TravelNow reports revenue, income in 1st filing with SEC

Springfield's TravelNow.com Inc. had annual revenue of $886,172 with net income of $27,484 in the year that ended March 31, according to the first filings the company made as a public company. For the quarter that ended June 30 TravelNow had revenue of $381,499.

"We are gratified that our financial results are in the black for the fiscal year ended March 31," Jeff Wasson, co-CEO of the company, said in a release.

The company announced a number of additions to its executive staff.

Among the new executives is Ross Summers, former general manager of TCI of Springfield. Summers, an early investor in the company, is general manager for TravelNow.

TravelNow merged July 23 with a Florida public company that was no longer active. With its initial regulatory filings, the company now trades as TravelNow under the symbol TNOW. Its shares are traded on the OTC Bulletin Board. The stock closed Oct. 13 at $13.375 a share. The stock has traded as high as $15.125 a share since TravelNow's merger, when it opened at $5.125 per share.

In its 1998 fiscal year, TravelNow reported revenues of $345,677 with a net loss of $29,079. Its 1999 revenues increased more than 157 percent.

The company announced it had gross bookings through its reservation system in excess of $16.5 million for the quarter that ended Sept. 30. That's up from the previous quarter that ended June 30 when gross bookings exceeded $8.3 million.

TravelNow offers hotel reservations, car rentals and airline tickets on the Internet. The company has its own site at

www.travelnow.com

and more than 10,000 alliances with other Web sites linked to its reservation system.