Preferred Voice Reports Fourth Quarter and Fiscal Year End 2003 Results
DALLAS, TX - (July 1, 2003) - Preferred Voice, Inc. (OTCBB: PFVI), reported
financial results for the fourth quarter and fiscal year ending March 31, 2003.
Total revenue for the fourth quarter ending March 31, 2003 was $518,360,
compared to $613,883 for the same period ending March 31, 2002. Voice Accessed
Dialing (VAD) fees increased from $398,883 in the quarter ending March 31, 2002
to $518,360 in the quarter ending March 31, 2003. The decrease of revenues in
the comparable quarters were due to one-time engagement fees for network
services of $215,000 reported in the quarter ending March 31, 2002. Net loss for
the fourth quarter ending March 31, 2003 was $236,593 compared to net loss of
$883,406 in the fourth quarter ending March 31, 2002. Net loss per share for the
quarter ending March 31, 2003 was $0 .02, compared to a net loss of $0.05 per
share in the quarter ending March 31, 2002.
Total revenue for the fiscal
year ending March 31, 2003 was $2,124,876, up 44 percent compared with
$1,474,465 in fiscal year ending March 31, 2002. Net loss for the fiscal year
ending March 31, 2003 was $1,251,953 compared to net loss of $3,835,115 for the
fiscal year ending March 31, 2002. Net loss per share for fiscal 2003 was $0.07,
compared to net loss per share of $0.23 for fiscal 2002.
Mary Merritt,
Interim CEO, stated, "We are very pleased with all that we accomplished in
fiscal 2003. We have completely focused our efforts on building our customer
relationships and providing services to our customers that generate higher
average rates per user. We have introduced two new products to our customers,
Push2Connect and Remind Me. Both are in their early marketing and testing phases
with various carriers."
"Our goals for fiscal 2004 are to become
profitable and cash flow positive, continue to sign new customers, search for
additional services that complement our current line of services and continue to
upgrade our network to stay current with industry changes. We're looking forward
to a challenging year."
Preferred Voice, Inc. is a leading voice
recognition technology company that provides enhanced services to wireless, ILEC
and CLEC companies across the United States. For more information please visit
Preferred Voice This press
release contains forward-looking statements. Since all statements about
Preferred Voice's plans, estimates and expectations are based on current
projections that involve risks and uncertainties, and are subject to change at
any time, the company's actual results may differ materially from expected
results. Readers should consider these risks and uncertainties, which are
discussed in documents filed by Preferred Voice, Inc., with the Securities and
Exchange Commission. These documents identify important factors that could cause
the actual results to differ materially from those contained in the
forward-looking statements. Preferred Voice, Inc. expressly disclaims any
obligation to update any forward-looking statements.
Company Contact:
Mary Merritt
Interim CEO
(214)265-9580