Pacific WebWorks Exceeds Forecast
August 24 2009 - 8:00AM
Business Wire
Pacific WebWorks, Inc. (OTCBB:PWEB) announced today that the
company’s profitability for the third quarter of 2009 will likely
exceed total profitability for the first two quarters combined.
The following factors will contribute to these anticipated
results:
- Customer growth in excess of 140% for Q2 2009 vs. Q1
2009
- Revenue growth of 255% Q2 2009 vs. Q2 2008 and 170%
Q2 2009 vs. Q1 2009
- Revenue for 2009 will exceed the previous forecast
of $24MM
- Q2 revenue growth should result in growth in Q3
profitability
- The company anticipates in excess of a 255% growth
rate in revenues for Q3 2009 vs. Q3 2008
- The company anticipates exceeding 2008 full year
profitability of $491,000 by a significant amount
“We continue to exceed our internal forecasts. We saw strong
revenue growth in the second quarter of 2009, along with positive
cash flow of over $500,000. We expect to exceed this amount in cash
flow in the current quarter. Every measure of financial success,
including bottom line profitability, should continue to improve,”
stated Ken Bell, CEO.
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
All statements other than statements of historical fact included
in this press release are forward-looking statements. Words such as
“anticipate,” “believe,” “estimate,” “expect,” “intend” and other
similar expressions as they relate to the Company or its
management, identify forward-looking statements. Such
forward-looking statements are based on the beliefs of the
Company’s management, as well as assumptions made by and
information currently available to the Company’s management. These
statements are not a guarantee of future performance. Actual
results could differ materially from those contemplated by the
forward-looking statements as a result of certain factors,
including the Company’s ability to maintain sufficient credit card
processing capabilities to service the demands of their hosting
portfolio and other risk factors discussed under the caption “Risk
Factors” in our Annual Report on Form 10-K for the year ended
December 31, 2008 as filed with the Securities and Exchange
Commission. Such statements reflect the current view of the
Company’s management with respect to future events, and are subject
to these and other risks, uncertainties and assumptions related to
the operations, result of operations, growth strategy and liquidity
of the Company. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by this paragraph.
The Company has no intention, and disclaims any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future results or otherwise.
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