WNYN - Warp 9 Continues Record Success With Third Quarter Results
Wednesday May 16, 9:00 am ET
Revenue increases 93% year-over-year
SANTA BARBARA, Calif., May 16 /PRNewswire-FirstCall/ -- Warp 9, Inc. (OTC Bulletin Board: WNYN - News), the premier provider of robust and scalable e- commerce platforms and services, today announced financial results for its third fiscal quarter ended March 31, 2007.
Total revenue for the quarter was $771,989, an increase of 93% from the year ago quarter's $399,885. The dramatic increase in revenue was primarily due to an increase in recurring monthly fees from our e-commerce software and in professional services -- both as a result of a larger customer base.
Total operating expenses for the three month period ended March 31, 2007 decreased by $110,606 to $540,090 from $650,696 in 2006. Consolidated net income was $26,405 as compared to a consolidated net loss of ($398,706) for the year prior.
Harinder Dhillon, Warp 9's CEO, commented on the quarterly results, "While the third quarter is traditionally not one of our stronger quarters, the results for the period serve as an indication that we continue to see demand for our products and services and are on track for continued strong growth."
About Warp 9
Warp 9, Inc. (www.warp9inc.com) is the premier provider of enterprise-class e-commerce platforms and services to mid-sized businesses in the catalog and retail industry. With a proven track record and years of experience in the industry, Warp 9's comprehensive and scalable suite of software platforms and technologies for online catalogs, e-mail marketing, and interactive visual merchandising help businesses leverage the Internet to increase sales. Offered on a fully managed Software-as-a-Service model, Warp 9 products deliver unique benefits to its customers by reducing total cost of ownership, lowering upfront cost, providing faster time to market and being a one-stop-shop for all things e-commerce. Known for its outstanding customer service, Warp 9 powers some of the most successful e-commerce sites for companies like Magellan's, 1-800-Flowers, and Spiegel.
Safe Harbor Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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Source: Warp 9, Inc.
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