Pacific WebWorks Recaps 2007 - Highlights Growth
January 31 2008 - 9:00AM
Business Wire
Pacific WebWorks, Inc. (OTCBB:PWEB) today updated the market on
certain accomplishments achieved throughout the year and outlined
its expectations for 2008. 2007 represents an important period in
the history of Pacific WebWorks, Inc. During 2007 the company
implemented its new marketing initiatives with great success. While
final numbers for the year end December 31, 2007 are not yet
complete the company will finish the year with revenues exceeding
200% of revenues reported in 2006. The company is now cash flow
positive and has transitioned from operating losses from continuing
operations of over $1 million in 2006 to operating profits in
amounts exceeding any previous year in the company�s history. The
company is also free of any debt outside of routine payables and
legacy liabilities related to discontinued operations. Largely due
to the success of our marketing and product promotions in 2007 our
active customer base increased over 600% from approximately 6,500
customers in 2006 to nearly 40,000 customers in 2007. Nearly 90% of
company revenues are now recurring monthly revenues related to the
hosting which we provide to our portfolio of customers. In the near
future the company will announce several new significant
agreements, including new distributor agreements and credit card
processing agreements. Additionally, the company will be announcing
the relocation of its corporate offices into a new,
state-of-the-art facility designed to support continuing growth and
product development. CEO Ken Bell reported, �The growth that we
experienced during 2007 has been very rewarding. We have positioned
ourselves for continued growth and expect 2008 to be a continuation
of the success we experienced in 2007. While our percentage growth
rate will clearly be reduced, we expect our overall growth to
continue at a high rate. Coming off the record year we had in 2007,
we foresee�continued growth and success for 2008 and into the
foreseeable future. We appreciate the commitment of our staff and
the continuing support of our shareholders.� About Pacific
WebWorks, Intellipay and TradeWorks Marketing Pacific WebWorks
provides a comprehensive suite of affordable, easy-to-use software
programs for small businesses that want to create, manage, and
maintain an effective Web strategy including full e-commerce
capabilities. Pacific WebWorks' wholly owned subsidiary IntelliPay
develops and provides trusted electronic transaction processing and
payment products and services. Pacific WebWorks' wholly owned
subsidiary TradeWorks Marketing is a sales and marketing
organization created to market Pacific WebWorks and IntelliPay
products. Forward-Looking Statements This press release contains
certain forward-looking statements. Investors are cautioned that
certain statements in this release are "forward-looking statements"
and involve both known and unknown risks, uncertainties and other
factors. Such uncertainties include, among others, certain risks
associated with the operation of the company described above. The
company's actual results could differ materially from expected
results.
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