Online b2b Exchange Grows Profit by 171%
August
14, 2000
Richard
Ivanovick, CA, Chief Financial Officer of RecycleNet Corporation
(OTC GARM) announced a favorable second quarter of 2000.
For the three months ended June 30, 2000 RecycleNet Corporation
recorded a 613% sales increase over the same period last
year.
Sales
have grown 106% this quarter over last quarter while
over the same comparable period, Profits have grown 171%.
Paul
Roszel, Chairman of RecycleNet Corporation was pleased with
the Company's solid first quarter and the improved second
quarter results have shown over 100% top and bottom line
growth over the first quarter. This puts RecycleNet Corporation
in a unique position as one of the worlds elite b2b marketplaces
by delivering profitable operations contrary to the business
results to date of others in the E-Commerce arena such as
VerticleNet (VERT), Amazon.com (AMZN) and Ventro (VNTR).
RecycleNet
Corporation is a world leader in turnkey b2b software distribution
through the Rhodium WebWeaver as well as a dynamic Internet
portal that facilitates e-commerce trading through Recycler's
World (www.recycle.net).
The Rhodium WebWeaver provides unprecedented speed to market
in the implementation of b2b and b2c marketplaces.
RecycleNet
Corporation's profitable business model puts it in a position
to pursue its aggressive plans of merger, acquisition, strategic
alliance and rapid internal organic growth.
For
further information contact:
Tom
Hattle
RecycleNet Corporation
Tel. (519) 767-2913
1999
News Releases
2000
News Release
