HOLLYWOOD, Fla., Aug. 2, 2006 (PRIMEZONE) -- Pricester.com, Inc. (OTCBB:PRCC), an e-commerce website operator that enables any business to establish a fully functional online retail outlet, is pleased to announce its second quarter results ending June 30, 2006.
For the second quarter, the Company reported net sales of $48,145, which represents an increase of 424% over the same period last year. While net sales were up significantly, operating expenses marginally increased by only 18% or $42,702 when compared with the same period last year.
Pricester.com CEO, Ed Dillon said, "We are extremely pleased with the positive trajectory of our sales strategy. These results are very encouraging for the Company and shareholders alike as they are great indicators that our business model and sales strategies are working."
Company founder and President Joe Puentes added, "Our goal at Pricester.com is to position ourselves as a serious contender within our industry and eventually become one of the more dominant companies on the internet." Puentes added, "Our strength comes from our ability to provide significant exposure for small businesses that are in need of strategic web development and a presence both in the United States and abroad."
Pricester.com Chairman Howard Nue said, "Going forward, as more businesses expand their internet presence and seek web based solutions to leverage their brick and mortar infrastructure, Pricester.com stands to benefit."
The bottom line to shareholders was a net loss of $0.01 per share vs. $0.01 per share for the same time period in the six months ended June 30, 2005.
About Pricester.Com
Pricester.Com is an e-commerce company currently operating a website that enables any business to establish a fully functional online retail presence. The company's website, http://www.Pricester.com , is an Internet marketplace which allows vendors to host their website with product and service listings and allows consumers to search for those same listed products and services.
Forward-Looking Statements
Except for historical matters contained herein, the matters discussed in this release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these statements reflect numerous assumptions and involve risks and uncertainties that may affect Pricester.com, Inc., its business and prospects, and cause actual results to differ materially from these statements. Among these factors are Pricester.com, Inc.'s operations; competition; barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms; the schedule and sell-through for websites; consumer demand for websites; the timing of the introduction of new generation competitive ecommerce systems, pricing changes by key vendors for hardware and software, the timing of any such changes, and the adequacy of supplies of new software product.
In light of the risks and uncertainties inherent in these forward-looking statements, they should not be regarded as a representation by Pricester.com, Inc. or any other person that the projected results, objectives or plans will be achieved. Pricester.com, Inc. undertakes no obligation to revise or update the forward-looking statements to reflect events or circumstances after the date hereof.