Wizzard Software announced fourth quarter and full year 2009 financial results today, recording revenues of $1,469,980 in the fourth quarter of 2009, a 2% increase from revenues of $1,440,719 in the fourth quarter of 2008. The increase for the fourth quarter of 2009 reflects an increase in revenue in our media business with the launch of our podcast App products and from an increase in sales of our legacy speech software.
For the full year 2009, Wizzard recorded revenues of $5,193,690, a decrease of 15% from revenues of $6,108,140 for 2008. The decrease for the full year 2009 reflects a decrease in revenue in our legacy healthcare business segment due to the economic recession and a lower demand for healthcare staffing.
During the 4th quarter of 2009 Wizzard’s Media business, where the Company sees large opportunity, has launched many new initiatives and expects most of its future growth to occur, saw a 43% increase in revenue over the fourth quarter of 2008 and a 24% increase in revenue over the third quarter of 2009. The fourth quarter of 2009 was a record quarter for our Media business.
Wizzard’s legacy speech software business saw a 144% increase in revenue in the fourth quarter of 2009 with revenues of $245,876, versus revenues of $100,762 in the fourth quarter of 2008. The 4th quarter of 2009 was one of the Company’s best quarters for speech software sales coming off its best third quarter in Company history.
Wizzard’s legacy healthcare business segment had revenues of $769,339 in the fourth quarter of 2009, versus revenues of $975,667 for the fourth quarter of 2008, a 21% decline. While the healthcare business segment, specifically staffing, was the main reason for the overall drop in fourth quarter and full year revenue, the Company saw continued strength in the home healthcare side of the business with revenues matching the third quarter of 2009.
For the full year ended December 31st, 2009, Operating Expenses totaled $5,724,544, a 35% decrease from Operating Expenses of $8,778,462 for 2008. As a result Wizzard had a Loss from Operations of $3,884,285 versus a Loss from Operations of $6,817,244 in 2008, a decrease of 43%.
Wizzard’s net loss available to common shareholders was $6,509,017, or $0.13 per share, for the full year 2009, versus a net loss of $10,064,948, or $0.23 per share in 2008 and $0.44 in 2007. These numbers include non-cash expenses.
“We believe we are building a strong media asset with our Podcasting and mobile App business and we continue to see accelerated network growth due to a continuing change in people’s entertainment consumption habits,” says Chris Spencer, Wizzard CEO. “With the first six months of App sales under our belt, we see significant growth opportunity for our podcast Apps business. This is the future consumption and monetization model for online media and Wizzard Media is delivering it today. As we continue to be the publishing platform of choice for the best podcast publishers we expect to continue along our path of becoming one of the top global new media powerhouses of the future.
For the full year 2009, Wizzard Media, through its premier podcast-hosting service Libsyn, received 1.4 billion download requests for podcast with an average of 3.77 million requests for podcast episodes per day in 2009. The audience reached by the Wizzard Media network grew to 18 million unique monthly individuals in 2009. The number of podcasts on the Wizzard Media Network grew to 13,463 as of December 31st, 2009.
In mid-2009, Wizzard Media introduced a new monetization product for its podcast publishing customers with the launch of an iPhone(R) podcast App. The newly launched podcast companion App for popular podcasts on the Wizzard Media Network offers audiences access to their favorite podcast directly on their iPhone or iPod(R) Touch, bonus episodes and other content and new social communication features such as Twitter and Facebook, creating an unprecedented level of audience entertainment.
Gartner predicts that 21.6 Billion Apps will be sold/downloaded, in 2013 worth $29.5 Billion. With the new Apple Tablet expected soon and the recent launch of the iPhone in China, Wizzard’s management believes the number of people using iPhones and iPod Touch type devices to consume podcasts and interact with Apps will continue to grow well beyond the current 50 million user-base. To date, Wizzard Media has launched 181 iPhone Apps with top podcast Apps on the Wizzard Network having now converted approximately 28% of their audience from free, to paid. Wizzard plans to expand its Apps to work with Google Android, Palm WebOS and Blackberry in 2010.
Additionally, Wizzard has acquired 15 popular iPhone Apps that it markets via advertisements on its podcast network taking the total number of all Wizzard Apps to 225 with 35 more in the approval process. Subsequent to 2009, Wizzard launched In App Advertising technology for its podcast Apps as well as In-App Purchasing, allowing for future content sales and subscription models.
In 2009, Wizzard executed multiple national brand advertising campaigns for companies including Comcast, Ford, Navy Medical, Go Daddy, Direct TV and Starz HD. These campaigns ran across multiple podcast shows, bringing the total number of advertising campaigns launched in 2009 to 93, with 22 different advertisers and 61.9 million ad impressions. In the fourth quarter of 2009, Wizzard had its best quarter in Wizzard Media history in terms of advertising impressions delivered with 22.4 million ads delivered vs. 14.6 million ads delivered in the third quarter of 2009.
The previously mentioned numbers and statements are highlights from Wizzard’s 2009 10K filing. For a complete and detailed financial description of Wizzard Software Corporation
Source:http://www.marketwatch.com/story/wizzard-software-announces-4th-quarter-and-year-end-2009-financial-results-2010-03-31?reflink=MW_news_stmp