-- For the first six months of 2005, revenues advanced 595 percent
to $1.6 million over the comparable period in 2004;
-- Net profit during the first six months was $307,776 versus a
net loss of $504,709 for the same period in 2004;
-- Company's MOMA Service Delivery Platform (SDP) continues to
gain market share and attract new blue-chip customers.
WILMINGTON, Del., Aug. 15, 2005 (PRIMEZONE) -- m-Wise, Inc. (OTCBB:MWIS), a leading technology provider of mobile content solutions for operators, ASPs, and content providers, on Friday reported that total revenues for the second quarter, ended June 30, 2005, increased 227 percent to $359,233 compared to the $109,709 in the second quarter a year ago.
Six Months Financial Results
For the six months ended June 30, 2005, m-Wise reported that consolidated revenues advanced 595 percent to $1.6 million from $233,678 recorded in the same period last year. The increase was primarily attributable to revenues of $1.1 million derived from the company's contract with First Advanced Multi-Media Entertainment, a wireless ASP based in the Philippines.
Net income for the six-month period ended June 30, 2005, was $307,776 compared with a net loss of $504,709 for the same six-month period a year ago. Gross profit climbed to $1.3 million compared to $186,304 in the same period of the previous year.
"m-Wise continues to improve its financial results. We are focused on exploring new business opportunities to expand our market share with our MOMA Service Delivery Platform, while we continue to enhance our technology offering to provide one of the industry's most robust mobile content delivery platforms," said Shay Ben-Asulin, chairman and co-founder of m-Wise, Inc. "Our focus continues to be on growing our customer base, seek attractive synergetic acquisitions and maximizing shareholder value."
m-Wise's MOMA Service Delivery Platform (SDP) provides one of the industry's most robust and critical platforms for mobile operators, wireless ASPs and large content and media providers. The MOMA SDP comprises a large variety of value-added services, including key services such as content management and delivery, infotainment, voting and chat that have been launched through more than 50 European, Latin American and Asian networks. The MOMA SDP combines IT marketing, customer care and billing into one unified solution to help companies increase data traffic and premium revenues while considerably minimizing capital, commercial, training and the technical requirements to do so.
m-Wise's full financial results for this quarter are available at the company's SEC filings.
About m-Wise
Founded in February 2000, m-Wise has rapidly established itself as a leading technology provider with the de facto Service Delivery Platform and related value-added data engines for mobile operators, wireless ASPs, and large content and media providers.
Working closely with leading operators, ASPs and content providers, m-Wise is committed to taking the lead and keeping up to date with the latest industry headways in areas as diverse as content management and delivery, infotainment, mobile gaming and mobile community services. For more information, please visit http://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.