Wizzard Software (NYSE MKT: WZE), the world’s leading podcast network, today announced financial results for the second quarter ending June 30, 2012. Total revenue for the second quarter was $2,037,118 compared with $1,460,435 in the second quarter of 2011, an increase of 39%. Wizzard achieved a gross profit of $915,199 for the second quarter of 2012, versus a gross profit of $644,711 in the second quarter of 2011, an increase of 42%. The second quarter results were highlighted by a strong performance by Wizzard's Healthcare business that saw revenues up 50% in the second quarter of 2012 vs. the second quarter of 2011 and Wizzard’s Media business that saw revenues up 25% in the second quarter of 2012 vs. the second quarter of 2011. Operating expenses totaled $1,251,745, a 16% increase from operating expenses of $1,075,048 million in the second quarter of 2011 due to acquisition related costs and non-cash expenses. Net loss available to common shareholders, including non-cash and acquisition related expenses, was $330,138 or $0.04 per share, in the quarter ended June 30, 2012. This represents a 23% decrease from a net loss of $428,743, or $0.06 per share, in the second quarter of 2011. “In the second quarter of 2012, Wizzard entered into a definitive share exchange agreement for the acquisition of FAB, signed podcast deals with Adam Carolla and George Lopez, officially launched our new Facebook App and grew overall revenues by 39%,” says Chris Spencer, Wizzard CEO. “All three of our business segments saw revenue growth and we remain very excited about our imminent acquisition of FAB and the spin-off of our healthcare operations. With our healthcare business seeing 50% revenue growth in the second quarter vs. the same period in 2011, we believe our shareholders have an opportunity to realize increased asset value with the planned spin-off and we look forward to announcing the record date in the next several days.”
The previously mentioned numbers and statements are highlights from Wizzard’s 2012 second quarter 10Q filing. For a complete and detailed financial description of Wizzard Software Corporation, please visit www.sec.gov, where all of Wizzard’s SEC filings can be found.Chris Spencer, CEO, and John Busshaus, CFO, will host a conference call on Thursday, August 16th at 11:00 a.m. ET to review and discuss 2012 Q2 financial results and provide a brief business update. Shareholders and other interested parties may participate in the conference call by dialing 1-877-407-0778 (U.S. callers); 201-689-8565 (international callers) a few minutes before the call start time. The call will be broadcast simultaneously and archived on the Internet at: http://www.investorcalendar.com/IC/CEPage.asp?ID=169498 Questions for consideration for the call can be emailed to firstname.lastname@example.org prior to 9:00 a.m. ET, on August 16th, 2012. About Wizzard: Wizzard Media provides podcast publishers with distribution and monetization services. Our clients include Microsoft, National Geographic, Harvard Business Review, NPR and more than 10,000 others who use Wizzard Media products to measure their podcast audience, deliver popular audio and video entertainment and monetize their content through advertising and App sales and subscriptions. In 2011, the Wizzard Media Network received well over 1.64 billion podcast requests from approximately 50 million people worldwide through iPods, iPhones, iPads, iTunes, Blackberrys, Windows Phones, Androids and many other devices and destinations. We are part of a publicly held, Pittsburgh based company with thousands of shareholders and a world-class team. Visit us on the web at www.wizzardsoftware.com/media, email us at email@example.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.