Pacific WebWorks, Inc. (OTCBB:PWEB) reported today that the company experienced record growth in revenues, profits, new customers and cash provided by operations for the year ended December 31, 2007. Revenues for the year ended December 31, 2007 of $10,711,770 amounted to 250% of revenues for the year ended December 31, 2006 of $4,299,681. The most significant growth came from recurring hosting, gateway and maintenance fees which grew to $8,968,344, up 750% from $1,044,309 in 2006. Nearly 90% of company revenues are now recurring monthly revenues related to the hosting services which the company provides to its portfolio of customers. Net income from continuing operations before tax for 2007 increased $1,302,661 from a loss of ($1,026,433) in 2006 to a gain of $276,228. Net income after income tax benefit amounted to $876,228 for the year ended December 31, 2007. Cash provided by operations for 2007 increased by $1,187,120 to $822,574, up from a deficit of ($364,546) for 2006. Ken Bell, CEO, stated, �2007 was a landmark year in the history of Pacific WebWorks, Inc. We enjoyed record success in revenues, profits, cash flows and new customers added while significantly strengthening our balance sheet. Our new marketing initiatives have been instrumental to our success leading to an increase in our active customer base of over 600% from approximately 6,500 customers at year end 2006 to nearly 40,000 customers at year end 2007.� Bell added, �Due to our dedicated staff and the quality and sophistication of our internal infrastructure, we were able to facilitate this growth with a minimal amount of disruption. We recently relocated our operations into a new facility that positions the company for the continued growth expected in 2008 and beyond. We are in the development stage on several exciting new offerings that we believe will be well received by the marketplace.� 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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