WIZCOM TECHN : Increased Quarter on Quarter Revenues

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WizCom Technologies Releases Q3 2009 Results

Rosh Ha'ayin, November 30th, 2009 - WizCom Technologies Ltd.
("WizCom") (Prime Standard: WZM, IL 0010830706), a leading global
provider of handheld scanning and translation tools, today announces
its results for the third quarter and the first nine months of 2009.
Figures in this press release are according to US-GAAP and in US$
thousands.

Financial Highlights

# Revenues for the first nine months of 2009 dropped by 22.7%
compared to the same period last year, from US$5,794 to US$4,478.

# Revenues for Q3 increased by 62% compared to Q2 from US$1,057 to
US$1,716.

# Compared to Q3 2008, revenues increased by 15%.

# Gross profit margin for the first nine months came in at 36%, down
from 39% for the same period last year.

# An operating loss of US$495 was posted, as compared to a US$804
operating loss for the first nine months of 2008.

# Total operating expenses for the first nine months of 2009 were
down 31% to US$2,119 from US$3,082.

# The net loss decreased compared to the same period last year from
US$797 to US$517.

# Basic and diluted net loss per common share was US$0.043, compared
to US$0.067 for the same period last year.

# As of September 30th, 2009, the Company had cash and cash
equivalents of US$118, as compared to US$194 for December 31st, 2008.
Compared to June 30th, 2009, the cash position increased by US$50
from US$68.

Operations

Mr Shimon Amouyal, CEO for WizCom, stated, "After a very tough
period, we are now seeing signs of recovery. We are very pleased that
we have managed to increase our Q3 revenues, both compared to Q2 of
2009 and compared to Q3 of 2008. Although we are not profitable yet,
we continue to improve on our bottom line, both through improved
sales and through our cost cutting program. As a percentage of
revenues, total operating expenses fell further to just below 45% for
Q3, which compares to 49% for H1 2009 and 53% for the first nine
months of 2008.

The changes the company saw earlier in the year, including the
employment of a new management team, are now behind us and we are
moving ahead with our new strategy. An important part of this
strategy is to develop new sales channels, both geographically and in
terms of delivery channels. We have an increased web based presence
and we have signed up new distributors. For example in the US, our
most important market, we have hired 10 new sales agents. Our main
purpose is to get away from exclusive distribution agreements, as we
believe that an increased network of representatives can only
increase the presence of our products at various points of sale.

We are furthermore looking to develop markets where our products have
more of a 'must have' positioning, a good example of which is the
special needs market as we recently announced. That said, we are
trying to focus the company's resources on those markets that have a
sufficient size to be economical. This also means that we are
eliminating our presence in certain niche markets.

Earlier this year we announced that a supply problem could have a
negative impact on both our revenue development and our cash
position. As we found a solution to the problem, the impact of this
event was limited. With regards our liquidity position, we announced
on November 27th, 2009, that we signed a agreement with a number of
investors for the purchase of convertible bonds to the amount of
US$1.2 million."

Outlook
"As for last quarter, we cannot make definite statements with regards
our revenue expectations for the full year. However, the signs are
positive and our backlog is very promising. I remain confident that
we are on the right track and with our improving revenues, falling
costs and capital injection I feel strongly that we have cause for
optimism."

The full Q3 report will be provided as PDF download under
www.wizcomtech.com

A conference call will be held at 14:00 (CET) tomorrow, Tuesday,
December 1st, 2009, to offer analysts, investors and media the
opportunity to directly discuss the results and recent developments
with the CEO and CFO of the company. Please use one of the following
dial-in-numbers: [phone].

About Wizcom Group:

WizCom Technologies Ltd. is the world's leading producer of personal,
portable scanning pens that help people read and process text. These
pocket-sized, user-friendly devices enable people to understand and
use printed material, anytime and anywhere, without disrupting their
reading process. Our pens help students of English as a first or
second language, as well as people working in multilingual
environments, enhancing their fluency and expediting reading
comprehension.

WizCom Technologies Inc, Boston, US-based entity, responsible for
WizCom Group operations in the Americas.

Ligature Ltd. is a world leader developer of Optical Character
Recognition (OCR) technologies and applications. The company offers
innovative approach to OCR based solutions for specialized markets
partnering with OEMs, VARs and system integrators incorporating
CharacterEyes into software applications and hardware products.

Galil Microwaves Israel (2003) Ltd. is a third party manufacturer and
assembler of electronic modules for microelectronic and microwave
components.

For further information, please contact:

WizCom Technologies Ltd.
Shimon Amouyal, CEO
13 Hamelacha St.
Rosh Ha'ayin, 48091, Israel

Phone [phone]
[e-mail]
http://www.wizcomtech.com

SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Germany

Phone [phone]
[e-mail]


 
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WizCom Technologies Ltd.
8B Hamarpe St. Jerusalem Israel

WKN: 
915856; ISIN: IL0010830706; Index: Prime All Share, TECH All Share;
Listed: Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf, 

Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr 
in Niedersächsische Börse zu Hannover, 
Freiverkehr in Bayerische Börse München, Freiverkehr in Börse 
Stuttgart, 
Prime Standard in Frankfurter Wertpapierbörse, Regulierter Markt in 
Frankfurter Wertpapierbörse;
http://hugin.info/130210/R/1358066/330558.pdf


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