Claimsnet.com Reports First Quarter 2007 Results Including a 25% Increase in Revenues
27 4월 2007 - 3:40AM
PR Newswire (US)
DALLAS, April 26 /PRNewswire-FirstCall/ -- Claimsnet.com inc.
(OTC:CLAI) (BULLETIN BOARD: CLAI) , a leading provider of
Internet-based business-to- business solutions for the healthcare
industry, today reported its results for the first quarter of
fiscal 2007, which ended March 31, 2007. For the quarter ended
March 31, 2007, the Company reported revenues of $415,000, a 25%
increase from the $331,000 reported for the first quarter of 2006.
Expenses overall increased 25% compared with the first quarter of
2006. Cost of revenues for the first quarter of 2007 was $301,000
compared to $218,000 in the first quarter of 2006, a 38% increase.
Selling, general and administrative expenses of $198,000 were
reported for the first quarter of 2007, representing a 10% increase
from the $180,000 reported in the first quarter of 2006. The
Company reported a gross profit of $114,000 for the first quarter
of 2007, compared with a $113,000 gross profit in the first quarter
of 2006. This is the fifteenth consecutive quarter in which the
Company has reported a gross profit. The loss from operations for
the first quarter of 2007 was $(84,000), compared to a loss of
$(67,000) reported in the first quarter of 2006. The net loss for
the first quarter of 2007 was $(107,000), or $(.00) per share,
compared to $(79,000), or $(.00) per share, in the first quarter of
2006. "While we are pleased with the 25% growth in sales, our loss
from operations increased compared to last year. This primarily
resulted from extra efforts that were expended to upgrade our ASP
server operations, providing updated hardware and software, and
increased capacity. Our expectation is that going forward we will
benefit from this as our efforts in top line growth continue to pay
off, and expenses again return to more normal levels," commented
Don Crosbie, chief executive officer of Claimsnet. Claimsnet.com
inc. is a leading provider of Internet-based claim processing
solutions for the healthcare payer industry, including distinctive,
advanced ASP technology. Headquartered in Dallas, Texas, Claimsnet
offers systems that are distinguished by ease of use, customer
care, security and measurable cost advantages. More information on
Claimsnet can be found at the Company's web site at
http://www.claimsnet.com/ . Forward-Looking Statements - With the
exception of historical information, the matters discussed in this
press release are forward looking statements that involve a number
of risks and uncertainties. The actual future results of the
Company could differ significantly from those statements. Factors
that could cause or contribute to such differences include, but are
not limited to, maintaining access to external sources of capital,
regulatory actions, success of marketing strategies, actions of the
Company's competitors, dependence on suppliers and distribution
channels, continued use of the Internet, achieving the anticipated
benefits of capital expenditures, and achieving anticipated expense
reductions. Further information on the Company's risk factors is
contained in the Company's quarterly, annual, and other periodic
reports as filed with the Securities and Exchange Commission.
[Table to Follow] CLAIMSNET.COM INC. AND SUBSIDIARIES SUMMARY
OPERATIONS STATEMENT INFORMATION (In thousands except per share
data) (unaudited) Quarter Ended March 31, 2007 2006 REVENUES $415
$331 COST OF REVENUES $301 $218 GROSS PROFIT $114 $113 SELLING,
GENERAL AND ADMINISTRATIVE $198 $180 LOSS FROM OPERATIONS $(84)
$(67) INTEREST EXPENSE $(23) $(12) NET LOSS $(107) $(79) NET LOSS
PER COMMON SHARE - BASIC $(0.00) $(0.00) WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING - BASIC AND DILUTED 26,043 25,976 DATASOURCE:
Claimsnet.com inc. CONTACT: Don Crosbie of Claimsnet.com inc.,
+1-972-458-1701, Ext. 112, or Web site: http://www.claimsnet.com/
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