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| "The application they provided for us and their service are fantastic." |
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| Ross Appenzeller - XL Aerospace |
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Warp 9 Announces Q2 Results
Reports second highest operating profit in Company's history
February 12, 2009 - Santa Barbara, CA - Warp 9, Inc. (OTCBB: WNYN), the premier provider of robust e-commerce platforms and services, today announces financial results for its quarter ended December 31, 2008.
Highlights of the financial results for the quarter:
- Nine consecutive quarters of positive net income
- Operating income of $182,351 is the second highest in Company's history
- Gross margin holding at greater than 90%
- A 96% reduction in long term liabilities to $32,060 from $791,203 in the prior year and a 78% reduction in total liabilities to $334,526 from $1,545,682 in the prior year
- Increase in net working capital to $882,242, compared to $210,193 for the prior year
Warp 9's President and CEO, Harinder Dhillon, stated, "The fiscal discipline applied during our turnaround phase continues to serve us well during this economic slowdown. Our growing cash position, further reduction of debt, maintaining of gross margin, a push by retailers and consumers to move to online commerce, and the benefits of our Software-as-a-Service (SaaS) model vs. our competition are a solid platform on which to grow -- even in this tougher economic climate."
Warp 9 powers some of the most successful e-commerce websites for retailers such as www.magellans.com, and Spiegel Brands' www.carabella.com, www.ablambdin.com, and www.shapefx.com.
About WARP 9
Warp 9, Inc. is the premier provider of robust e-commerce platforms and services for the catalog and retail industry. Its comprehensive and scalable suite of software platforms are designed to help online retailers maximize the Internet channel by applying Warp 9's advanced technologies for online catalogs, e-mail marketing campaigns, and interactive visual merchandising. With a proven track record and years of experience in the industry, Warp 9 helps businesses leverage the Internet channel to lower costs and increase sales. Offered on a fully managed software-as-a-service model, Warp 9 products allow customers to focus on their core business, rather than technical implementations.
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Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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