SOURCE: m-Wise, Inc.

m-Wise, Inc.

November 13, 2009 09:00 ET

m-Wise Continues Path of Growth -- Revenues and Profitability Increase for the First Nine Months of 2009

m-Wise Financial Results for the Nine Months Ended September 30, 2009 Show an Increase of 17% in Revenues and a Shift From Loss to Profit

NEW YORK, NY--(Marketwire - November 13, 2009) - 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.

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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.

Contact Information

  • For more information, please contact:

    m-Wise IR:
    Adi Armoza
    Email: Email Contact