Darien, Ill.-based online broker Quotesmith.com Inc. reported revenues of $4.4 million in the first quarter of 2005, an increase of 79 percent over revenues of $2.5 million for the same quarter of last year. That still meant a net loss for the quarter of $525,000, or 7 cents per share, compared to a loss of $620,000, or 12 cents per share, in the first quarter of 2004. Financial results for the first quarter of 2005 include results from the May 2004 asset acquisition of Life Quotes Inc.
Cash and investments at March 31, 2005, amounted to $9.1 million vs. $9.3 million at year-end 2004. Operating activities used $69,000 of cash during the first quarter of 2005. In the same period of 2004, operating activities used $496,000 of cash. Stockholders’ equity amounted to $27 million on March 31, 2005 as compared to $27.6 million on December 31, 2004.
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