SW, Some good QNET news: Up 3 9/16, 78% on 125,000 vloume. Tiny float
Tuesday April 13, 11:23 am Eastern Time
Company Press Release
Quest Net Corp. Reports Profitable First and Second Quarter Results
MIAMI--(BUSINESS WIRE)--April 13, 1999--Quest Net Corp. (OTC BB:QNET - news) today reported the unaudited results for the six months ended December 31, 1998.
The company generated $1,526,053 in gross revenues and posted a 27.73% gross profit margin for the six months ended December 31, 1998. In the coming quarters, Quest Net Corp. anticipates future revenue growth from existing operations.
The Company reported a pretax profit of $423,181 for six months ended December 31, 1998. The first and second quarter fiscal 1998 profit can be partially attributed to the Company's design in keeping initial operating expenses at a minimum in order to distance itself from other Internet related companies that take on a tremendous debt during their developmental stages. The company is in the process of finalizing its marketing campaign for calender year 1999. Quest Net Corp. will implement an aggressive growth strategy, with higher marketing expenditures and increased expenses that, coupled with its future acquisitions, should result in increased revenues. As of December 31, 1998, Quest Net Corp. had current assets of $423,181.
George Elia, V.P. Business Development said, ''We are very optimistic about Quest Net Corp.'s future. We have very little debt and expect to see our revenues increase dramatically with the expansion of our bandwidth capacity, continued addition of wireless network clients, as well as an increase in the traditional dedicated and dial-up clients.''
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