To: Wayne Rumball who wrote (5125 ) 3/29/1999 10:53:00 AM From: Frederick Langford Respond to of 13776
EWEB numbers out, PROFITABLE (PR Wires) DJ: Euroweb International Corp. Announces Effective Turnarou DJ: Euroweb International Corp. Announces Effective Turnaround with $.08 Earnings Per Share from Continuing Operations for Fiscal 1998 V's ($.68) Loss for Fiscal 1997 NEW YORK, March 29 /PRNewswire/ -- Euroweb International Corp. (OTC Bulletin Board: EWEB) reported through its Chairman, Frank R. Cohen, that Internet sales for Fiscal 1998 were $1,685,245, compared with Internet sales of $1,270,135 posted for Fiscal 1997. Net Income for the current reporting period was $427,524 or $.08 per share as compared to a loss of $2,530,228 or $.68 per share for the previous year. The 1998 net income includes a gain of $1,516,548 gain on the sale of a 51% interest in the Company's Internet subsidiary and a loss from discontinued operations of $119,678 ($.02 per share loss). The 1997 net loss includes a loss from International operations of $591,039 ($.16 per share loss). The sales for Fiscal 1998 represent only sales to November 22, 1998, date of the sale of the 51% Interest. The Internet sales for the entire year of 1998 were $1,958,062, an increase of 55% over Internet sales for the entire year of 1997. The Company provides International Internet access to approximately 350 managed leased line large corporate customers as well as to substantial number of dial-up business customers, complete graphic services including designing and hosting web sites and value added services for its customers including developing databases. Euroweb International Corp. 1998 Fiscal Year 1997 Fiscal Year Net Revenue - Internet $1,685,245 $1,270,135 Net Income (Loss) - Continuing Operations $547,202 $(2,530,228) - Discontinued Operations $(119,678) -- Net Income (Loss) per Share - Basic - Continuing Operations $.10 $(.52) - Discontinued Operations $(.02) $(.16) $.08 $(.68) Weighted Average Common Shares Outstanding 5,553,000 3,728,000 Net Income (loss) per Share - Diluted - Continuing Operations $.09 $(.52) - Discontinued Operations $(.02) $(.16) $.07 $(.68) Weighted Average Common Shares Outstanding 5,906,000 3,728,000 /CONTACT: Frank R. Cohen, Chief Executive Officer of Euroweb International Corp., 212-758-9870/ 10:24 EST *** end of story *** Fred