TerenceNet,
Inc. Annouces 2002 Results and 59.5% Increase
in Revenue
Summary
of Financial Results
Fiscal Year Ended 12/31/2002 |
| |
4th
Quarter
Ended 12/31/2002 |
Fiscal
Year Ended 12/31/2001 |
4th
Quarter
Ended 12/31/2001 |
Fiscal
Year Ended 12/31/2001 |
| Revenue |
$67,135 |
$209,058 |
$32,948 |
$131,109 |
| Net
Income |
$(25,954) |
$(234,537) |
$(8,492) |
$(31,070) |
| Average
Shares |
6,415,178 |
6,415,178 |
5,350,000 |
5,350,000 |
| EPS |
$(0.004) |
$(0.037) |
$(0.002) |
$(0.006) |
Ft.
Pierce, FL/February 28, 2003 – TerenceNet,
Inc. (OTC BB: TCET) a Ft. Pierce, FL based e-business
consulting firm with offices in Columbia, MD,
Las Vegas, NV, and Naples, FL, has announced financial
results for the fiscal year ended December 31,
2002.
For
the year ended December 31, 2002, TerenceNet,
Inc. reported a record $209,058 in revenue versus
$131,109 in the same period during 2001; a 59.5%
increase. Revenues for the three months ended
December 31, 2002 were $67,135, a 103.8% increase
when compared to the revenues generated during
the same 3-month period in 2001, $32,948.
Net
loss for the fiscal year ended December 31, 2002
was $234,537, or $0.037 per share, versus a net
loss of $31,070, or $0.006 per share, for the
same period in 2001.
TerenceNet,
Inc., is an e-business consulting firm providing
strategic consulting and business advisory services,
web site design and development, web site hosting,
domain name and Internet identity management,
and Internet marketing services.
For
additional information, contact Terence Channon,
CEO/Chairman, TerenceNet, Inc., 6 Avenue A, Ft.
Pierce, FL 34950 U.S.A. Phone 772-429-1401, email
info@terencenet.com. Information is also available
online at www.terencenet.com.
SPECIAL
INFORMATION REGARDING FORWARD LOOKING STATEMENTS
Some of the statements in this communication are
"forward-looking statements." These
forward-looking statements involve certain known
and unknown risks, uncertainties and other factors
which may cause our actual results, performance
or achievements to be materially different from
any future results, performance or achievements
expressed or implied by these forward-looking
statements. These factors include, among others,
the factors set forth above under "Risk Factors."
The words "believe," "expect,"
"anticipate," "intend," "plan,"
and similar expressions identify forward-looking
statements. We caution you not to place undue
reliance on these forward-looking statements.
We undertake no obligation to update and revise
any forward-looking statements or to publicly
announce the result of any revisions to any of
the forward-looking statements in this document
to reflect any future or developments |
