Exhibit 99.2
PRESS RELEASE Source: IceWEB, Inc.
ICEWEB REPORTS SOLID SECOND QUARTER 2005 RESULTS
HERNDON, Va.--(BUSINESS WIRE)--June 2, 2005--IceWEB, Inc. (OTCBB:IWEB - News):
o Revenue of $1,514,920, gross profit of $529,809, up 61 percent from
prior year
o Earnings from continuing operations of $56,219
o Operating EPS of $0.01, up 250%, from the same period the prior year
o IceWEB cash from all activities increased 428 percent from prior year
to $1,025,112
o Will hold web cast at 5 p.m. ET, June 14th
IceWEB, Inc. (OTCBB:IWEB - News) today reported financial results, for its
second fiscal 2005 quarter ended March 31, that exceeded previous guidance for
revenue and met expectations for operating earnings. In addition, the Company
updated guidance for the full fiscal year 2005.
"We had another quarter of excellent results based on flawless execution of the
business strategy," said IceWEB's Chief Executive Officer John R. Signorello.
"IceWEB is in a position to succeed and grow the Company; our financial position
is sound and we are re-enforcing our already strong management team for
long-term, sustainable growth."
"Today's organizations need solutions that enable them to sustain competitive
advantage and build value for their customers. By focusing on our customer and
prospects needs, we will maximize our business results and become a trusted
solution provider for our customers."
Financial Overview: Second Quarter Fiscal Year 2005
Total revenue for the second quarter of fiscal year 2005 was $1,514,920, with an
increase in net profit of $236,487 over the same period of fiscal year 2004.
"There is genuine acceptance of our products and services," said IceWEB's
President, G. Anthony Munno. "Our professional services business is healthy, and
systems integration and professional services continues to be a strong segment
of our business, with continued bookings growth."
The Company reported earnings from continuing operations for the second quarter
of $56,219 or $0.01 per diluted share, compared to loss from continuing
operations of ($180,268) or $(0.04) per diluted share, reported in the
comparable period last year.
Developments during the Quarter
During the quarter, IceWEB made a number of important technological advances,
including:
o Solidifying the strategy and tactical plans for continued support for
IceWEB Mail (IceMail) launching the Alpha Version code name "Miracle"
o Shipped and delivered IceWEB Vista, our flagship portal product
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Outlook for the Remainder of Fiscal Year 2005
The following updated guidance is based on current expectations and represents
"forward-looking statements" (as defined below):
For the third quarter ending June, 2005:
o Revenue in the range of $1.7 million to $2.3 million;
o Earnings per share in the range of $0.02 to $0.03; and
For the full year, ending Sept. 31, 2005:
o Revenue in the range of $ 7.5 Million to 8.5 million;
o Earnings per share in the range of $0.33x to $0.04; and
o Diluted operating earnings per share in the range of $0.x04 to $0.05
Second Quarter Web cast
The Company will host a web cast at 5 p.m. ET June 14th to discuss its second
quarter fiscal year 2005 results. Individuals can access the web cast, as well
as this press release and supplemental financial information, at
http://www.b2i.us/external.asp?b=851&id=163&from=wc&L=e or listen to the call
please dial 800-374-1498 (North American Callers) or 706-643-0395 (International
Callers).
About IceWEB
IceWEB, Inc. (OTCBB:IWEB - News), is the trusted enabler of small and medium
sized organizations, delivering hardware, software and professional services.
Our ASP software delivery model reduces the TCO, and improves efficiency of IT
environments. Our proven packaged solutions and uniquely tailored services
ensure business value in the SME environment. Founded in 2000, ICEWEB is
headquartered in Herndon, V.A., and serves over 30,000 users in the public and
private sector. IceWEB(TM) products and services are available on GSA Contract #
GS-35F-5149H. For more information, please visit http://www.iceweb.com.
To be added to our investor relations email list please go to:
http://www.b2i.us/frame.asp?BzID=851&to=ea&Nav=0&S=0&L=1 or call investor
relations at 703-964-8000 ext 100.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995: Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements that involve
risks and uncertainties, including but not limited to business conditions and
the amount of growth in the computer industry and general economy, competitive
factors, and other risks detailed from time to time in the Company's SEC
reports, including but not limited to its annual report on Form 10-K and its
quarterly reports on Forms 10-Q. The Company does not undertake any obligation
to update forward-looking statements.
All trademarks and brand names are the property of their respective companies.
______________________
Contact: IceWEB, Inc.
My Le Phuong, 703-964-8000 ext 100
investor@iceweb.com
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