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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
SOURCE: m-Wise, Inc.
http://www2.marketwire.com/mw/emailprcntct?id=EB43F87175969DC5
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