Restructuring Efforts Positive for eAutoclaims

Florida-based eAutoclaims Inc. said it is now seeing the anticipated results of the restructuring efforts the company initiated during the first quarter of fiscal 2003. In December 2002, the company reported a total savings of $80,000 for the month, or $960,000 on an annualized basis, and anticipates greater monthly savings as the year progresses.

According to eAutoclaims president and CEO, Eric Seidel, “These are the initial savings we realized from our first quarter restructuring. As more of our cost reductions take hold, we would expect the total savings to be approximately $1.2 million per year.”

Seidel added, “As we continue to grow the business, we believe we must examine every angle that will ensure we attain profitability, including some restructuring. We have seen our greatest savings results from both moving the South Carolina call center and other personnel changes we have instituted. Additionally, the company has been successful in implementing new technologies and processes that have increased our service and at the same time, reduced our expenses. With revenues continuing to increase, we expect to see continually improving quarters going forward.”