NEWS!!
Tuesday August 21, 9:31 am Eastern Time
Press Release
SOURCE: Go Online Networks Corp.
Go Online Networks Revenues Grow to Over $3,641,000 for the First 32 Weeks of 2001
Sales Increase of Over 900 Percent Continues for YTD Company Revenues
BUENA PARK, Calif.--(BUSINESS WIRE)--Aug. 21, 2001--Joseph Naughton, chairman of Go Online Networks Corp. (OTCBB:GONT - news)
today announced that 32 week revenues for Go Online exceeded $3,641,000 compared with sales of $359,850 for the same period last year.
``We continue to be very pleased with our continued strong sales growth spurred by our Computer Refurbishing Division,'' Naughton said. ``We are
projecting revenues in excess of $2,100,000.00 for the third quarter which will be a better than 25 percent revenue increase over our second quarter
revenues recently reported to the Securities Exchange Commission.''
The company noted it then expects its first three quarters of 2001 to produce revenues exceeding $4,600,000 compared to last years revenue base of
$436,358. ``With these budgeted revenues we are projecting a gain of $4,163,640 in revenues for our first three fiscal quarter,'' added Naughton.
The company's unaudited second quarter financials noted a $58,900 reduction in losses for the first two quarters with company assets increasing by
$1,215,674 and liabilities increasing by $1,058,463 during the same period.
The company published the following revenue chart for its past six operating quarters comparing comparable revenues by Quarter to Quarter, Quarter to
Date and Year to Date comparisons.
Reporting Fiscal Revenues Qtr. To Qtr. Comp. Qtr. YTD
Qtr. Year Inc/(Dec) Inc/(Dec) Inc/(Dec)
1st Qtr 2000 $ 109.2 -- -- --
2nd Qtr 2000 147.3 34.9% -- --
3rd Qtr 2000 436.4 246.3 -- --
4th Qtr 2000 588.9 34.9 -- --
--------
$1,281.8
1st Qtr 2001 $ 825.9 40.2% 756.3% 756.3%
2nd Qtr 2001 $1,678.9 203.0% 1,138.0% 976.0%
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 operating
division, Go Online Kiosk Division.
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. |
