ShopSite in the News

ShopSite, Inc. Reports Net Profit Based Upon EBITDAL

2001 Net Profit is confirmed by independent accounting firm.

PROVO, Utah, March 11, 2002 -- ShopSite, Inc., a leading provider of easy-to-use shopping cart software, reports that it had a net profit for the recently completed 2001 fiscal year based upon earnings before interest, taxes, depreciation, amortization, and leases (EBITDAL). "We know that many merchants and hosting providers are concerned about the financial viability of the software vendors they are using given the recent state of the economy" said David Hills, chief executive officer of ShopSite. "Even though we are a private, employee-owned company, we felt it was important to let our customers and partners know our status based upon one of the accounting industry's measurements of profit."

Mr. Hills attributed a large part of their success to three factors.

  • ShopSite's ease of use enables it to be used by any merchant.
  • With over 200 hosting partners, ShopSite has a large distribution channel.
  • The employee ownership helps ShopSite, Inc. to care more and work harder.

"I believe we are the only major shopping cart vendor that can report any kind of profit according to generally accepted accounting principles" said Hills. He added that "while it is still early in 2002, thus far we are continuing to see sales increase and expect this year to be even better than the last."

ShopSite's financial information was reviewed by the accounting firm of Hawkins Cloward & Simister.

About ShopSite

ShopSite, Inc. is a privately held company based in Orem, Utah, and has provided electronic commerce software for small- to medium-sized businesses since 1996. The company's software is a powerful yet easy-to-learn online shopping cart system. With ShopSite software, merchants can manage their online stores entirely, regardless of technical background—no HTML coding required.

ShopSite is available through hosting companies such as LexiConn, pair Networks, GoDaddy, Bluehost, HostMonster, and PSPINC.com. The ShopSite family includes five products:

  • ShopSite Express™ Add up to 10 order buttons to your website or blog.
  • ShopSite Starter™ For merchants just starting out or stores with smaller product catalogs.
  • ShopSite Manager™ Unlimited products and pages, custom templates, data upload/download, store search, and more.
  • ShopSite Pro™ Advanced features including coupons, digital downloads, gift certificates, customer registration, inventory tracking, and more.
  • ShopSite Enterprise™ Integrates with database servers such as MySQL and MariaDB, enabling high performance and third-party integration options.

A comprehensive list of features across all ShopSite products is available at www.shopsite.com/scchecklist.html.

ShopSite is server-based software that works with existing web browsers, meaning merchants do not need to download or install anything on their desktop to create and manage a ShopSite store. Merchants can preview a demo version of ShopSite and obtain pricing information at www.shopsite.com.

Follow ShopSite on social media:

Twitter: http://twitter.com/shopsite
Facebook: https://www.facebook.com/ShopSiteInc