ATLANTA, May 9, 2006 (PRIMEZONE) -- Market-Pulse.com announces its trade alert for NeWave, Inc. (OTCBB:NWWV). According to Bernard R. Schmitt of Market Pulse, "The company has had excellent news recently regarding record revenue as well as its first-ever profit during the first quarter of 2006." In a press release issued earlier today by NeWave, CEO Michael Hill stated, "I am extremely proud to announce to our shareholders, NeWave's first-ever profit generated from remarkable growth in the first quarter. Additionally since January 1, we have been able to reduce our debt by over $1 million."
Revenue for the quarter ended March 31, 2006 was a record $3,932,343 vs. $1,258,616 for the quarter ended March 31, 2005, a 212% increase. Net income during the quarter ended March 31, 2006 was $194,380 vs. a net loss of ($1,291,480) for the quarter ended March 31, 2005. The Company's complete financial results can be viewed in its Form 10-QSB filing for the quarter ended March 31, 2006.
Hill added, "During mid-2005, we embarked on an aggressive plan to focus exclusively on our core business, which we will felt would ultimately assist us in accelerating our path to growth and profitability. Ultimately, we will explore all options necessary to extract a valuation for our shareholders commensurate with our performance and look forward to continued progress this year."
About NeWave, Inc.
NeWave, Inc. through its websites 'onlinesupplier.com', 'buydiscount.com" and "mysoftwaretutor.com", provides ecommerce solutions and thousands of high value products at significant savings to its online loyalty club customers and members.
To find out more about NeWave (OTCBB:NWWV), visit our websites at www.newave-inc.com, www.onlinesupplier.com, www.buydiscount.com and www.mysoftwaretutor.com. The Company's public financial information and filings can be viewed at www.sec.gov.
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