference call will be held to discuss the results, and questions can be submitted in advance.
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