Darien, Ill.-based online broker Quotesmith.com Inc. revised the financial targets for 2003 that were announced Oct. 2, 2003. In October, the company anticipated 2003 revenues of $9.5 to $10 million with a projected net loss of $450,000 to $650,000 and year-end cash and investments of $14.5 to $15 million.
The company now anticipates 2003 revenues of approximately $9.4 to $9.8 million and a net loss of approximately $1.1 to $1.5 million, with year-end cash and investments still between $14.5 and $15 million. Depreciation and amortization charges for 2003 are expected to total $1.0 million. In 2002 the company reported a net loss of $2.7 million on revenue of $10.8 million.
Quotesmith.com also announced financial guidance for 2004. Revenues are expected to be $11 to $13 million with a net profit of $750,000 to $1,000,000. Year-end 2004 cash and invested assets are expected to be $15 to $16.5 million.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
AIG Steps Back from NPW Growth Target on Pressure in Some Lines 
More Florida Insurers Announce Rate Cuts for Auto, Homeowners, Condo Units 
US Court Reinstates ‘Sunday Ticket’ Class Action Verdict Against NFL 
LA Port Strike Risk Pushed to Friday as Labor Talks Continue 
