Pacific WebWorks, Inc. Discusses 2014 Third Quarter Report
November 14 2014 - 12:52PM
Business Wire
Pacific WebWorks, Inc. (OTCBB: PWEB) today discussed its 2014
third quarter report. The Company highlighted a profitable third
quarter and the new revenue growth that was achieved in its
internet technology business.
Lance Bell, CEO, stated, “Pacific WebWorks achieved substantial
revenue growth both for the 2014 nine month period and third
quarter. Revenues over $5,400,000 for the nine month period were
primarily related to our internet technology business where we
continue to experience strong demand. And our third quarter
revenues topped $3,900,000, marking the Company’s best quarter in
many years.”
Bell further stated, “We are particularly pleased to report a
profitable third quarter. The Company was able to produce net
income in excess of $279,000 from July through September, helping
to substantially reduce the nine month loss as compared to the
prior year’s nine month period.”
Bell continued, “Our total assets were increased primarily as a
result of an increase in receivables related to sales growth in our
internet technology business. And total liabilities are higher due
to deferred revenues also related to growth in sales.”
Bell concluded, “We are optimistic about the business of Pacific
WebWorks and enthused by the successes we have been able to achieve
this year. We remain committed to building value for our
shareholders by producing positive results and growing our
business.”
About Pacific WebWorks
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, our internet
gateway, TradeWorks Marketing, Headlamp Ventures 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, 2013 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.
Pacific WebWorks, Inc.Investor Relations,
801-578-9020ir@pacificwebworks.com
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