SOURCE: m-Wise, inc

April 02, 2007 12:46 ET

m-Wise Shows Operational Profit in 2006

Profit Share Model Continues to Grow: 304% Growth in 2006!

WILMINGTON, DE -- (MARKET WIRE) -- April 2, 2007 -- Mobile content technology vendor, m-Wise (OTCBB: MWIS), today announced its consolidated financial results for the fiscal year ended December 31, 2006.

Financial Results

During 2006 we have significantly strengthened our balance sheet: Total Liabilities decreased to $1,425,007 as of December 31, 2006 from $3,425,107 as of December 31, 2005. Current Assets increased to $647,159 as of December 31, 2006 from $164,506 as of December 31, 2005.

Revenues for the year ended December 31, 2006 rose to $2,230,264, up 3% from $2,168,434 in 2005. Income from revenue share increased 304% to $531,580 for the year ended December 31, 2006 from $131,560 in 2005.

Gross profit climbed to $1,909,480, up 25% from $1,527,020 in 2005. General and administrative expenses decreased 12% to $1,368,060 for the year ended December 31, 2006 from $1,563,174 in 2005. Research and development expenses decreased 15% to $455,160 for the year ended December 31, 2006 from $534,933 in 2005.

Income from operations for the year ended December 31, 2006 was $86,260 compared to loss from operations for the year ended December 31, 2005 of $571,087. Net loss decreased 70% to $196,571 for the year ended December 31, 2006 from $644,692 in 2005.

Full financial results for 2006 are available in m-Wise 10K filing.

"m-Wise marked another exceptional year of growth and profitability in 2006," stated Mati Broudo, co-founder and Chairman of m-Wise. "Our success was substantially driven by our continued strategy from 2005 of providing services-based content delivery platforms to key players in the US and Latin America. This strategy has significantly strengthened our balance sheet and stabilized the company's cash flow. While gross profit grew by 25% compared to 2005, income from revenue share contracts continues to show year-over-year growth of over 300%."

"We enter 2007 with increased confidence in the exploding market of mobile services, in our leading edge platforms and the launch of our new Proactive Mobile Marketing System. We are a more mature organization with a strong brand and a leading industry position, thus we are optimistic looking ahead into 2007 and beyond," 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.

Contact Information

  • For more information, please contact:
    m-Wise IR:
    Adi Armoza
    Email: Email Contact