PWEB Pacific WebWorks Reports Record Revenues and Profits

Pacific WebWorks Reports Record Revenues and ProfitsBusiness Wire "US Press Releases "
SALT LAKE CITY--(BUSINESS WIRE)--
Pacific WebWorks, Inc. (OTCBB: PWEB) reported record revenues of $7,996,457 for the nine month period ended September 30, 2007 and a record quarterly profit of $266,809 for the 3rd quarter ended September 30, 2007.
Revenues for the nine months ended September 30, 2007 amounted to 228% of revenues for the like period in 2006. Profits of $277,958 for the 2007 nine month period represents an increase of $610,587 from a loss of ($332,629) for the nine month period ending September 30, 2006. Cash and cash equivalents, including restricted cash, amounted to $1,351,984. This represents an increase of $847,586 from cash and cash equivalents, including restricted cash, of $504,398 at December 31, 2006.
The most dramatic increase in revenues continues to be in the area of recurring hosting, gateway and maintenance fees. These fees amounted to $6,601,257 through the nine months ended September 30, 2007, up from $819,892 for the same period in 2006, an increase of over 700%.
CEO Ken Bell stated, "As we approach the end of what we project to be the most successful year in our company's history I am very pleased to be able to report our progress through the first nine months of the year. As I have mentioned previously, the extensive development of our online marketing campaigns has been invaluable to our progress. We look forward to expanding our media contacts and marketing partnerships over the coming months, which we expect to result in continued profitable growth and ultimately shareholder value."
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 wholly owned subsidiary IntelliPay develops and provides trusted electronic transaction processing and payment products and services.
Pacific WebWorks wholly owned subsidiary TradeWorks Marketing is a sales and marketing organization created to market Pacific WebWorks and IntelliPay products.
Forward-Looking Statements This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The company's actual results could differ materially from expected results.
Source: Pacific WebWorks, Inc.