SOURCE: m-Wise, Inc.

m-Wise, Inc.

March 12, 2010 09:00 ET

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

NEW YORK, NY--(Marketwire - March 12, 2010) -  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.

Contact Information

  • For more information, please contact:

    m-Wise IR:
    Janette Lynott
    Email: Email Contact