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EBenX Reports Bigger 4th Quarter Net Loss

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NU Online News Service, Feb. 6, 4:24 p.m. –EBenX Inc., is reporting a $39 million net loss for the fourth quarter of 2001 on $13 million in revenue, compared with an $8.2 million net loss on $9.4 million in revenue for the fourth quarter of 2000.

The company, which develops health benefits administration systems, still has $50 million in cash and short-term investments, according to company figures, but it says it will take a $6 million charge this quarter to cover the cost of implementing a new plan.

“By rationalizing and leveraging assets corporate-wide, including the consolidation of offices and integration of functions, the company anticipates improved gross margins,” eBenX says.