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Quotesmith Reports 2nd Quarter Net Loss

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NU Online News Service, July 30, 2003, 3:29 p.m. EDT – Inc., Darien, Ill., a Web-based insurance broker, is reporting a $308,000 net loss for the second quarter on $2.5 million in revenue, compared with a $222,000 net loss on $3.2 million in revenue for the second quarter of 2002.

The company ended the quarter with $808,000 in cash and cash equivalents, down from $1.6 million Dec. 31, 2002, but the company also had more than $14 million in invested assets, which was about as much as it had six months earlier.