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| "The application they provided for us and their service are fantastic." |
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| Ross Appenzeller - XL Aerospace |
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Warp 9 Begins Trading Under Symbol WNYN
November 2, 2006 - Santa Barbara, CA - Warp 9, Inc. (OTCBB: WNYN), the premier provider of robust e-commerce platforms and services for the catalog and retail industry, today announced that the Company's shares have been approved for trading on the NASD's Over-the-Counter Bulletin Board market under the new symbol, WNYN.
According to the 2006 State of Retailing Online report from Forrester Research, online sales will top $200 billion this year alone, representing an increase of 100% from just 3 years ago. With years of brand equity and experience in the industry, Warp 9 is poised to benefit from this industry growth trend. Warp 9 offers its e-commerce software solutions on a Software-as-a-Service model. This means that customers pay Warp 9 a recurring monthly fee -- based on sales volume -- to use Warp 9 products for online catalogs, e-mail marketing campaigns, and interactive visual merchandising. This business model allows customers to focus on their core business, rather than technical implementation and has been well received by the market. Warp 9 benefits from this model by having predictable revenue growth and cash flow.
With a Software-as-a-Service model, every new customer predictably translates into incremental quarter to quarter revenue growth, with gross profit margins in the 80% range. For the most recent fiscal year ended June 30, 2006, Warp 9's revenue grew 48% from the previous fiscal year ended, June 30, 2005.
"We are very excited to go forth under our new trading symbol, WNYN," said Harinder Dhillon, the Company's President and CEO. "This is an exceptional opportunity for all of us at Warp 9. We have one of the most robust e-commerce offerings on the market, and this industry is growing by leaps and bounds. We are out of the early tentative growth stages and are now expecting to see continual and significant sales growth."
"Our team of dedicated engineers, customer service personnel and creative graphic artists, has continually focused on providing excellent customer service, while bringing rapid technical innovation to Warp 9's e-commerce solutions. We believe we have the perfect combination of characteristics to develop a rapidly growing company for our shareholders," concluded Mr. Dhillon.
About WARP 9
Warp 9, Inc. is the premier provider of robust e-commerce platforms and services for the catalog and retail industry. Its comprehensive and scalable suite of software platforms are designed to help online retailers maximize the Internet channel by applying Warp 9's advanced technologies for online catalogs, e-mail marketing campaigns, and interactive visual merchandising. With a proven track record and years of experience in the industry, Warp 9 helps businesses leverage the Internet channel to lower costs and increase sales. Offered on a fully managed software-as-a-service model, Warp 9 products allow customers to focus on their core business, rather than technical implementations.
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Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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