Wizzard Software (AMEX: WZE) announced today that it posted record
revenues of $1,668,478 for the first quarter of 2008, a 130% increase
over revenues of $725,926 in the first quarter of 2007.
Wizzard posted a gross profit of $666,841 during the first quarter of
2008, a 159% increase over a gross profit of $257,333 in the first
quarter of 2007.
Wizzard's software business (digital media & speech) recorded revenues
of $655,347 in the first quarter of 2008 versus $297,101 in 2007, a 159%
increase. Wizzard's legacy healthcare business recorded revenues of
$1,013,131 in the first quarter of 2008 versus $428,825 in the first
quarter of 2007, a 136% increase.
Additionally, Wizzard recapped several business accomplishments for the
first quarter of 2008, including:
Wizzard begins trading on American Stock Exchange.
Wizzard’s publishing platform grew with the
addition of over 1,268 shows and 51,961 episodes.
Wizzard Media grew to 11,807 publishers using its platform.
Wizzard signed 10 new network publishers to its PRO enterprise
platform.
Wizzard announced 16 advertising campaigns to date under new ad sales
efforts.
Wizzard’s Nielsen//NetRatings Certified
download impressions grew by 19.8%.
Wizzard announces consumption growth with 41.9% of audience watching
for less than one year.
Wizzard says over 33,000 keywords identified for ad sales using speech
recognition.
In the first quarter of 2008, Wizzard outlined strong international
audience growth in China, which now makes up the fourth largest consumer
of content on the Wizzard Media Network. Outside the U.S., countries
representing the largest consumers of Wizzard-hosted digital media
content are: Canada - 4.2%; Great Britain - 3.2%; China - 3.1%; Japan -
1.7%; and Germany - 1.6%. In addition to China, many South American
countries are growing rapidly in terms of audiences and consumption
rates, including Colombia and Ecuador.
Also in the first quarter of 2008, Wizzard announced a content licensing
and advertising agreement with YouTube. As a YouTube content partner,
Wizzard will have their own branded channel that will enable users to
access streaming video from the Wizzard Media Network. Through this
agreement, YouTube will run ads against the shows in Wizzard's YouTube
Channel and share with Wizzard any ad revenue generated. In addition to
the ad revenue generated by increased audience and advertising
opportunities, the agreement with YouTube will also allow for content
from the Wizzard Media Network to be incorporated into the Google
AdSense Network. Through this program videos from the Wizzard Media
Network are blanketed across thousands of websites participating in the
Google AdSense service. Wizzard will receive a share of revenues for
certain ads displayed in connection with the playback of the videos.
Wizzard will share a percentage of these revenues collected with the
publishers.
The previously mentioned numbers and statements are only highlights from
Wizzard's first quarter 2008 10Q filing. For a complete and detailed
financial description of Wizzard Software Corporation, please visit www.sec.gov,
where the above-mentioned filing 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 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 lead to expanding speech technology opportunities in
government and commercial sectors, including several healthcare industry
products and services. Most recently, Wizzard Software entered the
exciting new realm of digital media and is already the world’s
largest distributor of digital media via RSS (podcasts). For more
information, please 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.
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