eAutoclaims Notes 3rd Straight Quarter of Profitability

Florida-based eAutoclaims just completed its third consecutive profitable quarter, according to the company.

Net income for the nine months ended Oct. 31, 2003 totaled $240,344 compared to a net loss of $3,240,908 for the nine months ended Oct. 31, 2002, an improvement of $3,481,252. Revenue for the nine months ended Oct. 31, 2003 was $26,752,184. This represents a 10 percent increase from the $24,277,224 of revenue for nine months ended Oct. 31, 2002.

For the first quarter ended Oct. 31, 2003, total revenues were $8,690,511 versus $8,165,876 for the first quarter ended Oct. 31, 2002, an increase of 6 percent. 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 CEO, 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.”