ClearWorks.net Reports a 1527% Increase in Revenues for First Six Months of 1999.HOUSTON--(BUSINESS WIRE)--Sept. 17, 1999-- ClearWorks.net (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CLWK) announced today that the Company had a 1527% increase in revenues for the six months ending June 30, 1999 compared to the same period for 1998. The Company reported a 10,660% increase in gross profits for the six months ending June 30, 1999 compared to the same period for 1998. ClearWorks.net is one of the nations leading providers of Fiber To The Home (FTTH (Fiber To The Home) See FTTP. ) for the delivery of Bundled Digital Services(SM) including high speed Internet connectivity, dial-tone, digital multi-channel video, on-demand video rental and other digital services. "We are elated e·lat·ed adj. Exultantly proud and joyful. e·lat  ed·ly adv.e·lat with our phenomenal increase in our financials. This is a dramatic increase that positions the Company for continued growth and expansion," explains Michael T. McClere, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Company. "We are committed to our pursuit of long-term growth of ClearWorks.net and to enhance shareholder profitability. We are vigorous in our efforts to establish relationships with the top developers nationwide. We also anticipate the ramp-up of school districts, colleges and universities which should further strengthen our revenue source," added Mr. McClere.
Financial Highlights
June 30, 1999 June 30, 1998
Six Months Six Months
------------- -------------
Revenues $1,025,000 $63,000
Gross profit 538,000 5,000
Net loss (213,000) (41,000)
Earnings per share:
Basic (.01) (.01)
Diluted (.01) (.01)
The notes are an important part of these financials. The complete
notes can be obtained by contacting the company or by going to
www.freeedgar.com under the company's symbol "CLWK."
ClearWorks.net has been pioneering the concept of Bundled Digital Services(SM) in the Houston area and has expanded recently into the Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. market. The Company is offering its services to residential developments, multiple dwelling dwelling an abnormality of gait in a horse in which there is a momentary hesitation before the foot is placed on the ground. units, commercial buildings and school systems. ClearWorks.net provides rapid-access Internet dial-ups at speeds 2,000 times faster than a 56k modem connection at a bi-directional speed of up to 100 megabits per second (unit) megabits per second - (Mbps, Mb/s) Millions of bits per second. A unit of data rate. 1 Mb/s = 1,000,000 bits per second (not 1,048,576). E.g. Ethernet can carry 10 Mbps. . The Company's new high bandwidth Internet applications such as IP streaming, video on demand and video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. will be supported by its fiber-based access. Certain statements in this release are forward-looking. Although ClearWorks.net (the Company) believes its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations. Tech Technology Services, L.L.C. (TTS (1) See text-to-speech. (2) (Transaction Tracking System) Software that monitors a transaction until completion. In the event of a hardware or software failure, it ensures that the database is brought back to its former state before the attempt to ) is a public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most firm employed by the Company. Statements and opinions presented here represent the views of the Company, not TTS, as the release is based on information provided by the Company. TTS and the Company believe that all information in this release has been obtained from sources considered reliable, but cannot guarantee that the statements presented herein are accurate or complete. TTS and its employees can have a position in the securities of the companies in which it distributes information for media use, and may be buying or selling securities in the course of its regular business. |
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