September 28, 1999 13:56
QuikBIZ Internet Group Announces Increased Revenues for Year
Ended 1998 and Six Months Ended June 30, 1999
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 28, 1999--QuikBIZ Internet Group, Inc., (OTC
BB:QBIZ) an Internet-related communications solutions provider, today announced its revenues for the
year ending December 31, 1998 and six months ending June 30, 1999. The company's sales for year
ended 1998 were $2.1 million vs. $140,355 for the same period in 1997, an increase of 1,426%.
Revenues for the six months ended June 30, 1999 were $1.8 million vs. $708,136 for the same period in
1999, an increase of 153%. The company's sales were a direct result of the acquisitions of The Smith
Agency (November 1997) and QuikLAB Multimedia Centers (July 1998).
For the six months ending June 30, 1999, QuikBIZ had a net loss of $182,797, before depreciation,
amortization and interest expenses. For the year ending December 31, 1998, QuikBIZ had a net loss of
$783,364, of which $410,970 or 52.5% was non-cash and mainly attributable to acquisition costs,
including goodwill, amortization expense and employee stock options.
"We are ahead of our projections and are extremely pleased with our results for the six months ending
June 30, 1999," states David Bawarsky, CEO of QuikBIZ Internet Group. "Our two subsidiaries, QuikLAB
Multimedia Centers and Smith Agency have both shown a profit for the six months ending June 30,
1999.
About QuikBIZ Internet Group
QuikBIZ Internet Group, Inc. is an Internet-related company, which wholly owns several subsidiaries
including The Smith Agency and QuikLAB Multimedia Centers, and operates the web sites QuoteIT.com
and The QuikBIZ Mall - a business-to-business communications mall. For further information about
QuikBIZ Internet Group, Inc., visit the company's website at quikbizgroup.com. For more
information about the QuikBIZ Mall visit the mall at quikbiz.com.
The statements in this press release that relate to future plans, events or performance are
forward-looking statements that involve risks and uncertainties, including risks associated with
uncertainties pertaining to customer orders, demand for products and services and other risks identified
in the Company's SEC filings. Actual results, events and performance may differ materially. Readers are
cautioned not to place undue reliance on these forward-looking statements, which speak only as of the
date hereof. The Company undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
CONTACT: QuikBIZ Internet Group, Inc., Ft. Lauderdale
David Bawarsky, 954/735-2300
|
