m-Wise Increases Revenues by 23% in 2008
March 31 2009 - 9:00AM
Marketwired
Mobile content technology vendor, m-Wise (OTCBB: MWIS), today
announced its consolidated financial results for the fiscal year
ended December 31, 2008.
Financial Results
Revenues for the year ended December 31, 2008 rose to
$2,833,626, up 23% from $2,295,260 in 2007. Income from customer
services and technical support increased 34% to $1,375,739 for the
year ended December 31, 2008 from $1,030,370 in 2007. Income from
revenue share increased 13% to $976,771 for the year ended December
31, 2008 from $864,894 in 2007. Income from license fees and
products increased 20% to $481,116 for the year ended December 31,
2008 from $399,996 in 2007.
Full financial results for 2008 are available in m-Wise 10-K
filing.
"m-Wise marked another exceptional year of growth in 2008,
generating increased income from revenue share, customer services
and technical support as well as license fees and products," stated
Mati Broudo, co-founder and Chairman of m-Wise. "During calendar
year 2008, we expanded our business in our primary markets of the
USA and Brazil. Our US presence, which we established in late 2007,
has developed and expanded as we had hoped, and we signed new deals
in this territory this year. We have geared our special expertise
in the mobile entertainment industry and signed deals with records
labels such as Universal Motown Republic Group and Interscope which
are part of the Universal Records Group, to deliver various artist
specific mobile content experience. We started working with the
leading WPP advertising agency, Burson Marsteller, and delivered a
relatively small mobile marketing project for them with the
expectation to become their selected technology partner in this
market segment and launch additional projects in 2009. We have also
secured two major deals in the territory of Brazil with Zero 9 and
Daivid2Mobile's Boltcel, leaders in the Italian mobile
entertainment market that plan to launch their services in Brazil
using our technology. We have also been able to strengthen our
partnerships with existing customers, Thumbplay, Arvato Mobile,
Interchan, Logia Mobile and Supportcomm and have been able to
benefit from the revenue share model that we have established with
some of them and see growth in our revenues following their growth
in business. We have seen the implication of the global economy
downturn reflected in the activity of some of our customers, yet
despite that, we have seen a significant improvement in our revenue
growth of 23% from last year.
"We believe that the strength of our technology and position in
the market allows some of our potential customers to become more
effective with our technology and therefore, despite of the global
economy downturn and based on the current sales pipeline we have,
we expect 2009 to be another year of growth in revenues where we
expect to achieve profitability," concluded Mr. Broudo.
About m-Wise
Founded in 2000, m-Wise has established itself as a leading
international provider of enabling technologies for the mobile
communications, mobile advertising, mobile gaming and mobile
entertainment industries. m-Wise is the developer of MOMA platform,
a proven mobile content management and service delivery platform
used in over 50 mobile networks throughout Europe, North and Latin
America, and Asia.
MOMA is an integrated "one stop shop" for mobile operators,
wireless ASPs, and content providers to deliver end-users with a
state-of-the-art mobile experience. MOMA makes it easy to manage
and deliver content such as entertainment, music, games and video
regardless of handset compatibility, while adding real-time end
user interactivity like voting, mobile marketing, advertising and
access to all forms of real-time content. MOMA furthermore
integrates built-in capabilities for transactional billing,
customer care and marketing to satisfy the growing needs of major
brands and marketing agencies.
For more information, please visit www.m-wise.com.
Safe-Harbor Statement
This press release contains "forward-looking statements." These
forward-looking statements use words such as "believes," "intends,"
"expects," "may," "will," "should," "plan," "projected,"
"contemplates," "anticipates" or similar statements. These
statements are based on our beliefs, as well as assumptions we have
used based upon information currently available to us. Because
these statements reflect our current views concerning future
events, these statements involve risks, uncertainties and
assumptions. Actual future results may differ significantly from
the results discussed in the forward-looking statements. A reader,
whether investing in our common stock or not, should not place
undue reliance on these forward-looking statements, which apply
only as of the date of this press release.
For more information, please contact: m-Wise IR: Adi Armoza
Email: Email Contact