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Healthaxis Reports 4th Quarter Net Loss

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NU Online News Service, March 5, 2003, 11:22 a.m. EDT – Healthaxis Inc., Irving, Texas, is reporting a net loss of $7.8 million for the fourth quarter of 2002 on $5.1 million in revenue, compared with a $3.8 million net loss on $5.7 million in revenue for the fourth quarter of 2001.

The company ended 2002 with $11 million in cash and cash equivalents, down from $13 million a year earlier.

Healthaxis sells administration software and Web-based administration services to health plans.

Revenue from two technology contracts with commercial companies was down in the latest quarter, but revenue from a contract with Washington state was up, the company says.