VANCOUVER, BRITISH COLUMBIA, May 21, 2012 (MARKETWIRE via COMTEX) WordLogicÂ® today announced financial results for its fiscal 2012 first quarter ended March 31, 2012. The Company posted quarterly revenue of $5 million and quarterly net profit of $3.8 million, or $.05, basic net income per share and $.04 diluted net income per share. These results compare to revenue of $10 and net loss of $.67 million, or $.10 basic and diluted net loss per share, in the year-ago quarter. Licensed patent sales accounted for 99 percent of the quarterâ€™s revenue.
“For the first time in the history of WordLogic, we achieved a significant licensing deal which leveraged our substantial intellectual property portfolioâ€, said CEO Frank Evanshen, â€œand to generate a $.05 per share earnings for this first quarter is tremendous and only the beginning of our expected success this coming year”.
Mr. Evanshen continued, “as we look ahead to the remainder of 2012 and beyond, we are well prepared and positioned to continue improving our operating results by controlling costs and capitalizing on new licensing opportunities as well as launching WordLogic patented predictive products for the mobile and tablet marketplace globally.”
WordLogic demonstrated the new WordLogic Android Mobile App at CTIA Wireless 2012 May 8-10, 2012 in New Orleans, La..