Salt Lake-based software tools and services company Pacific WebWorks Inc. on Monday reported net earnings of $253,863, or 1 cent per share, for the quarter ended March 31. That compares with a net loss of $438,273, or 3 cents per share, for the same quarter a year ago.
The first-quarter earnings represent the first for the company. Net earnings before interest, taxes, depreciation and amortization, including an extraordinary gain, totaled $364,653 during the three months ended March 31, 2002.
Total revenue was $553,979. The company said it was able to reduce operating expenses 63 percent year-over-year.
The company's stock was trading at 23 cents early Monday, unchanged from Friday's close. In the past year, the price has ranged from 18 cents to 75 cents.