m-Wise Continues Path of Growth -- Revenues and Profitability Increase for the First Nine Months of 2009
November 13 2009 - 9:00AM
Marketwired
Mobile content technology vendor m-Wise (OTCBB: MWIS) today
announced its consolidated financial results for the nine months
ended September 30, 2009.
Financial Results
Net Profit for the nine months ended September 30, 2009 was
$136,426 compared with a net loss of $550,480 in 2008.
Revenues for the nine months ended September 30, 2009 rose to
$2,385,117, up 17% from $2,037,757 in 2008. Income from customer
services and technical support increased 16% to $1,152,487 for the
nine months ended September 30, 2009 from $993,128 in 2008. Income
from revenue share increased 43% to $965,966 for the nine months
ended September 30, 2009 from $677,112 in 2008.
Revenues for Q3 2009 rose to $910,522, up 23% from $742,596 in
Q3 2008. Net Profit for Q3 2009 increased 310% to $28,540 from
$6,968 in Q3 2008.
Full financial results for 2009 first nine 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 third quarter of 2009, we
significantly strengthened our position as a global player in the
mobile content industry. We won a deal from Fox Mobile Group (FMG),
one of the largest global retailers of the mobile content off-deck
industry who, among others, operates the known mobile content
brands of Jamba and Jamster. FMG chose our content delivery
platform due to its unique qualities and we have already launched
the first stage of operation in Brazil. We believe that the
qualities of our content solutions and services will result in
further expansion of our implementations within the FMG structure
and it holds promising expansion of revenue generation from this
operation. We have also won a couple of small deals in the
territory of the United Kingdom, and also a mobile fan club
engagement with Warner Music Group and enhanced our operations in
the territory of Brazil. The substantial growth of profit in Q3
2009 and the steady growth in profit is a direct result of the
successful deployment of revenue share deals with our clients as we
see more revenues following the growth of existing clients."
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