Intermost: An Internet Phenomena Profitable After Only Its Second Quarter
ORLANDO, Fla., March 2 /PRNewswire/ -- Intermost Corporation (OTC Bulletin Board: IMOT) today defied conventional wisdom that all Internet firms post loses, by releasing profitable numbers. On sales of $140,013 for their first two quarters of operation, the Company showed a profit of $4,161, or 3%, with second quarter sales up a whopping 10% alone.
As if that wasn't enough, while the Company was focusing on business development, it managed to also: open two offices, acquire a 49% interest in a foreign Y2K joint venture, begin building a Chinese language Internet search engine, and assemble the world's largest China business database. Not bad for a company which began operations in July 1998.
While the business-to-business e-commerce sector of the Internet is just developing in the US, the business-to-business sector is what's driving China's Internet. Intermost understands this and has focused their efforts on China's commerce, which has the dollars and credit cards to drive big dollars and bigger profits through their doors.
Just ask Visa International. Leehun Lee, Visa's Great China chief representative, predicted that by the end of this year, there will be over 180 million credit and debit cards in China and over 200 million by the end of 2000.
This is good news for Intermost, which is aggressively blazing new growth trails in their search to bring the best of the Internet to China. In the works are major e-commerce ventures, a "Yahoo"-style Chinese language search engine and, in a potentially spectacular move befitting an Internet company that dares to show a profit, Intermost is targeting their Chinese e-commerce sites toward the international market.
With hundreds of millions of overseas Chinese only a click away, Intermost believes it can put a Chinese face on what Amazon.com and others have done. The difference is that Intermost intends to make a profit along the way.
With their third office opened in Beijing last month and more offices on the way, Intermost's dramatic growth potential in the world's most computer-hungry nation is attracting new followers. If the revenue for the three months ended December 31, 1998 increased by 10%, as compared with the preceding three months, just imagine what the future holds. No wonder so many western technology companies on knocking on Intermost's doors.
Intermost is the first US-listed information technology firm from China. The Company is an Internet service provider in China, focused on business-to-business content hosting and maintenance. Intermost is a market leader in providing services to large organizations and export-oriented companies.
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