NU Online News Service, Aug. 2, 3:55 p.m. – Healthaxis Inc., Irving, Texas, a company that develops software for selling and administering benefits on the Web, is reporting a $289 million net loss for the second quarter on $12 million in revenue, compared with a net loss of $13 million on $10 million in revenue for the second quarter of 2000.
The net loss includes $5 million in cash restructuring charges, and $277 million in non-cash charges for reducing the value of goodwill carried on the books.
Healthaxis is cutting the stated value of its goodwill to $19 million, from $296 million.
The goodwill figure represents the difference between the price the company paid for other companies it acquired and the value of the underlying assets.
The latest reduction in goodwill and other reductions in goodwill have sharply reduced the stated value of the assets of the company, to $65 million June 30, from $711 million a year earlier.
Excluding the cash and non-cash restructuring charges, Healthaxis recorded $7 million in operating losses.