eAutoclaims Reports 3rd Consecutive Quarter of Profitability
December 12 2003 - 5:54PM
PR Newswire (US)
eAutoclaims Reports 3rd Consecutive Quarter of Profitability
Collision Repair Management Drives Profitability OLDSMAR, Fla.,
Dec. 12 /PRNewswire-FirstCall/ -- eAutoclaims (BULLETIN BOARD:
EACC) has just completed its third consecutive profitable quarter.
Net income for the nine months ended October 31, 2003 totaled
$240,344 compared to a net loss of $3,240,908 for the nine months
ended October 31, 2002, an improvement of $3,481,252. Revenue for
the nine months ended October 31, 2003 was $26,752,184. This
represents a 10% increase from the $24,277,224 of revenue for nine
months ended October 31, 2002. For the first quarter ended October
31, 2003, total revenues were $8,690,511 versus $8,165,876 for the
first quarter ended October 31, 2002, an increase of 6%. The net
profit for the first quarter was $10,242, compared to a loss of
$876,852, an improvement of $887,094. Eric Seidel, president and
chief executive officer, commented, "The company is excited with
our continued success, the past nine months of profitability
represents the continued market acceptance and demand of our
product and services. We have continued to hold down expenses
through the leveraging of technology; the net results are better
service for our clients and an improvement in our margins." About
eAutoclaims: eAutoclaims (OTC:EACC) (BULLETIN BOARD: EACC) is a
business services company that provides the insurance industry with
claims management services through both ASP and integrated
outsourcing solutions. The Company's clients are insurance
companies, fleet management companies and insurance services
companies. eAutoclaims' solutions streamline the claims handling
process, decreasing the overall time and cost required to process a
collision claim and reducing average paid losses for its clients.
The Company handles repair estimates, repair audits and claims
systems administration services for automobile claims that are
processed and tracked via the eAutoclaims Web-based platform and
network of service providers. This announcement contains
"forward-looking statements." Words such as "anticipate,"
"believe," "estimate," "expect" and other similar expressions as
they relate to the Company and its management are intended to
identify such forward-looking statements. Although the Company and
its management believe that the statements contained in this
announcement are reasonable, it can give no assurances that such
statements will prove correct. Factors that could affect the
occurrence of events or results discussed herein are included with
those mentioned in the Company's filings with the Securities and
Exchange Commission. DATASOURCE: eAutoclaims, Inc. CONTACT: Jeff
Dickson, Chairman, eAutoclaims, +1-813-749-1020, ext. 202, or
email, Web site: http://www.eautoclaims.com/
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