Thursday May 16, 8:26 am Eastern Time
Press Release
SOURCE: One Voice Technologies, Inc.
One Voice Technologies Announces 1St Quarter 2002 Results
Revenues Increase 347% from First Quarter of 2001
SAN DIEGO--(BUSINESS WIRE)--May 16, 2002--One Voice Technologies, Inc. (NASDAQ:ONEV - News), developer of 4th Generation voice solutions for the wireless, Telematics, TV/Internet appliance and Interactive Multimedia markets, reports its three month results for the quarter ending March 31, 2002.
Highlights for the first quarter, 2002:
In January 2002, Warner Home Video (WHV) selected and contracted One Voice to develop the world's first voice-interactive DVD-ROM special feature for the DVD release of "Harry Potter and the Sorcerer's Stone." Under this agreement, WHV will exclusively utilize One Voice as its preferred voice vendor with additional titles to be produced.
On January 9, the company announced a partnering with OZ Communications Inc., a Unified Messaging/Presence Management company, to co-develop advanced solutions for the wireless and enterprise markets. The partnership promises to leverage each company's core competencies to bring new, state-of-the-art Presence and Instant Messaging solutions to markets around the world.
On January 16, the company announced its membership in Wireless Village, the Mobile Instant Messaging and Presence Services (IMPS) Initiative. Founded in 2001 by Telecom industry leaders Ericsson, Motorola and Nokia, Wireless Village has gathered industry experts and leading companies in Instant Messaging to generate pre-standards specifications, provide interoperability and to build a community of supporting organizations.
On February 5, the company received a Notice of Allowance from the U.S. Patent and Trademark Office regarding its patent entitled "Object Interactive User Interface Using Speech Recognition and Natural Language Processing". This patent is the first of a series of 4th Generation voice technology patents covering human to computer interaction with Natural Language Processing (NLP) intelligence and Speech Recognition input from desktop, embedded and wireless devices.
On March 18, the company announced the launch and general availability of the MobileVoice(TM) Platform for Wireless Carriers. The MobileVoice Platform consists of a suite of carrier-grade voice subscriber services including: MobileVoice Activated Dialing, MobileVoice Email, MobileVoice SMS, MobileVoice Instant Messaging, MobileVoice Voice Mail and MobileVoice Email Reader.
On April 1, One Voice announced the completion of the voice-interactive DVD-ROM for Warner Home Video. The company's technology will be distributed on every "Harry Potter and the Sorcerer's Stone" DVD globally in six languages. One Voice estimates the distribution of this title alone to exceed 10 million copies, and is currently working with WHV to incorporate the technology into additional DVD-ROM titles.
Q1 Financial Results
For the three months ending March 31, 2002, the net revenues totaled $284,625, up 347% from net revenues of $63,698 for the three months ending March 31, 2001. At the same time, operating expenses decreased to $1,888,097 for the three months ending March 31, 2002 from $2,291,763 for the same period in 2001.
The company had a net loss of $1,633,657 or basic and diluted net loss per share of $0.06 for the three months ending March 31, 2002 compared to $2,248,716 or basic and diluted net loss per share of $0.17 for the same period in 2001.
At March 31, 2002 the company had working capital of $725,547 as compared with $2,802,393 at March 31, 2001.
Subsequent Events
On May 7, 2002 the Company closed a non-exclusive equity financing agreement for up to $5.8 million with Stonestreet Limited Partnership.
Additional information can be found in the company's March 31, 2002 10QSB filing with the Securities and Exchange Commission.
About One Voice Technologies, Inc.
One Voice Technologies, Inc. (NASDAQ:ONEV - News) is the world's first developer of 4th Generation voice solutions for the telecom, telematics, TV/Internet appliance and Interactive Multimedia markets. Our Intelligent Voice(TM) solutions employ revolutionary, patented technology that allows people to send messages (Email, SMS, Instant Messaging and paging), purchase products, get information and control devices - all by using their voice. The company is headquartered in San Diego, California. For more information, please visit onevoicetech.com
FORWARD-LOOKING STATEMENT DISCLAIMER
Some of the statements made in this press release discuss future events and developments, including our future business strategy and our ability to generate revenue, income and cash flow, and should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements can generally be identified by words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," and similar expressions. These statements involve a high degree of risk and uncertainty that exists in the Company's operations and business environment and are subject to change based on various factors that could cause actual Company results, performance, plans, goals and objectives to differ materially from those contemplated or implied in these forward-looking statements. Actual results may be different from anticipated results for a number of reasons, including the Company's new and uncertain business model, uncertainty regarding acceptance of the Company's products and services and the Company's limited operating history.
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Contact:
One Voice Technologies, Inc.
Greg D. Sanfilippo or Dian Griesel, 212/825-3210
gsanfilippo@onevoicetech.com
or
Nick Fuller, (44) 20 7256 5204
nfuller@onevoicetech.com |
