iWeb Communities: Blog

We released this morning our financial results for the second quarter ended March 31, 2006. In the latest three months period, iWeb Group Inc. more than doubled its consolidated revenues to $ 1,378,125, an increase of $ 712,585 or 107% more than the same period last year when revenues were $ 665,540.

“We are very happy with these results! With sales of $ 2,520,234 for the first six months of our 2006 financial year, we have met our objectives. From June 1st, with our second data center coming on line, we are very confident for the balance of the year.” said Eric Chouinard, Cofounder and CEO.

Gross profit increased by $ 432,814 or 127%, from $ 339,732 in the second quarter of 2005 to $ 772,546 in the second quarter of 2006. EBITDA went from $ 95,322 to $ 359,709, an increase of 277%. Net earnings grew by $ 163,767, from $ 25,381 to $ 189,057.

At March 31, 2006, Shareholders Equity was $ 972,255.

“This sales increase of 107% is due to the exceptional commitment and hard work of our team and I thank them. Our biggest challenge is to manage this rapid internal growth and I think we have been successful” adds Martin Leclair, Cofounder and COO.

Read the complete press release here.