Call Genie Inc.
TSX VENTURE : GNE

Call Genie Inc.

March 02, 2007 09:30 ET

Call Genie Announces Fourth Quarter and Year-End Results for Fiscal 2006

CALGARY, ALBERTA--(CCNMatthews - March 2, 2007) - Call Genie Inc. (TSX VENTURE:GNE), a provider of enhanced voice directory services, today reported fourth quarter results for the three months and fiscal year ended December 31, 2007.

Revenues for the three month period ended December 31, 2006 increased to $261,171 from $95,027 for the same three month period in 2005. Revenues for the fiscal year ended December 31, 2006 increased to $698,246 from $190,378 in the fiscal year ended December 31, 2005. The increase in revenues over both periods was as a result of additional consulting services generated to support new business requirements from the Yellow Pages Group of Canada. Fourth quarter revenues increased 47% over the third quarter due to additional consulting services generated in the fourth quarter.

"Fiscal 2006 was significant for Call Genie in that the company began to execute on its strategy of international expansion. Our recent announcement of a five year contract with a U.S. directory assistance provider is an example of how the market place has begun to recognize the added value of our new and innovative product." said Mr. Michael Durance, the company's Chief Executive Officer.

The net loss for the company for the fourth quarter of 2006 was $2,259,062 compared to $755,785 for the same period in 2005. The net loss for Call Genie for the fiscal year ending December 31, 2006 was $6,451,062 compared to $2,148,166 for the same period in 2005.

For the fourth quarter ended December 31, 2006, the cash used in operating activities was approximately $1.8 million compared to cash used in operating activities of $550,000 for the fourth quarter of the previous year. For the year ended December 31, 2006, cash used in operating activities was approximately $5.6 million compared to approximately $1.9 million for the same period in 2005. The increase in cash flows used in operating activities for the year ended December 31, 2006 is primarily attributable to increased personnel and operating costs used in to build a Global Business Development team and further invest in the technology development.

As at December 31, 2006, Call Genie had a positive working capital of $5,869,270.

The preceding Annual Results for Call Genie should be read in conjunction with Call Genie's audited financial statements and the accompanying notes for the year ended December 31, 2006 and the related Management Discussion and Analysis ("MD&A"), which have been filed on SEDAR (www.sedar.com) and on the Call Genie website at www.callgenie.com

For a report on Call Genie's progress, refer to the Outlook section of the MD&A.

About Call Genie

Call Genie, Inc. is the leading provider of enhanced Voice-enabled Mobile Local ("VoMoLo") search products and services to Wireless Carriers, Directory Assistance providers, and Yellow Pages publishers. Offered as a turnkey or ASP solution, Call Genie's Enhanced Voice Directory (EVD™) platform enables companies to offer a comprehensive, voice-enabled business category search service to consumers and business customers. EVD™ is network, handset and location independent, and can be incorporated into any existing Directory Assistance service or deployed as a stand-alone offering.

Call Genie won the 2006 Yellow Pages Association Industry Excellence Award for Marketing Innovation in North America, the 2006 Whitaker Innovation Award in Europe, and the 2006 118 Tracker Award for Technology Innovation in the UK. For more information, please visit our website at www.callgenie.com or call directly at +1 403 268 0411.

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