IBUI - Internet Business's International Inc. Second Quarter Results With a 1,210% increase of Revenues and Return to Profitability
LAS VEGAS, Feb 20, 2001 (BUSINESS WIRE) -- Internet Business's International
Inc. (OTCBB:IBUI) reported revenues for its second quarter ended Dec. 31, 2000
of $6,539,850 and net income of $129,623, compared with revenues of $540,102 and
net income of $21,686 for the year-earlier period.
This is an increase of revenues of 1,210%. Each of the company's divisions
reported solid sequential revenue growth, led by the ISP Division, which
reported operating income of $257,676 for the first six months of the fiscal
year.
"We are pleased that we were able to return to profitability sooner than we had
anticipated," said Albert Reda, IBUI CEO. "These results do not reflect the
strong growth that we have seen in our online lending business or several
acquisitions that we believe we are close to completing.
"We are currently generating in excess of $10 million of funded real estate
loans per month in our lending-on-line business due to the strong demand for
refinancing. We anticipate that this trend will only accelerate throughout the
second half of our fiscal year.
"In addition, we have made rapid progress in our e-commerce business and feel
that this area will be among our most profitable segments in the second half of
the year. We continue to feel confident that the combination of growth in our
business units and our acquisition strategy will enable us to meet the financial
objectives we have previously outlined for our shareholders."
About Internet Business's International Inc. (IBUI)
IBUI, (www.ibui.net), is a broad-based Internet company that generates revenue
from the Internet through the products and services that it provides.
IBUI, through its four divisions, offers the following online services: ASP,
B2B, B2C, e-commerce, lending and leasing online, a national Internet Service
Provider through a dial-up Internet access nationally, high-speed Internet
access, through DSL (in the Western United States), and wireless Internet which
currently offers service in Las Vegas and Woodland, Calif.
IBUI subsidiaries also offer marketing services for e-commerce, Web hosting and
design. With nine offices in the United States and two in Europe, the company
has more than 110 employees.
For further information, contact Mathew Henderson, CEOcast Inc. for IBUI at
212/732-4300, IBUI contact Albert Reda at 949/833-0261, or visit the company on
the net at www.ibui.net.
Certain statements in this news release may contain forward-looking information
within the meaning of Rule 175 under the Securities Acts of 1933 and Rule 3b-6
under the Securities Exchange Act of 1934, and are subject to the safe harbor
created by those rules. All statements, other than statements of fact, included
in this release, including, without limitation, statements regarding potential
future plans and objectives of the company, are forward-looking statements which
will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements.
CONTACT: Internet Business's International, Newport Beach
Albert Reda, 949/833-0261
www.ibui.net
or
CEOcast Inc.
Mathew Henderson, 212/732-4300 |
