[November 14, 2014] |
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Pacific WebWorks, Inc. Discusses 2014 Third Quarter Report
SALT LAKE CITY --(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 re 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.
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