Pacific WebWorks Reports 1st Quarter Profits
May 26 2009 - 9:00AM
Business Wire
Pacific WebWorks, Inc. (OTCBB:PWEB) reported net income from
continuing operations of $309,695 or .01 EPS for Q1 2009, ending
March 31, 2009. During the same quarter of the prior year the
company reported $37,594 or .00 EPS.
Revenues increased to $3,237,919 for the quarter compared to
$3,126,034 in Q1 2008.
The company�s current ratio increased to 2.55 from 2.38 during
the same time frame last year.
CEO Ken Bell stated, �Our overall financial condition and
liquidity continue to improve. We expect our quarterly revenues and
earnings will continue to grow. As you can see from the first
quarter results of 2009 we successfully transitioned our marketing
focus away from the higher risk, less profitable incentivized
marketing arena to a more efficient, non-incentivized marketing
approach, resulting in significantly higher profit margins when
compared to the first quarter of 2008.�
Bell concluded, �While revenues for the first quarter of 2009
were up only slightly compared to the first quarter 2008,
profitability increased by a significant amount. This year we
expect revenue and earnings to continue to accelerate throughout
the year.�
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 operates a number of
wholly owned subsidiaries including IntelliPay, TradeWorks
Marketing and others.
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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