-- EBITDA was $649,882, an increase of $162,971 or 33.5% from $486,911
for the same period in 2006.
-- Net Income was $308,568, an increase of $120,886 or 64.4% from
$187,682 for the same period in 2006.
-- Interest Expense was $35,469, a decrease of $25,500 or 41.8% from
$60,969 for the same period in 2006.
"2007 is a pivotal year for Sitestar and we have started aggressively,"
said Frank R. Erhartic, Jr., CEO for Sitestar. "We successfully
consummated two acquisitions which will have a positive impact upon our
revenue stream. We also garnered attention from the investor community
with interviews featured in widely-read investor publications and have
effectively sustained a share price over eleven cents. Given our momentum,
acquisition pipeline and pending launch of VoIP, we are optimistic about
our potential for growth throughout this year."
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements that are based on
management's expectations, estimates, projections and assumptions. The
Company assumes no obligation except as required by law to update the
forward-looking statements contained in this press release as a result of
new information or future events or developments. These forward-looking
statements generally can be identified by words such as "believes,"
"expects," "projects," "anticipates," "foresees," "forecasts," "estimates,"
"should" or other words or phrases of similar import. Forward-looking
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, as amended. These statements are
not guarantees of future performance and involve certain risks and
uncertainties, which are difficult to predict. Therefore, actual future
results and trends may differ materially from what is forecast in
forward-looking statements due to a variety of factors, including and
without limitation, as found in the Company's reports filed with the
Securities and Exchange Commission.
About Sitestar
Sitestar (www.sitestar.com) is an Internet and computer solutions provider
that offers narrowband and broadband Internet access services, Web hosting
and design, and other value-added services including web acceleration, spam
and virus filtering as well as spyware protection. Headquartered in
Lynchburg, Virginia, Sitestar maintains multiple sites of operation and
provides services to customers throughout the U.S. and Canada, with
concentrations in customers in the Mid-Atlantic and Rocky Mountain regions
in the U.S. and in Ontario, Canada. With a focus on competitive pricing,
reliability, service and speed, Sitestar delivers customer value.
Contact Information: Contact: Frank R. Erhartic, Jr. 434-239-4272 Email Contact