SALT LAKE CITY, -- Aug. 15, 2005 -- Pacific WebWorks, Inc. (OTC Bulletin Board: PWEB - News) today announced the results of their 2005 2nd quarter as reported in their quarterly 10-Q filing. The company reported growth in revenues of nearly 15% for the 2nd quarter when compared to the 1st quarter of 2005 and growth of 18% for the six months ended when compared to the like period for 2004.
CEO Ken Bell commented, "These results, while pleasing, reflect only a small portion of the increased cash flows we are seeing from our expanded marketing and media campaign. As early announced, our cash collected in June 2005 far exceeded June 2004. These cash collections helped to offset sluggish results for April and May and contributed to reasonable growth for the quarter."
Bell concluded, "Revenue growth continues to be most dramatic in the areas of software access and license fees, hosting and gateway fees, and financial services and design. While losses for the quarter were up slightly over the first quarter, our six-month results reflect a 15% decrease in losses when compared to the 2004 first six months. Our financial condition is solid and we look forward to the next several months and beyond."
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.
