Communicate.com Announces Record Q2 Results; 320% Increase in Revenues, 330% Increase in Net Profit over Q2 2003
VANCOUVER, British Columbia, Aug 16, 2004 -- Communicate.com Inc. (OTCBB:CMNN) today announced results for the second quarter and six months ended June 30, 2004. All figures are in U.S. dollars.
Financial Highlights, Second Quarter & Six Months 2004:
-- Record quarterly revenues of $733,107 in the second quarter,
compared to $173,895 for the same period in 2003, an increase of 320 percent
-- Record second quarter net income of $120,908, compared to
$27,801 for the same period in 2003, an increase of 330
percent
-- Record second quarter gross profit of $327,486, compared to
$127,494 for the same period in 2003, an increase of 155
percent
-- Second quarter product sales of $373,651, compared to $55,692
for the same period in 2003, an increase of 570 percent
-- Record six month revenues of $1,229,216, compared to $255,052
for the same period in 2003, an increase of 380 percent
-- Six month net income of $166,095, compared to $33,671 for the
same period in 2003, an increase of 390 percent
-- Six month gross profit of $569,156, compared to $208,651 for
the same period in 2003, an increase of 170 percent
-- Six month product sales of $603,212, compared to $55,758 for
the same period in 2003, an increase of 980 percent
-- Cash and cash equivalents of $504,978 as at June 30, 2004,
compared to $137,605 as at June 30, 2003
Corporate Highlights, Second Quarter 2004:
-- Launched Karate.com online martial arts superstore
-- Launched version 3.0 of Importers.com, the company`s rapidly
growing global B2B trade portal
-- Opened Malaysian FrequentTraveller.com sales office to book
Malaysia.com & Indonesia.com clients
-- Received the fourth $200,000 payment from Manhattan Assets,
Inc. towards the purchase of four URLs for $1 million
Communicate.com`s President, David Jeffs, commented: "We are pleased with our results in the second quarter, which marks our sixth consecutive profitable quarter. Third quarter revenues have been strong thus far and should surpass our record second quarter revenues. Our online fragrance sales continue to grow and our travel subsidiary has seen a steady rise in bookings through our operating country/travel websites. We are also very encouraged by a recent report by Forrester Research which stated that U.S. online retail sales are on a strong growth track and should hit $316 billion by 2010, with online travel to reap a projected $119 billion."
About Communicate.com:
Communicate.com is an emerging growth Internet company that owns, develops and operates more than 25 intuitively branded top-level eCommerce websites, including Perfume.com, Karate.com and Importers.com. Communicate.com`s brand categories include health & beauty, travel, telecommunications, sports and consumer electronics. The Company`s network of B2C and B2B websites intuitively attracts approximately one million visitors and potential clients per month with no marketing costs, giving Communicate.com a competitive advantage in customer acquisition and price. For more information, please visit www.communicate.com.
This news release contains "forward-looking" statements, as such term is defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ from those expressed or implied herein. Further information on potential factors that could affect the financial results of Communicate.com is included in the Company`s filings with the U.S. Securities and Exchange Commission.
CONTACT:
Communicate.com Inc.
Adam Rabiner, 866-898-4354
investors@communicate.com
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