eAutoclaims Announces Third Fiscal Quarter Results eAutoclaims Prepares for Additional Business From Co-Marketing Agreement OLDSMAR, Fla., June 21 /PRNewswire-FirstCall/ -- eAutoclaims (OTC:EACC) (BULLETIN BOARD: EACC) reports the financial results for their third fiscal quarter ended April 30, 2004. The net loss for the nine-months ended April 30, 2004, was $1,552,261 compared to $1,230,879 for the nine-months ended April 30, 2003. The Company incurred a non-cash, one-time charge of $861,006 relating to the issuance of incentive stock options grants to management as a result of the Company executing a significant contract with ADP Claims Services, Inc. (ADP). The Company also incurred set-up costs to prepare for additional business that is expected from a Co-Marketing Agreement with ADP. Revenue for the nine-months ended April 30, 2004 was $22,763,090. This represents a 10% decrease from the $25,387,571 of revenue for nine-months ended April 30, 2003. The Company's decrease in revenue is predominately related to the reduction in business, as announced last year, from the Company's largest customer. The Company's largest customer sold approximately 50% of their auto physical damage business to another insurance company. The customer has retained their remaining business and is continuing to use eAutoclaims repair network. Eric Seidel, President and Chief Executive Officer, commented, "While we are disappointed the company is having to incur the partial loss of business from our largest client in this quarter's results, and expect the fourth quarter results to continue this trend, the loss in business was not unexpected. We are pleased with the new business recently announced, as it is the first step in management's plans to replace the lost revenue. We are also excited by the progress we have made with our Co-Marketing Agreement with ADP. We are laying the groundwork for an exciting fiscal year 2005." The revenue for the three-months ended April 30, 2004, was $6,563,222 compared to 9,388,172 for the three-months ended April 30, 2003. The Company reported a net loss of $1,338,336 for the three-months ended April 30, 2004 compared to net income of $183,631 for the same time period in 2003. The net loss in the three-months ended April 30, 2004 includes the non-cash, one-time charge of $861,006 relating to the issuance of incentive stock options grants described above. For: eAutoclaims, Inc. For More Information: Jeff Dickson, Chairman 813-749-1020, Ext. - 202 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, satisfies, 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 of eAutoclaims, Inc., +1-813-749-1020, ext. 202, or Web site: http://www.eautoclaims.com/

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