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Wizzard Announces 83% Revenue Growth and Other Second Quarter HighlightsPITTSBURGH --(Business Wire)-- Wizzard Software (OTCBB:WIZD) announced today that the Company recorded record revenues of $1,428,097 during the second quarter ended June 30, 2007, an 83% increase from revenues of $782,046 in the second quarter of 2006 and a 97% increase over revenues in the first quarter of 2007 ($725,926). For the six month period ended June 30 2007, Wizzard recorded revenues of $2,154,023, a 56% increase over revenues of $1,384,437 for the same period in 2006. Wizzard posted a gross profit of $402,695 during the second quarter of 2007, a 20% increase over a gross profit of $334,346 in the second quarter of 2006. For the first six months of 2007, Wizzard posted a gross profit of $659,869, an 18% increase versus a gross profit of $559,199 in the first six months of 2006. Wizzard's software business recorded revenues of $467,687 in the second quarter of 2007 versus $259,008 in the second quarter of 2006, an 81% increase. For the first six months of 2007, Wizzard's software business posted revenues of $764,789, a 90% increase over revenues of $401,900 in the first six months of 2006. Wizzard's legacy healthcare business recorded revenues of $960,410 in the second quarter of 2007 versus $523,038 in the second quarter of 2006, an 84% increase. For the first six months of 2007, Wizzard's healthcare business posted revenues of $1,389,234, a 41% increase over revenues of $982,537 in the first six months of 2006. Additionally, Wizzard announced record downloads for its Wizzard Media podcasting business where it received over 85 million download requests for all hosted podcasts, a substantial achievement management believes, given that historically the summer months tend to show a decline in download requests. Subsequent to the close of the second quarter, Wizzard closed a $7.5 million round of financing and as a result, the second quarter financials include no "Going Concern" note to the financial statements for the first time in the Company's history. In August, 2007, Wizzard announced that it made application to list the Company's common shares on the American Stock Exchange and signed legendary musician, composer, producer Quincy Jones to an exclusive podcast advertising agreement. "Wizzard's overall revenues continue to grow and we expect that to continue throughout 2007 and into 2008," said Chris Spencer, CEO of Wizzard Software. "Our legacy software and healthcare revenues continue to grow but it is our podcasting business where we see hyper growth potential. As we begin to help podcast publishers monetize their shows and supporting properties, we believe our revenue growth will accelerate substantially." The previously mentioned numbers and statements are only highlights from Wizzard's 2007 second quarter 10Q filing. For a complete and detailed financial description of Wizzard Software Corporation, please visit www.sec.gov, where the 2007 second 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. For more information, please visit www.wizzardsoftware.com. Wizzard Media (a division of Wizzard Software), is the industry's leading podcast hosting network. Podcasts are a means for independent and professional content creators to publish audio and video shows for the world to enjoy over the Internet or on mp3 players, such as the Apple iPod. Podcasting is a relatively new phenomenon, but Wizzard Media collectively broadcasts 85 million podcast downloads per month through media aggregators like Apple's iTunes and other podcast directories. For more information, please visit www.wizzard.tv. 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. |
