Quotesmith.com Reports Net Loss

Quotesmith.com expects a net loss of between $8 million and $9 million in 2001 on revenues of roughly $11 million – a figure based on projected marketing expenses. The company does not intend to increase quarterly marketing expenditures until technical portions of its planned expansion into auto and other lines of insurance are completed.

Quotesmith also reported a fourth-quarter net loss of $2.4 million, or 13 cents a share, compared with a loss of $6.8 million, or 35 cents a share, for the same period 1999. Revenues for the fourth quarter dropped 12 percent to $2.6 million from $3.0 million in the fourth quarter of 1999.

Topics Profit Loss