TerenceNet,
Inc. Announces 199% Revenue Increase for Second
Quarter 2003
Summary
of Financial Results
Three and Six Months Ended 06/30/2003 |
| |
2nd
Quarter
Ended 06/30/2003 |
2nd
Quarter
Ended 06/30/2002 |
Six
Months
Ended 06/30/2003 |
Six
Months
Ended 06/30/2002 |
| Revenue |
$142,590 |
$47,712 |
$229,766 |
$93.558 |
| Net
Income |
$(21,138) |
$(9,634) |
$(30,410) |
$(37,714) |
| Average
Shares |
8,078,750 |
6,403,750 |
8,002,500 |
5,972,935 |
| EPS |
$(0.003) |
$(0.001) |
$(0.004) |
$(0.007) |
Ft.
Pierce, FL/August 11, 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 second quarter ended June 30,
2003.
For
the quarter ended June 30, 2003, TerenceNet, Inc.
reported $142,590 in revenue versus $47,712 in
the same period during 2002; a 199% increase.
Additionally, for the six months ended June 30,
2003, TerenceNet recorded $229,766 in revenue,
a 146% increase versus the $93,558 recorded during
the same period in 2002.
Net
loss for the first quarter ended June 30, 2003
was $20,521, or $0.003 per share, versus a net
loss of $6,996, or $0.001 per share, for the same
period in 2002. For the six months ended June
30, 2003, net loss was $28,838 – $0.004
per share – versus a net loss of $39,998
– $0.007 per share – during the same
period in 2002.
Terence
Channon, CEO, said, "We have already surpassed
the total revenue we generated in 2002, so we
are pleased with this growth, which appears to
be ramping up each quarter. Furthermore, we are
excited about the future growth and prospects
of our company as we begin to capitalize on new
business elements and revenue streams that we
have been aggressively implementing over the past
6 months.”
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, 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 |
