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

0.00) per share, compared to net loss of ($200,000), or $(0.01) per share, for the second quarter of 2008. The net loss for the six months of 2009 was $(244,000), or $(0.01) per share, compared to net loss of ($333,000), or $(0.01) per share, for the six months of 2008.

In a comparison with the first quarter of 2009, sales increased 8%, the loss from operations decreased 47% and gross margins improved by 5% to 26%.

"We are pleased, in the current economic environment, with the 6% growth in sales. Our loss from operations in the second quarter decreased compared to last year by 56%. This decrease in loss resulted from both the increase in sales and a decrease in overall costs associated with actions the Company took in April 2009, as it focused on moving towards profitability over the next several quarters. This resulted in significant improvements in both May and June of the quarter. New customer implementations and increased business from the more than 70 direct payer customers and 35 clearinghouse business relationships are adding to the top line sales. Our expectation is that over the next two quarters we will see continued benefits of these efforts in operating profitability and cash flow," commented Don Crosbie, Chief Executive Officer of Claimsnet. "Also, the Company reached a milestone in the second quarter with more than a million transactions processed in each month. This was the first time that this volume level has been reached in a quarter."

Claimsnet.com inc. is a leading provider of Internet-based claim processing solutions for the healthcare payer industry, including distinctive, advanced ASP technology. Headquartered in Dallas, Texas, Claimsnet offers systems that are distinguished by ease of use, customer care, security and measurable cost advantages. More information on Claimsnet can be found at the company's web site athttp://www.claimsne
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SOURCE Claimsnet.com
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