(COMTEX) B: GO ONLINE NETWORKS CORP - $1.39 Million in Revenues for F
B: GO ONLINE NETWORKS CORP - $1.39 Million in Revenues for FY 2000; 15 Times
Revenue Increase - From Prior Year Springboards Sales for 2001
New York, New York, Feb 26, 2001 (Market News Publishing via COMTEX) -- Joseph
Naughton, chairman of Go Online Networks Corp. reported preliminary revenue
figures for fiscal year 2000 of $1.39 million.
A 1,500 percent increase from the previous year's revenue numbers. The 3rd and
4th quarter of 2000 are projected to account for over $1 million of that total,
primarily as a result from the Oct. 1, 2000 acquisition and closing of Digital
West Marketing Services. The majority of Digital West's revenue is based upon
refurbishing personal computers (PCs), monitors, and laptops made by industry
leading manufacturers such as Compaq (NYSE:CPQ), Toshiba, Hewlett-Packard Co.
(NYSE:HWP), E-Machines (Nasdaq:EEEE), and Micron Electronics Inc.(Nasdaq:MUEI).
Upon completing the refurbishing process, in accordance with manufacturer
specifications, the products are then offered for sale to the secondary markets
including dealers, wholesalers, distributors, and end users.
"Our increased revenue stream began to kick-in during the second half of 2000.
As previously stated, our Oct. 1, 2000 closing of the Digital West Computer
Services division has substantially contributed to our revenue increase," stated
Naughton. "We anticipate announcing revenue projections for 2001 in the near
future. Our sales have been extremely strong for the first six weeks of 2001 as
Digital West expands its supplier and customer base. Additional expansion of our
network is under negotiations on numerous fronts. These areas of growth include
growing our core personal computer and laptop business as well as adding new
refurbishing technology in Pesonal Digital Assistant's (PDA), PDA modules, and
digital cameras," he concluded.
Go Online Networks Corp.'s completed audited financials are expected to be
released March 18, 2001.
About Go Online Networks
Go Online Networks Corp. is a Buena Park technology holding company, consisting
of Digital West Marketing (a computer service firm) and three operating
divisions, Go Online Kiosk Division, Shop Go Online, and the
Business-to-Business subsidiary, GoOnline.com.
About Digital West Marketing Inc.
Digital West (www.DigitalWest.com) is a computer service firm based in
Chatsworth, Calif., located north of Los Angeles. The company operates out of a
24,000 square-foot facility. The core of Digital West's business is to contract
with major retail entities and computer hardware manufacturers to refurbish
computer products returned to retail establishments by customers. The products
are re-engineered or refurbished to factory specifications by Digital West's
factory trained A+ certified technicians.
Digital West is a multi-vendor, multi-product facility that provides value-added
services, logistics services, depot repair, and spare parts distribution for
major PC brands and system components, including peripherals. Digital West deals
with more than 40 manufacturers to ensure an ability to handle customers'
requests for programs such as repair, part sales, advance exchanges,
cross-ships, emergency parts, and other asset management programs.
Digital West focuses on refurbishing personal computers (PCs), monitors, and
laptops made by industry leading manufacturers such as Compaq (NYSE:CPQ),
Toshiba, Apple (Nasdaq:AAPL), Hewlett-Packard (NYSE:HWP), E-Machines
(Nasdaq:EEEE), and Micron Electronics Inc. (Nasdaq:MUEI). Upon completing the
refurbishing process, in accordance with manufacturer specifications, the
products are then offered for sale to the secondary markets including dealers,
wholesalers, distributors, and end users.
For more information on Digital West Marketing Inc. please visit the Web site
www.digitalwest.com.
This press release contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities 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: TEL: 714/736-9888 Go Online Networks Corp., Buena Park
Joseph Naughton
EMAIL: Joe@GoOnlineNetworks.com
INTERNET: www.GONTINVESTOR.com
TEL: 818/718-7500, ext. 233 Digital West Marketing Inc.
Andrew Hart
EMAIL: Ahart@digitalwest.com
INTERNET: digitalwest.com
TEL: 619/696-8000 Charterbridge Financial Group Inc.
Stewart Smith
EMAIL: ssmith@charterbridge.net
INTERNET: charterbridge.net
TEL: 760/942-0015 PMR and Associates LLC
Pat Rost, broker and analyst contact
EMAIL: PMRandCo@aol.com
INTERNET: pmrandco.com
URL: www.GONTINVESTOR.com
MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.
(C) 2001 Market News Publishing Inc.
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KEYWORD: New York, New York
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