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Claimsnet.com Reports First Quarter 2009 Results
Date:4/28/2009

Including a 6% Increase in Revenues

DALLAS, April 28 /PRNewswire-FirstCall/ -- Claimsnet.com inc. (OTC Bulletin Board: CLAI), a leading provider of Internet-based business-to-business solutions for the healthcare industry, today reported its results for the first quarter of fiscal 2009, which ended March 31, 2009.

For the quarter ended March 31, 2009, the Company reported revenues of $519,000, a 6% increase from the $490,000 reported for the first quarter of 2008.

Expenses overall, comprised of cost of revenues and selling, general and administrative expenses increased 12% compared with the first quarter of 2008. Cost of revenues for the first quarter of 2009 was $413,000 compared to $392,000 in the first quarter of 2008, a 5% increase. Selling, general and administrative expenses of $251,000 were reported for the first quarter of 2009, representing a 25% increase from the $201,000 reported in the first quarter of 2008. The increase is primarily due to increased sales personnel in 2009.

The Company reported a gross profit of $106,000 for the first quarter of 2009, compared with a $98,000 gross profit in the first quarter of 2008.

The loss from operations for the first quarter of 2009 was $145,000, compared to a loss of $103,000 reported in the first quarter of 2008. The net loss for the first quarter of 2009 was $157,000, or $0.00 per share, compared to $132,000, or $0.00 per share, in the first quarter of 2008.

"While we are pleased with the 6% growth in sales, our loss from operations increased compared to last year. This increase in loss primarily resulted from the extra investments put into the sales focus of the company. These sales efforts are paying off with the signing of new customers, which led to our increase in sales, and include a new payer customer last week. Our expectation is that over the next several quarters we will see mor
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SOURCE Claimsnet.com inc.
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