Company Reevaluates Anticipated Growth Rate, Announces Change in Strategic Partner.Business Editors CAPE CORAL Cape Coral, city (1990 pop. 74,991), Lee co., SW coastal Fla., located on an estuary of the Caloosahatchee River; inc. 1970. It is mostly a residential city that has grown rapidly along with the southern Florida area. , Fla.--(BUSINESS WIRE)--Feb. 24, 2000 Whitney Information Network, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :RUSS) today announced that it has reevaluated its projected growth rate based upon its increases in sales from $5.5 million in 1997, to $13.7 million in 1998, to approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $22 million in 1999. Although the Company has experienced sales increases of approximately 250% from 1997 to 1998 and 160% from 1998 to 1999, it does not expect to reach the $100 million level by 2001 as reported in a prior release. The Company will not now predict year 2001 sales although it expects continued strong sales growth in future years. The Company also announced that it has entered into a new web design affiliation with Powersites Network, Inc., replacing a previous arrangement with Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Development, Inc. Russ Whitney, Chairman of the Board, said, "We believe that the change from IDI IDI ICC (International Cricket Conference) Development International Conference) IDI Israel Democracy Institute IDI I Doubt It IDI Initial Domain Identifier IDI In-Depth Interview to Powersites will enhance our web design and web-building services to our students and customers and improve our business to business division." This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which involve risks and uncertainties. Actual results could vary from those expected due to a variety of risk factors, including, but not limited to, the company's ability to generate working capital, activities of competitors, risks associated with business combinations, dependence upon management, economic conditions and other risks which may be outlined in future company announcements. |
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