CallWave Announces Financial Results for Fourth Fiscal Quarter and Year End 2007.SANTA BARBARA Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , Calif. -- CallWave, Inc. (Nasdaq: CALL), an innovator of applications that make phones and PCs work better together, today reported financial results for the fourth fiscal quarter and year end June 30, 2007. Total revenue for the fourth quarter of fiscal 2007 was $5.5 million compared to $6.2 million reported in the third quarter of fiscal 2007. Net loss for the fourth quarter of fiscal 2007 was $2.3 million, or $(0.11) per share, compared to a net loss of $2.6 million, or $(0.12) per share reported in the third quarter of 2007. Total revenue for fiscal year 2007, was $25.2 million compared to $36.6 million reported in fiscal year 2006. Net loss for fiscal year 2007 was $7.5 million, compared to a net loss of $2.0 million in the previous year. CallWave ended the fiscal year with $52.7 million in cash, cash equivalents, and marketable securities Marketable Securities Very liquid securities that can be converted into cash quickly at a reasonable price. Notes: Marketable securities are very liquid as they tend to have maturities less than one year, and the rate at which these securities can be bought or sold has compared with $60.9 million in the prior fiscal year. Cash was primarily impacted by the ongoing litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. expense with J2 and subsequent lump sum Lump sum A large one-time payment of money. settlement of $4 million in the third quarter of fiscal 2007. In addition, CallWave also announced a resource realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. and staff reduction to support the Company's strategic growth initiatives and channel development. "Fiscal Year 2007 was an important year for CallWave as we focused on launching new products, evaluating distribution channels and scaling our subscriber base," said Mark Stubbs, acting Chief Executive Officer of CallWave. "Looking forward, we have defined a three point plan for growth and a return to profitability. This plan is grounded in launching products and services that will add greater value to the end user experience which we can then monetize, gaining traction and scale with carriers and channel partners, and prudently managing cash in support of our growth drivers." Conference Call Details The CallWave Fourth Quarter 2007 teleconference and Webcast is scheduled to begin at 4:30 p.m. Eastern Time, on Tuesday, August 21, 2007. To access the call, please dial (800) 257-7063, or outside the U.S. (303) 262-2141, at least five minutes before start time. A live webcast and replay will also be available on the investor relations Investor relations The process by which the corporation communicates with its investors. section of the Company's website http://www.callwave.com. An audio replay of the call will also be available to investors beginning at 6:30 p.m. ET on August 21, 2007, through September 4, 2007, by dialing (800) 405-2236, or (303) 590-3000, and entering the passcode 11096049#. About CallWave CallWave is leading the way in developing applications that make phones and computers work better together. With CallWave, tasks that are difficult to do on the phone become much easier on the desktop - without changing phone numbers, handsets or service providers. CallWave enables consumers and businesses to get more out of the devices they use everyday - their computers and phones. CallWave also private-labels convergence applications, such as PC-based visual voicemail Visual Voicemail or Random Access Voicemail is the process of adding a visual aspect to mobile phone voicemail and allowing users to listen to their messages in the order of their choice. , to service providers to reduce churn churn: see butter. , expand on-line marketing and drive revenues. Founded in 1998, CallWave is headquartered in Santa Barbara, California Santa Barbara is a city in California, United States. It is the county seat of Santa Barbara County, California. As of the 2000 census, the city had a total population of 92,325. . For further information, please visit www.callwave.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release may contain certain statements of a forward-looking nature. Such statements are made pursuant to the "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " and "safe harbor" provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws. Such forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to them. The Company has no obligation to update such forward-looking statements. Actual results may vary significantly from these forward-looking statements. 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