Microsoft Cloud Authors: Pat Romanski, Andreas Grabner, Nick Basinger, Kevin Benedict, Liz McMillan

Related Topics: Government Cloud

News Feed Item

Wizzard Software Announces 2009 Q1 Financial Results and Shareholder Conference Call

Wizzard Software (NYSE Amex: WZE) announced first quarter 2009 financial results today recording revenues of $1,178,573, a 29% decrease from revenues of $1,668,478 in the first quarter of 2008. The decrease for the first quarter of 2009 reflects a decrease in revenue over all business segments due to the economic recession, primarily due to a decrease in our staffing revenues within our healthcare subsidiary.

In the first quarter ended March 31, 2009, operating expenses totaled $1,504,635, which was a 44% decrease from operating expenses of $2,688,581 in the first quarter of 2008.

Management’s efforts over the last two quarters to streamline operations, control spending, decrease the use of consultants and re-structure certain financial instruments reduced our cash spending by approximately $600,000 per quarter.

Wizzard's net loss available to common shareholders was $1,317,753, or $0.03 per share, in the quarter ended March 31, 2009. This represents a 52% decrease from our net loss of $2,751,830, or $0.06 per share, in the first quarter of 2008.

“The first quarter of 2009 was a challenging quarter across all segments of our business,” says Chris Spencer, Wizzard CEO. “We attribute this directly to the severe global recession and expect results to improve as economic conditions improve. We have significantly reduced expenses achieving our goal of cutting $600,000 in cash based expenses per quarter, launched new products in our software business, see continued strength in the home health portion of our healthcare subsidiary, and experienced significant network growth and increased advertising inventory fill in our media business. We also began a new monetization effort for our podcasting business through the use of iPhone Apps which we believe could significantly increase income for our podcast publishers in the 3rd and 4th quarters of this year.”

Wizzard’s Media business saw network download requests of 380,124,773 vs. approximately 275,000,000 download requests in the first quarter of 2008, an increase of 38%. Wizzard's publishing platform grew by over 3,000 new podcast shows in the first quarter of 2009 versus 1,268 in the first quarter of 2008, reaching 20,000 shows for the first time. The audience consuming podcasts from the Wizzard Network grew from 15 million monthly unique audience members at the end of 2008 to 18.3 million unique over the course of the first quarter of 2009, an increase of 3.3 million monthly uniques in the first quarter. While experiencing lower CPM based ad sales due to decreased advertising spending by businesses worldwide, advertising impressions served grew from 8.8 million in the fourth quarter of 2008 to 9.4 million in the first quarter of 2009.

The previously mentioned numbers and statements are highlights from Wizzard’s 2009 First Quarter 10Q filing. For a complete and detailed financial description of Wizzard Software Corporation, please visit www.sec.gov, where the 2009 First Quarter 10Q and all of Wizzard’s SEC filings can be found.

Wizzard will discuss its first quarter 2009 10Q filing during its regularly scheduled conference call on May 19, 2009, at 11:00 a.m. ET. The following is the call-in information: 877-407-0782 (U.S. callers); 201-689-8567 (international callers). The call will be broadcast simultaneously and archived on the Internet at: http://www.investorcalendar.com/IC/CEPage.asp?ID=145079 Questions for consideration for the shareholder call can be emailed to [email protected] prior to 3:00 p.m. ET on May 18, 2009.

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 led 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 and 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.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Druva is the global leader in Cloud Data Protection and Management, delivering the industry's first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence-dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it. Druva's...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
DSR is a supplier of project management, consultancy services and IT solutions that increase effectiveness of a company's operations in the production sector. The company combines in-depth knowledge of international companies with expert knowledge utilising IT tools that support manufacturing and distribution processes. DSR ensures optimization and integration of internal processes which is necessary for companies to grow rapidly. The rapid growth is possible thanks, to specialized services an...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...