NEW YORK, July 19, 2000 (PRIMEZONE) - Steven G. Chrust, the chairman of Worlds.com (OTCBB:WDDD), today said that the Company expected to report record revenues for its second quarter, ended June 30.
Worlds.com, a three-dimensional (3D) entertainment portal, derives its revenue from several sources, including advertising and e-commerce. Additional revenue is provided from subscriber memberships and from the design, development and maintenance of sites created with Worlds.com content and distribution partners.
Chrust said that he expected revenue to increase by 75 percent over the first quarter of 2000 and to be higher than the Company's previous largest quarter, the fourth quarter of 1999. Revenue in those quarters was $180,023 and $265,892, respectively.
The Company said that 24/7 Media, its advertising sales rep, had brought 91 advertisers to the Worlds.com site during the final month of the quarter but did not expect revenues to be impacted until the third quarter.
"We are making real headway on many fronts and the results are beginning to appear," he said. "We are very hopeful that we will generate significant growth throughout the rest of this year and into 2001.
"We are continuing to build our relationships with other content sources and distribution channels, all of which should lead to increased revenues from advertising, e-commerce and design."
The Company expects to issue its second quarter results on August 15.
"We will forego a conference call when we release earnings," Chrust said, "in deference to the vacation schedules of analysts and investors. Instead, we will hold an investor meeting combined with a conference call in early September in New York. We hope this timing will enable us to reach a larger audience."
About Worlds.com
Worlds.com, the Internet's premier 3D entertainment portal, leverages its proprietary technology to offer visitors a network of virtual, multi-user environments that have rich media graphics, text chat, voice-to-voice chat, streaming video and e-commerce. The environments are focused around entertainment interests and targeted communities such as music, sports, and general entertainment environments. In the Worlds' Avatar Gallery, visitors select an avatar (3D character), and customize it into a personal virtual representation of themselves. The avatar is used to travel in and through the various virtual environments and participate in interactive activities involving entertainment, promotions, or e-commerce. Avatars can chat with one another, dance in a nightclub, e-shop, watch video clips and participate in other activities.
Worlds.com is headquartered in New York City. For more information on Worlds.com, please contact Andrew Silver &/or Rebecca Fitts, Middleberg & Associates, (212) 699-2589/2663, andys@middleberg.com / rebecca@middleberg.com.
Forward Looking Statements. Except for any historical information contained herein, the matters discussed in this news release contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. These risks and uncertainties are described in the company's filings with the SEC. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.