|[February 14, 2013]
IceWEB CEO, Rob Howe, Comments on First Quarter Results
STERLING, Va. --(Business Wire)--
IceWEB (News - Alert), Inc.™ (OTCBB:IWEB), an award-winning Unified Data Storage
appliance provider for cloud and virtual environments that features a
highly secure, scalable IceBOX Private Digital Cloud solution today
announced that CEO, Rob Howe, has issued the following comments
regarding the Company's performance in the first quarter.
We reported our 10Q for Q-1 of our 2013 fiscal year (Oct-Dec of 2012)
today. It reflects many improvements over Q-4 of 2012, and much progress
was made, but let me get to the highest area of interest
first-revenue. Although our October sales were progressing at a record
clip, immediately after the Presidential election, because of the high
percentage of our company's historical customer focus in the government
and education sectors, our November and early December revenues were
severely curtailed by the uncertainty surrounding the outcome of the
fiscal cliff and the sequester. That dynamic in those sectors is still
in play. As reported in the Wall Street Journal on 01/30/2013
"WASHINGTON-U.S. economic momentum screeched to a halt in the final
months of 2012, as businesses pared back inventories and government
spending fell sharply, while lawmakers struggled to reach a deal on tax
increases and budget cuts."
Many committed Purchase Orders were put on hold, or pulled back
indefinitely. Many customers, because they did not know what was going
to happen to their budgets, went into immediate pause mode and suspended
purchase activity. The net of all this is that our revenue performance
for Q-1 was far below what we hoped. And, with all due respect to pigs,
there is little value in attempting to perfume a pig-our revenue
performance in Q-1 was disappointing.
As we have indicated previously, given the continuing concerns about the
sequester in the government and education sectors, I pivoted the
company's sales efforts to a new direction-1. to a more corporate focus,
and 2. to our Cloud Services offerings, which include a strong hrdware
component, featuring our IceBOXTM Private Cloud products. I
have reorganized and refocused our sales organization on these
principles, and early Q-2 sales thus far show that our pivot is working
in that important and fast-growing customer sector.
Finally, I am optimistic concerning our outlook for Q-2, despite the
relentless shorting pressure that has recently battered our stock price.
Our pivot has begun to generate new sales faster, and we expect to
report better results than we did last quarter. As we continue to
improve our products and expand our offerings in the Cloud Services
sector, we expect our sales and our results will to continue to improve
Rob Howe, CEO
About IceWEB : For more information please call
800-465-4637 or visit www.iceweb.com.
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This press release may contain forward-looking statements, which are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. In some cases you can identify those
so-called "forward looking statements" by words such as "may," "will,"
"should," "expects," "plans," "targets," "believes," "anticipates,"
"estimates," "predicts," "potential," or "continue" or the negative of
those words and other comparable words. These forward looking statements
are subject to risks and uncertainties, product tests, commercialization
risks, availability of financing and results of financing efforts that
could cause actual results to differ materially from historical results
or those anticipated. Further information regarding these and other
risks is described from time to time in the Company's filings with the
SEC (News - Alert), which are available on its website at: http://www.sec.gov.
We assume no obligation to update or alter our forward-looking
statements made in this release or in any periodic report filed by us
under the Securities Exchange Act of 1934, as amended, or any other
document, whether as a result of new information, future events or
otherwise, except as otherwise required by applicable federal securities
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