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Quotesmith Reports Lower 2nd Quarter Net Loss

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NU Online News Service, July 24, 1:12 p.m. – Inc., Darien, Ill., is reporting a $222,000 net loss for the second quarter on $3.2 million in revenue, compared with a $2.6 million net loss on $2.1 million in revenue for the second quarter of 2001.

The Web-based insurance broker says its operating loss, which excludes $76,000 in interest income in the latest quarter, fell to $298,000, from $2.9 million.

Revenue per transaction rose 25% from the comparable quarter in 2001, to $504, while average marketing costs per policy sold fell 78%, to $105, the company says.

The company notes that it still has $16 million in cash and investments.


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