iWeb Communities: Blog

Revenue increases by 38 %

MONTREAL ? may 27, 2005 ? iWeb Group Inc. today announced its second quarter financial results for the period ended March 31, 2005.

In the second quarter, iWeb recorded consolidated revenue of $665,540, an increase of $184,991 or 38% compared to $480,549 for the same period last year.

«Our primary focus is on sales growth », said Eric Chouinard, iWeb cofounder and CEO. « In the next month, we will continue to increase sales efforts and as always, we will be seeking acquisition opportunities. », he added.

Gross profit increased by $119,540 or 54% from $220,192 in Q2 2004 to $339,732 in Q2 2005. Net income from operations for Q2 2005 totaled $25,381 compared to a net income of $41,032 in the same period last year.

As at December 31, 2004, shareholders? equity totaled $602,852 and the company had $210,457 in cash, cash equivalents and investments.

About iWeb Group Inc.
Founded in Montreal in 1996, iWeb is today one of the most important Canadian companies in web hosting services. The Company offers a full line of advanced web hosting solutions in English, French and Spanish. iWeb has customers in over 48 countries around the world.

iWeb Group Inc. is listed on the TSX Venture Exchange under the IWB stock symbol. For more information, visit the Company’s website at investisseurs.iweb.ca..

FINANCIAL INFORMATION

*As at September 30, 2004

« The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release. »