Pacific WebWorks Further Discusses 2009 Financial Results
April 12 2010 - 6:00AM
Business Wire
Pacific WebWorks, Inc., www.pacificwebworks.com, (OTCBB:PWEB)
further discusses 2009 full year financial results.
Pacific WebWorks last week released its 2009 financial results
and commented on its 2009 revenue numbers. Further comment should
be made towards two additional sets of numbers that reflect
significant improvement in the company's ongoing operations.
The company’s net income for the fiscal year of 2009 was
$4,817,492, compared to $490,895 for the fiscal year 2008 and cash
generated from operations for 2009 was $4,429,521 compared to a
cash flow loss of $308,322 for the year 2008.
CEO Ken Bell stated, “As indicated in last week’s press
release, the company attributes its current financial success
to its unique suite of products and its innovative, targeted
marketing strategies. The company believes its line of
products and services will allow it to market and provide its
services even more cost effectively for the company and for its
consumers. Our success over recent years is significant as
it evidences these trends. We believe in the coming years
these numbers will show even more improvement as we continue to see
more profitability per dollar of revenue. We appreciate the
commitment of our staff and the continuing support of our customers
and 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 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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