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Execs Say Quotesmith Will Turn A Profit

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NU Online News Service, Dec. 12, 2003, 4:26 p.m. EST – Quotesmith.com Inc., Darien, Ill., says in a new financial guidance that it hopes to generate more than $750,000 in net profits in 2004 on at least $11 million in revenue.[@@]

The company will lose about $450,000 on $9.5 million in revenue this year, the company says.

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Quotesmith.com has been known as a Web-based insurance broker. The company hopes to increase revenue and profits in the coming year by using a call center to sell to site visitors who are afraid of transmitting personal information through the Web, according to Quotesmith Chairman Robert Bland.

The company says it believes it can turn a profit without selling more stock or taking on more debt.