Pacific WebWorks Reports Continued Growth

* Reuters is not responsible for the content in this press release.

Tue May 20, 2008 9:00am EDT

SALT LAKE CITY--(Business Wire)--
Pacific WebWorks, Inc. (OTCBB:PWEB) reported continued growth for
the 1st Quarter of 2008. The company reported increased revenues and
profits for the quarter ending March 31, 2008 both when compared to
the like period in 2007 and when compared to the immediately
proceeding quarter ended December 31, 2008.

   Revenues for the quarter ended March 31, 2008 of $3,126,034
amounted to over 200% of revenues for the same period in 2007 of
$1,507,755 and amounted to 115% of revenues for the preceding quarter
ended December 31, 2007 of $2,715,312. The most significant growth
continues to come from recurring hosting, gateway and maintenance fees
which amounted to $2,889,679 for the quarter ended March 31, 2008, up
160% from $1,104,070 for the quarter ended March 31, 2007. Over 92% of
company revenues are now recurring monthly revenues related to the
hosting services which the company provides to its portfolio of
customers.

   Net income after tax for the quarter ended March 31, 2008
increased $150,709 from a loss of ($113,115) for the period ended
March 31, 2007 to a gain of $37,594. Cash provided by operations for
the period amounted to $327,205 resulting in an increase in cash and
cash equivalents to $1,119,823 at March 31, 2008.

   Ken Bell, CEO, stated, "PWEB continues to develop new and
efficient technologies directed towards assisting the small business
person to be successful in the sale of their products online. The
release of our new amazing webstores.com product during the 1st
quarter of 2008 is just the beginning of the new offerings we will
bring to market this year.

   "Our continued growth and profitability in the 1st Quarter of 2008
came despite challenging circumstances that surround the significant
growth we have experienced over the past 15 months. The volume of
credit card transactions that we now process monthly stretches the
limits of our current merchant accounts. We will, however, announce a
new alliance during the 2nd quarter of 2008 that will largely relieve
these constraints."

   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.

Pacific WebWorks, Inc.
Brett Bell, 801-578-9020

Copyright Business Wire 2008
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.