Pacific WebWorks Update
October 29 2009 - 6:01AM
Business Wire
Pacific WebWorks, Inc. (OTCBB: PWEB) announced today that
consistent with the analyst report dated 10/10/09 the company
expects revenues of at least $28.5MM in 2009, representing a growth
rate of 210% of 2008 revenues of $9.2MM. The market for application
software is expected to grow at a healthy rate during the next five
years, including the small-to-medium-sized segment of this market,
which is expected to grow at a higher pace driven by low
penetration of these services and growing demand.
"We expect substantially improved before tax net profit margins
in the third quarter. Historically the company has maintained net
profit margins in the 4-6% range. The company believes that it
should be able to approach and maintain near double digit net
margins going forward. Third quarter numbers should initiate this
trend. We will release quarterly results in mid-November, and we
plan to host a conference call to address questions," stated Ken
Bell, CEO.
The analyst report can be viewed at www.grassrootsrd.com.
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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