m-Wise Increases Revenues and Profitability for the First Six Months of 2009
August 14 2009 - 9:00AM
Marketwired
Mobile content technology vendor, m-Wise (OTCBB: MWIS), today
announced its consolidated financial results for the six months
ended June 30, 2009.
Financial Results
Net Profit for the six months ended June 30, 2009 was $107,886
compared with a net loss of $557,448 in 2008.
Revenues for the six months ended June 30, 2009 rose to
$1,474,595, up 14% from $1,295,161 in 2008. Income from customer
services and technical support increased 4% to $677,786 for the six
months ended June 30, 2009 from $648,996 in 2008. Income from
revenue share increased 58% to $596,811 for the six months ended
June 30, 2009 from $378,647 in 2008.
Full financial results for 2009 first six months are available
in m-Wise 10Q filing.
"m-Wise marked another milestone of growth in income and
profitability," stated Mati Broudo, co-founder and Executive
Chairman of m-Wise. "During the second quarter of 2009 we have
continued to expand our presence in the Americas. We won an RFP
with the Digicel Group, the leading mobile carrier group in 23
countries in Central America and the Caribbean and we will provide
Digicel with service and content delivery solutions in a hosted and
service model. We have also closed some strategic deals in the US
market which are expected to boost our revenues in this market and
pave the way for additional deals of the same type. We have closed
a deal with Malaco Records where our platform will be used as the
end-to-end content storefront for this label. We intend to use this
relatively unique model and approach the major record labels with
the same offer and concept. We have also closed a deal with Tribune
Media Services to deliver certain mobile entertainment and
information services through their vast syndication channels. We
have also strengthened our position in the Brazilian market by
signing new customers and seeing growing revenue share rates from
our existing customers. Brazil has become a primary market for
m-Wise and we intend to make investments in order to leverage our
strong position in this market and generate substantially higher
rates of revenues in this market," 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