WizCom Technologies Ltd. / WizCom Technologies Releases Q1 2010 Results processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. 

Lower Revenues Due to Supply Issues

Rosh Ha'ayin, May 31st, 2010 - WizCom Technologies Ltd. ("WizCom") (Prime
Standard: WZM, IL 0010830706), a leading global provider of handheld scanning
and translation tools, today announces its results for the first quarter of
2010. Figures in this press release are according to US-GAAP and in US$
thousands.

Financial Highlights

  * Revenues for the first three months of 2010 fell by 24.2% compared to the
    same period last year, from US$1,705 to US$1,293, mainly due to delay in
    product shipping as a result from the conflict with Teliran (1993) Ltd.
  * Gross profit margin for the first three months of 2010 remained at 38%.
  * An operating loss of US$208 was posted, as compared to a US$146 operating
    loss for the first three months of 2009.
  * Total operating expenses for the first three months of 2010 were down 11% to
    US$702 from US$792.
  * Net loss increased compared to the same period last year from US$112 to
    US$309, mainly due to the lower revenues.
  * Basic and diluted net loss per common share was US$0.026, compared to
    US$0.009 for the same period last year.
  * As of March 31st 2010, the Company had cash and cash equivalents of US$565,
    as compared to US$677 for December 31st, 2009.  Compared to 31st March
    2009, cash was up from US$240.


Operations

Mr. Shimon Amouyal, CEO for WizCom, stated, "As we announced in February of this
year, the first quarter was characterized by the conflict with our long-term
exclusive turn-key supplier, Teliran. In analyzing historical payments, we came
across what we considered inconsistencies in the pricing method versus what had
been contractually agreed. The conflict resulted in tension in the relationship
with Teliran, as well as the resignation of former Chairman of the Board, Mr.
Ronen Elad. Teliran recently notified the Company that it deems the supplier
agreement to have been terminated (on 6 months' advance notice) by the Company.
The Company denied this and Teliran's position was rejected as under the terms
of the agreement, Teliran was obliged to continue shipments of product."

"The dispute caused a delay in the shipping of finished products and the Company
was forced to make new supply arrangements. At the beginning of March, an
additional non-exclusive supplier was engaged in the form of the CAM Group, with
first shipments expected during the first half of May and stability in the
supply process to follow. In the interim, the Company has experienced delays in
the supply from Teliran. The Company finished assembly of data and evidence,
which substantiate significant claims against Teliran and intends to initiate
legal proceedings against both Teliran and Mr. Elad in the third quarter of
2010. Details will be made public upon submission of the claim and to the extent
such may be legally advised."

Operationally, the Company continues to see the improvement in market
conditions, which was signaled in earlier reports, and our strategy to diversify
our sales channels is generating good results."

Outlook

"Although too early to provide figures on our expectations in relation to Q2, we
are confident that now the supply issues are dealt with and the markets continue
to recover, we will post growth in the coming quarters. We anticipate reaching
breakeven as well this year, though as before, it is too early to say exactly
when. Our cost cutting program, sales channel diversification and product
development all are on track and our liquidity should see us through to
profitability."

The full Q1 report is provided as PDF download attached to this message.



About Wizcom Group:

WizCom Technologies Ltd. is the world's leading producer of personal, portable
scanning pens that help people read and process text. These pocket-sized,
user-friendly devices enable people to understand and use printed material,
anytime and anywhere, without disrupting their reading process. Our pens help
students of English as a first or second language, as well as people working in
multilingual environments, enhancing their fluency and expediting reading
comprehension.

WizCom Technologies Inc, Boston, US-based entity, responsible for WizCom Group
operations in the Americas.

Ligature Ltd. is a world leader developer of Optical Character Recognition (OCR)
technologies and applications. The company offers innovative approach to OCR
based solutions for specialized markets partnering with OEMs, VARs and system
integrators incorporating CharacterEyes into software applications and hardware
products.

Galil Microwaves Israel (2003) Ltd. is a third party manufacturer and assembler
of electronic modules for microelectronic and microwave components.

For further information, please contact:

WizCom Technologies Ltd.
Shimon Amouyal, CEO
13 Hamelacha St.
Rosh Ha'ayin, 48091, Israel
Telefon +972-3-9103330
shimona@wizcomtech.com
http://www.wizcomtech.com


SCHWARZ Financial Communication
Frank Schwarz
Investor Relations
Telefon +49-611-1745-398-11
Schwarz@schwarzfinancial.com


[HUG#1420297]



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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,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;


    Full Q1 Report as PDF: http://hugin.info/130210/R/1420297/369941.pdf