Message #77 From:
NewsBot Date: November 14, 2006 01:51:00 PM
WIZD News Wizzard Software Reports Record Revenues for 3rd Quarter 2006
PITTSBURGH--(BUSINESS WIRE)--Wizzard Software (OTCBB:WIZD) announced today after the market close
that its 2006 third quarter revenues rose by 122% over 2005 third
quarter revenues. This is the seventh consecutive quarter over quarter
of revenue growth for the Company and sets a new revenue record for
Wizzard.
During the three months ended September 30, 2006, Wizzard recorded total
net revenues of $819,590, a 122% increase from total net revenues of
$369,717 in the third quarter of 2005 and a 5% increase over revenues in
the second quarter of 2006 ($782,046). During the nine month period
ended September 30, 2006, Wizzard recorded revenues of $2,204,027, a
149% increase over revenues of $884,798 for the same period in 2005.
Wizzard posted a gross profit of $354,915 during the third quarter of
2006, versus a gross profit of $162,043 in the third quarter of 2005, an
increase of 119%. For the nine month period ended September 30, 2006,
Wizzard posted a gross profit of $914,114 vs. a gross profit of $398,404
for the nine month period ended September 30, 2005, a 129% increase.
Wizzard's net loss was $1,264,522, or $0.04 per share, in the quarter
ended September 30, 2006. This represents an 11% decrease from our net
loss of $1,428,296, or $0.05 per share, in the quarter ended September
30, 2005. Wizzard's net loss was $3,210,976, or $0.09 per share, in the
nine months ended September 30, 2006. This represents a 40% decrease
from our net loss of $5,343,371, or $0.17 per share, in the first nine
months of 2005.
"I'm pleased to announce that in addition to recording record revenue
growth of 122% for the third quarter 2006 over third quarter 2005, we
also show a growth of 5% for the second quarter 2006 to third quarter
2006," said Chris Spencer, Wizzard Software CEO. "As we look back at
these positive results from the first nine months of 2006 and consider
our recent entry into Podcasting, I believe we are gearing up to have a
stellar 2007."
The previously mentioned numbers and statements are only highlights from
Wizzard's 2006 second quarter 10Q filing. For a complete and detailed
financial description of Wizzard Software Corporation, please visit www.sec.gov,
where the 2006 third quarter 10Q and all of Wizzard's SEC filings can be
found.
About Wizzard Software
Founded in 1996, Wizzard Software has become a leader in the speech
technology application development market. Wizzard architects solutions
to business problems using its expertise in consulting, speech
development tools and building speech based applications for the Desktop
and Internet. Wizzard has achieved global recognition because of its
expertise with voice communication whether it is via computer or
telephone. Wizzard's successes have led to expanding speech technology
opportunities in both the government and commercial sectors including
several healthcare industry products and services. For more information,
visit www.wizzardsoftware.com.
Legal Notice
Legal Notice Regarding Forward-Looking Statements: "Forward-looking
Statements" as defined in the Private Securities litigation Reform Act
of 1995 may be included in this news release. These statements relate to
future events or our future financial performance. These statements are
only predictions and may differ materially from actual future results or
events. We disclaim any intention or obligation to revise any
forward-looking statements whether as a result of new information,
future developments or otherwise. There are important risk factors that
could cause actual results to differ from those contained in
forward-looking statements, including, but not limited to risks
associated with changes in general economic and business conditions,
actions of our competitors, the extent to which we are able to develop
new services and markets for our services, the time and expense involved
in such development activities, the level of demand and market
acceptance of our services, changes in our business strategies and acts
of terror against the United States.
