Pacific WebWorks, Inc. (OTCBB: PWEB) today reported that revenues for the second quarter ended June 30, 2010, amounted to $3,306,232, compared to $8,697,551 during the quarter ended June 30, 2009. Net income from operations for the period amounted to $711,995 or $.02 EPS compared to $13,108 or $.00 EPS during the comparable quarter in 2009.

For the six months ending June 30, 2010, the company earned $974,165, or $.03 EPS. This compares to $322,803 or $.01 EPS for the first six months of 2009. The company's current ratio has increased from 9.4x to 23x during this time period.

Additional 2010 second quarter accomplishments include:

  • Better Management of Customer Servicing to Increase Customer Loyalty
  • Release from Google Litigation
  • Full Release of Web Wizard Version 5
  • Repositioned company to operate consistent with new credit card association guidelines

CEO Ken Bell stated, ?Our overall financial condition and liquidity continued to improve during the second quarter of 2010. Our balance sheet enjoys record levels for liquidity and solvency, a trend we see continuing. During 2009 we concentrated on driving customer growth. During 2010 the company is concentrating on profitability as we retool some of our product offerings and market strategies. Due to the company's significant cash position, new opportunities should accelerate revenue, cash flow and earnings potential significantly while expanding our business model. As always the company plans to utilize its strong cash position for the best interest of shareholders. We remain optimistic about our future."

For further information on the company's financial filings, please visit www.sec.gov.

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 operates a number of wholly owned subsidiaries, including Intellipay, TradeWorks Marketing and others.

Forward-Looking Statements

All statements other than statements of historical fact included in this press release are forward-looking statements. Words such as ?anticipate,? ?believe,? ?estimate,? ?expect,? ?intend? and other similar expressions as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. These statements are not a guarantee of future performance. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including the Company's ability to maintain sufficient credit card processing capabilities to service the demands of their hosting portfolio, and other risk factors discussed under the caption ?Risk Factors? in our Annual Report on Form 10-K for the year ended December 31, 2009 as filed with the Securities and Exchange Commission. Such statements reflect the current view of the Company's management with respect to future events, and are subject to these and other risks, uncertainties and assumptions related to the operations, result of operations, growth strategy and liquidity of the Company. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this paragraph. The Company has no intention, and disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

Pacific WebWorks, Inc., Salt Lake City
Brad Kerr, 801-578-9020
Or
Chesapeake Group
Tim Rieu, 410-825-3930