Video Authors: Elizabeth White, Yakov Fain, Liz McMillan, Dan Ristic, Jnan Dash

News Feed Item

m-Wise Shows Growth in Revenues in 2009 and Shifts From Loss to Profit

NEW YORK, NY -- (Marketwire) -- 03/12/10 -- Mobile content service and technology vendor m-Wise (OTCBB: MWIS), today announced its consolidated financial results for the fiscal year ended December 31, 2009.

Financial Results

Revenues for the year ended December 31, 2009 rose to $3,166,276, up 12% from $2,833,626 in 2008. Income from license fees and products increased 65% to $795,096 for the year ended December 31, 2009 from $481,116 for the same period in 2008.

Gross Profit for the year ended December 31, 2009 rose to $2,269,019, up 31% from $1,727,526 in 2008.

General and administrative expenses decreased 14% to $1,662,859 for the year ended December 31, 2009 from $1,940,732 for the year ended December 31, 2008.

Research and development expenses decreased 28% to $548,673 for the year ended December 31, 2009 from $758,693 for the year ended December 31, 2008.

Net Profit for the year ended December 31, 2009, was $82,985 compared with a net loss of $1,035,722 in 2008.

Full financial results for 2009 are available in m-Wise 10K filing.

"2009 was an exciting and profitable year for m-Wise. Given the challenges imposed by the downturn in the global economy and the hazards of currency fluctuations, m-Wise continued on its path of sustainable growth and ended 2009 with a profit," stated Mati Broudo, co-founder and executive chairman of m-Wise.

"In the past year we continued to expand our presence in the Americas, we increased volume of sales in the US, expanded our relationships with our clients and engaged new key players in the entertainment industry, such as Fox Mobile Group, Universal Records and Warner Music. In addition, we have also strengthened our position in the growing field of mobile marketing and executed mobile marketing campaigns for companies like Kodak and WPP's Burson Marsteller agency.

We are on track with our strategic plan to establish m-Wise as a market leader and key provider of mobile services in Latin and Central America markets. We view Brazil as a key market for m-Wise and as such, we are excited by the prospects of our first new local presence in the continent. We plan to expand our presence in other Latin American markets as well, such as Mexico and Argentina. Other exciting news demonstrating the capabilities of our technology is a signed contract with Digicel Group of mobile carriers, who selected the m-Wise platform to deliver mobile content services in 26 Caribbean, Central and Latin American markets.

2009 was a significant year for m-Wise as we have been able to emphasize our unique position as an off-deck mobile marketing and mobile entertainment service provider. We have significantly enhanced the underlying technology of our content management and delivery platform and applied numerous improvements that significantly minimizes time-to-market for entertainment companies, content store-fronts and mobile marketing campaigns.

2009 was also an important year in the evolution of mobile entertainment as improved mobile networks and mobile devices became a clear phenomena. We foresee the expansion of mobile video and other rich media services due to improved mobile bandwidth and the growth of wide screen mobile devices. As a result of these favorable market conditions, we expect to see in 2010 more and more businesses looking to establish services and expand their presence in the mobile world. The m-Wise platform is designed to provide these businesses a one-stop-shop and cost effective industrial grade solution for the delivery of all types of digital content, to any device, across multiple geographical regions.

We are confident that we are in a unique position to profit from the growth of the mobile industry, we will continue to expand the reach of our business and our path of profit and growth," concluded Mr. Broudo.

About m-Wise

Founded in 2000, m-Wise has rapidly established itself as a leading international provider of enabling technologies for the mobile entertainment and marketing industries, powering market leaders such as Thumbplay, Bertelsmann's Arvato Mobile and Universal Records. m-Wise is the developer of MOMA platform, the de facto content management and service delivery platform used on or through over 50 mobile networks throughout Europe, North and Latin America, and Asia.

MOMA is an integrated "one stop shop" for mobile operators, wireless ASPs, content providers, and media producers to always deliver end-users with a state-of-the-art mobile experience. MOMA makes it easy not only to manage and deliver content like entertainment, music, games, and video without specific regard to handset compatibility but also adds real-time end user capabilities like voting, mobile marketing, advertising and access to live data. Better yet, MOMA includes transactional billing, customer care, and even marketing capabilities -- all built in.

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:
Janette Lynott
Email: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
Tapping into blockchain revolution early enough translates into a substantial business competitiveness advantage. Codete comprehensively develops custom, blockchain-based business solutions, founded on the most advanced cryptographic innovations, and striking a balance point between complexity of the technologies used in quickly-changing stack building, business impact, and cost-effectiveness. Codete researches and provides business consultancy in the field of single most thrilling innovative te...
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and Bi...
The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get tailored market studies; and more.
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
CloudEXPO has been the M&A capital for Cloud companies for more than a decade with memorable acquisition news stories which came out of CloudEXPO expo floor. DevOpsSUMMIT New York faculty member Greg Bledsoe shared his views on IBM's Red Hat acquisition live from NASDAQ floor. Acquisition news was announced during CloudEXPO New York which took place November 12-13, 2019 in New York City.
Atmosera delivers modern cloud services that maximize the advantages of cloud-based infrastructures. Offering private, hybrid, and public cloud solutions, Atmosera works closely with customers to engineer, deploy, and operate cloud architectures with advanced services that deliver strategic business outcomes. Atmosera's expertise simplifies the process of cloud transformation and our 20+ years of experience managing complex IT environments provides our customers with the confidence and trust tha...
Intel is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley. It is the world's second largest and second highest valued semiconductor chip maker based on revenue after being overtaken by Samsung, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs). Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also manufactu...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...