Ad hoc:WizCom Technologies Ltd.:Ad hoc: Change of Supplier Leads to Delay in Revenue Realization
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Rosh Ha'ayin, June 23, 2010 - Wizcom Technologies Ltd. (Prime Standard:
WZM, IL 0010830706) announces, that due to the transition period following the
change of suppliers, the Company expects to post a substantial revenue decline
for Q2 2010. Management anticipates revenues for the second quarter to be below
US$ 1 million, as the supply of finished goods by newly contracted CAM Group
will only commence in July 2010. This delay in supply furthermore is expected to
lead to a further increase in the net loss for the relevant quarter.CAM Group,
an Israeli electronic subcontractor, was nominated to become a supplier and
assembler of Wizcom products as of March 2010.
Teliran (1993) Ltd, Wizcom's exclusively commissioned supplier until
February 2010, advised Wizcom of its unilateral decision to discontinue supply
of finished products to Wizcom following Wizcom's decision to engage CAM Group.
As deliveries are assumed to resume by July 2010, management expects that
the Company has sufficient liquidity to reach positive cash flow generation for
the year 2010, subject to deliveries resuming.
For further information, please contact:
WizCom Technologies Ltd.
Shimon Amouyal, CEO
13 Hamelacha St.
Rosh Ha'ayin, 48091, Israel
Telefon +972-3-9103330
shimona(at)wizcomtech.com
http://www.wizcomtech.com
SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Telefon +49-611-1745-398-11
Schwarz(at)schwarzfinancial.com
[HUG#1426744]
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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 Stuttgart,
Freiverkehr in Börse Berlin,
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Freiverkehr in Bayerische Börse München,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;
Ad Hoc Release as PDF: http://hugin.info/130210/R/1426744/374585.pdf
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Source: WizCom Technologies Ltd. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 23.06.2010 - 19:14 Uhr
Sprache: Deutsch
News-ID 22932
Anzahl Zeichen: 0
contact information:
Town:
Jerusalem
Kategorie:
Business News
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