Today, Pacific WebWorks, Inc. announced that it expects revenues of at least $28.5MM in 2009, representing an increase of 210% over the $9.2MM revenue in 2008. The estimation is consistent with an October 10th analyst report.
The market for application software, Pacific WebWork’s primary focus, is expected to grow at a healthy rate during the next five years. The small-to-medium-sized segment of this market is anticipated to grow at a higher pace driven by low penetration of these services and growing demand.
Ken Bell, Pacific WebWorks CEO, stated, “We expect substantially improved before tax net profit margins in the third quarter. Historically the company has maintained net profit margins in the 4-6% range. The company believes that it should be able to approach and maintain near double digit net margins going forward. Third quarter numbers should initiate this trend. We will release quarterly results in mid-November, and we plan to host a conference call to address questions.”
Pacific WebWorks provides affordable, easy-to-use software programs for small businesses that desire 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, TradeWorks Marketing and others. For more information, the October analyst report is available at www.grassrootsrd.com.
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