Philippine software engineering firm, Webworks OS, reported excess gains of $500,000 in its first year of operations. This was attributed to an increase in foreign projects. Joey Gurango, CEO of Webworks OS, said that the company is expected to have $1.7 million in revenues by the end of 2005.

According to Gurango, various foreign projects contributed to the company's success. Webworks OS worked on three major outsourcing projects, and launched their Questionnaire Management System used for student examination deployment and answer analysis. The company's gains can also be attributed to increased stock options (17,000 shares to 78,000 shares) for their employees.

At present, Webworks OS has the highest number of Microsoft professionals in the Philippines. The company has more than 60 full-time engineers, most of which are certified software professionals. In the next 12 months, the company will take steps to become 100 percent certified.

Gurango said, "Webworks OS is well positioned to make its mark in the outsourcing space after clearly demonstrating in a year's time that the company has the technical expertise to compete on a global level. We are confident that 2005 will be an even better year for us."