Newtek Reports Web Hosting Payments Growth

HostReview.com
Friday, November 5, 2004; 04:36 PM

Newtek Business Services, Inc. (www.newtekbusinessservices.com), a provider of business services and financial products to the small to medium-sized business market, today announced its third quarter earnings of $0.13 per share on revenues of $21.6 million.

Wall Street analyst estimates averaged $0.13 per share for the quarter.

Barry Sloane, Chairman and CEO of Newtek Business Services, Inc., said, "The third quarter 2004 results are consistent with our business plan and demonstrate our success in the small to medium-sized business market with profitable business operations in lending, merchant processing and web hosting for the third quarter."

During the third quarter Newtek experienced revenue growth in its small business lending and electronic payment processing over the same period in the previous year.

The company's certified capital company revenue declined as compared to the same period in 2003, a reflection of the company's plan that its growth in revenue and profitability in the future will come from its core operating subsidiaries.

Newtek Business Services, Inc. will be conducting a conference call today at 4:10 pm EST to discuss the company's results for the third quarter 2004. The conference call will be accessible via a toll free number by dialing 800-295-3991 and providing the pass code 15376967.

The conference call will also be broadcasted over the Internet through Newtek's website at http://www.newtekbusinessservices.com.