Go Online Networks Corp. Continues Accelerated Revenue Pace by Booking $1.13MM in Revenues for February 2002; 3,600 Refurbished Units in February Set New Company Record
BUENA PARK, Calif., Mar 6, 2002 (BUSINESS WIRE) -- Joe Naughton, CEO, of Go
Online Networks Corp. (OTCBB: GONT) announced today that February revenue figures
have exceeded $1.13 million bringing the total 2002 yearly revenue figures in
excess of $2 million.
Go Online Network's primary operating division Digital West Marketing
refurbished over 3,600 personal computer units including 2,700 desktop systems
and 900 laptops/PDAs for the month of February.
"The customer demand for our products continues to be strong as more and more
dealers become aware of Digital West's quality refurbishing skills," stated Joe
Naughton, CEO of Go Online Networks Corp. "Gross margins for the month remained
strong as our pipeline of returned PC systems steadily improved."
Digital West's General Manager Kerwin Burns added, "Our sales strength is
clearly price based, but without performing quality refurbishing services our
customers would not keep coming back for more inventory. Our team of technicians
is getting more and more efficient in the refurbishing process. Sorting, culling
and prioritizing the inspection and technical diagnostic process is reaching
impressive productivity levels. We also identified certain buying opportunities
of peripheral products including monitors that have enhanced our profit and
revenue picture attractively."
Digital West is actively seeking larger industrial space to accommodate its
burgeoning growth. It is anticipated that the company could further increase
sales and productivity levels by expanding into a larger facility enabling a
more streamlined and efficient production process. The management team is also
actively seeking refurbishing contracts in related non-computer consumer
electronics, such as cam-corders, VCRs, televisions, stereos and CD/DVD players.
About Go Online Networks
Go Online Networks Corp. is a Southern California-based technology holding
company. Currently, its major operating subsidiary Digital West Marketing
Services Inc. is an emerging player in the $100 billion Electronic Manufacturing
Services (EMS) sector. 2001 revenues exceeded $6 million. The core of Digital
West's revenue is derived from acquiring personal computers from retailers and
manufacturers then refurbishing the product to manufacturers' specifications and
then reselling the products to the secondary markets. In 2001, the company
generated revenue in excess of $6 million representing over 12,000 total
computers refurbished and resold. 75 percent of the company's revenues are
derived from the sale of desktop system (CPU and monitor), 20 percent notebooks,
and 5 percent personal digital assistants (PDA). The company has received
refurbishing authorization from several of the largest computer manufacturers in
the world in order to resell these products as factory authorized refurbished
computers.
This press release contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Litigation Act of 1995. Expression of future
goals and similar expressions reflecting something other than historical fact
involve risks and uncertainties. The actual results the company achieves may
differ materially from any forward-looking statements due to such risks and
uncertainties.
CONTACT: Go Online Networks Corp.
Joseph Naughton, 818/718-7500
joen@digitalwest.com
or
PMR and Associates, LLC
Pat Rost, 760/942-0015
pmrandco@aol.com |
