Pacific WebWorks Reports Continued Revenue Growth for Third Quarter
15 November 2004
SALT LAKE CITY -- Nov. 15, 2004 -- Pacific WebWorks Inc. (OTCBB: PWEB) today reported financial results for the third quarter ended Sept. 30, 2004.
Revenues for the third quarter of 2004 increased over 210% when compared to revenues for the third quarter of 2003. Revenues for the nine months ended Sept. 30, 2004 are up nearly 170% when compared to revenues for the same period in 2003.
Quarter over quarter revenues increased in virtually every business segment including hosting, gateway and maintenance fees, with the most significant growth coming in the areas of software sales and financial services.
CEO Ken Bell commented, "We continue to be on target to reach our revenue growth objectives for 2004. Our nearly $1 million in revenue for the third quarter represents a new quarterly high since the implementation of our sales and growth initiatives in mid 2003. These results come despite the significant negative effect of deferral accounting on our revenue recognition and earnings/loss per share. Actual cash revenues, before deferrals, for the nine months ended Sept. 30, 2004 amount to a near doubling of reported revenues for a like period in 2003."
Bell concluded, "Our growth, along with the continued enhancement of our data center and security features provided by our online credit card transaction processing product, has resulted in some extraordinary expenditures, all of which we believe will contribute to more efficient and profitable operations as we move ahead. We are working on some exciting new programs for 2005."
PWEB added over 1,000 new accounts during the third quarter of 2004, bringing the total new accounts added since the inception of the new marketing initiatives to nearly 5,000.
About Pacific WebWorks & IntelliPay
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.
About TradeWorks Marketing Inc.
Pacific WebWorks wholly owned subsidiary TradeWorks Marketing Inc. is a sales and marketing organization created to market the PWEB and IntelliPay product lines.

- October's Top Hosts
- Windows Web Hosting
- Unix / Linux Web Hosting
- E-Commerce Web Hosting
- Reseller Web Hosting
- Virtual Private Servers
- Server Co-Location Web Hosting
- Managed Server Web Hosting
- Dedicated Server Web Hosting
- .NET / ASP Web Hosting
- Web Hosting News
- Web Hosting Help
- Industry Perspectives
- Commentry and Articles
- Web Hosting Blog
- Glossary and Terms