CORRECTING and REPLACING Fonix Previews 2nd Quarter & Year-to-Date Financial Results
Wednesday July 11, 12:59 pm ET
SALT LAKE CITY--(BUSINESS WIRE)--Third graph, first sentence of release dated July 10, 2007 should read: "As we review and compare our six-month revenues for 2007, Fonix is pleased to report a 57 percent increase over the previous year, and a 75 percent increase in the second quarter over the previous year," says Thomas A. Murdock, Fonix President and CEO (sted "As we review and compare our six-month revenues for 2007, Fonix is pleased to report a 63 percent increase over the previous year, and a 56 percent increase in the second quarter over the previous year," says Thomas A. Murdock, Fonix President and CEO).
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The corrected release reads:
FONIX PREVIEWS 2ND QUARTER & YEAR-TO-DATE FINANCIAL RESULTS
Fonix Corporation (OTC BB: FNIX - News) previews year-to-date financial results for 2007 for its wholly owned subsidiary, Fonix Speech, Inc., which specializes in embedded speech interfaces for mobile devices, handheld electronic products, video game systems and processors.
Six-month Fonix revenues were estimated to be $1,004,000 for the period ended June 30, 2007, compared to $639,000 for the same period in 2006. Second quarter revenues for 2007 were estimated to be $644,000 compared to $367,000 for the same period in 2006.
"As we review and compare our six-month revenues for 2007, Fonix is pleased to report a 57 percent increase over the previous year, and a 75 percent increase in the second quarter over the previous year," says Thomas A. Murdock, Fonix President and CEO. "This growth represents recurring revenue from certain niche markets in the speech technology industry, particularly our success with some of the largest electronic dictionary manufacturers in the world."
"Fonix continues to gain market share of the growing business for e-dictionary middleware in Asia," says Roger D. Dudley, Fonix Executive VP and CFO. "This year, the number of e-dictionary manufacturers paying unit royalty fees to Fonix for licensed speech technologies has increased four-fold. Fonix also now has business relationships with three of the four largest manufacturers selling into the e-dictionary market in Asia."
The results described above may be adjusted as the Company completes the preparation of its financial reports for the second quarter of 2007. Accordingly, actual results may vary from those set forth herein. Fonix will disclose the full financial report in the Company's Form 10-Q, due to be released prior to August 15, 2007.
About Fonix
Fonix Corporation (OTC BB: FNIX - News), based in Salt Lake City, Utah, currently operates through its wholly owned subsidiary, Fonix Speech, Inc., an innovative speech recognition and text-to-speech technology company that provides value-added speech solutions. Fonix Speech offers voice solutions for mobile/wireless devices; interactive video games, toys and appliances; computer telephony systems; the assistive market and automotive telematics. Fonix Speech provides developers and manufacturers with cost-effective speech solutions to enhance devices and systems. Visit www.fonix.com for more information, or call (801) 553-6600 and say "Sales."
Statements released by Fonix that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the Company's business prospects and performance. The Company's actual results could differ materially from those in such forward-looking statements. Risk factors include general economic, competitive, governmental and technological factors as discussed in the Company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The Company does not undertake any responsibility to update the forward-looking statements contained in this release.
Contact:
Fonix Corporation, Salt Lake City
Investors and shareholders contact:
Michelle Aamodt, 801-553-6736
investorrelations@fonix.com
Media and press contact:
Elizabeth Sweeten, 801-553-6617
mediainfo@fonix.com
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Source: Fonix Corporation
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