Salt Lake-based Pacific WebWorks Inc. on Friday reported that revenue grew nearly 10 percent for the quarter ended March 31, compared to the same quarter a year ago, although the company had a net loss equating to 1 cent per share for the most recent quarter.

Ken Bell, chief executive officer, said the revenue growth "comes despite the significant negative effect that deferral accounting has on our revenue recognition policies. Actual first quarter revenue, before deferrals, represents closer to 35 percent growth over 2003 first-quarter revenues."

Pacific WebWorks provides software for small businesses that want to create, manage and maintain an effective Web strategy. Wholly owned subsidiary Intellipay develops and provides electronic transaction processing and payment products and services. Wholly owned subsidiary TradeWorks Marketing Inc. is a sales and marketing organization created to market the PWEB and Intellipay product lines.

Pacific WebWorks stock was unchanged Friday at 11 cents. During the past year, the price has ranged from 10 cents to 46 cents.