Pacific WebWorks Growth Continues into 1st Quarter of 2005
17 May 2005
SALT LAKE CITY-- May 17, 2005 -- Pacific WebWorks Inc. (OTCBB: PWEB) today reported growth of nearly 40% for the quarter ended March 31, 2005, when compared to the same quarter in 2004, with revenues increasing in all reporting categories.
CEO Ken Bell stated, "In the face of an intensely competitive marketplace, we continue to make progress toward our goal of profitably growing the company and increasing our recurring hosting base. Revenue growth, along with a reduced cost of sales ratio, contributed to a 37% decrease in our net loss from operations first quarter 2005 over first quarter 2004. Our hosting, gateway and maintenance fees increased for the fourth consecutive quarter.
"We continue to focus on the development of our technologies and the expansion of our distribution channels. We are fully compliant with all Visa and MasterCard security requirements, and have expanded our IntelliPay business development team in an effort to accelerate the growth of our gateway and merchant account business."
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.
