Ad hoc:WizCom Technologies Ltd.:Ad hoc: Wizcom Technologies Releases 2009 Annual Results

WizCom Technologies Ltd. /  / Ad hoc: Wizcom Technologies Releases 2009 Annual Results processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. 
 
Rosh Ha'ayin, March 31, 2010 - Wizcom Technologies Ltd. ("Wizcom") (Prime
Standard: WZM, IL 0010830706) today announces the financial results for the
fiscal year 2009 according to US-GAAP.
 
Key Financials
 
* Revenues for the full year 2009 went down by 21.7% to US$ 5.60 million
    (2008: 7.15 million), in Q4 2009, revenue fell down by 17.6% to 1.12 million
    (1.36 million).
  * Gross margin for the full year 2009 was 28% compared to 38% in the previous
    year.
  * An operating loss was recorded for 2009 US$ 2.421 million versus an
    operating loss of 1.808 million for 2008.  For Q4, the operating loss was
    US$ 1.926 million versus a loss of US$ 1.004 for Q4 2008.
  * In 2009, the company wrote off inventory in the amount of US$ 292,000
    basically consisting of raw materials. In addition, the Company has
    completed an impairment analysis related to the fully owned subsidiaries
    Ligature and Galil. As a result, the carried goodwill of US$ 733,000 for
    Ligature was completely written off. Another US$ 174,000 of goodwill was
    written off for Galil, totaling to a US$ 1.199 million of non-cash expenses.
  * Net loss for 2009 came in at US$ 2.505 million (2008: US$ -1.759 million),
    and a loss of US$ 1.988 for Q4 (-955 thousand).
  * Net loss per share for 2009 was US$ 0.21 (2008: 0.148), and US$ 0.167 in Q4
    (2008 Q4: 0.081).
  * Cash and cash equivalents as of 31st December 2009 stood at US$ 677
    thousand, compared to US$ 194 thousand for 31st December 2008.
 
For detailed information we refer to the press release.
 
For further information, please contact:
 
WizCom Technologies Ltd.
Shimon Amouyal, CEO
13 Hamelacha St.
Rosh Ha'ayin, 48091, Israel
 
Telefon +972-3-9103330
shimona@wizcomtech.com
http://www.wizcomtech.com
 
SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Telefon +49-611-1745-398-11
Schwarz@schwarzfinancial.com
 
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WizCom Technologies Ltd.
8B Hamarpe St. Jerusalem Israel
 
WKN: 915856;ISIN: IL0010830706;Index:TECH All Share,Prime All Share;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;