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Claimsnet.com Reports Second Quarter 2009 Results
Date:7/30/2009

DALLAS, July 30 /PRNewswire-FirstCall/ -- Claimsnet.com inc. (OTC Bulletin Board: CLAI), a leading provider of Internet-based claims processing solutions for the healthcare industry, today reported its results for the second quarter of 2009, which ended June 30, 2009.

For the quarter ended June 30, 2009, Claimsnet reported revenues of $563,000, a 6% increase compared to the $529,000 reported for the second quarter of 2008. Revenues for the six months ended June 30, 2009 were $1,082,000, a 6% increase compared to the $1,018,000 reported for the six months of 2008.

Cost of revenues for the second quarter of 2009 was $419,000 compared to $422,000 for the second quarter of 2008, a 1% decrease. Cost of revenues for the six months of 2009 was $832,000 compared to $810,000 for the six months of 2008, a 3% increase. Selling, general and administrative expenses of $221,000 were reported for the second quarter of 2009 compared to $281,000 reported for the second quarter of 2008, a 21% decrease. Selling, general and administrative expenses of $472,000 were reported for the six months of 2009 compared to $487,000 reported for the six months of 2008, a 3% decrease.

Claimsnet reported a gross profit of $144,000 for the second quarter of 2009, compared with a gross profit of $107,000 for the second quarter of 2008, a 35% increase. Claimsnet reported a gross profit of $250,000 for the six months of 2009, compared with a gross profit of $208,000 for the six months of 2008, a 20% increase.

The loss from operations for the second quarter of 2009 was $(77,000) compared to $(174,000) reported for the second quarter of 2008, a decrease of 56%. The loss from operations for the six months of 2009 was $(222,000) compared to $(279,000) reported for the six months of 2008, a decrease of 20%. The net loss for the second quarter of 2009 was $(87,000), or $(
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SOURCE Claimsnet.com
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