QUOT reports its year end results and provides some guidance for 2001. Interesting and commendable that they would give so much detail related to 2001.
Quotesmith.com sees 2001 net loss of $8 mln-$9 mln
DARIEN, Ill., Jan 23 (Reuters) - Quotesmith.com Inc. <QUOT.O>, an online provider of auto, life, health and dental insurance quotes, said on Tuesday it expects a net loss in the range of $8 million to $9 million in 2001 on revenues of about $11 million based on projected marketing expenses.
Quotesmith said it expects 2001 marketing expenses to be consistent with levels in the fourth quarter of 2000 and that it expects budgeted spending in 2001 to be more consistent than in 2000.
The company does not intend to increase its quarterly marketing expenditures until the technical portions of its planned expansion into auto and other lines of insurance are fully implemented, Quotesmith said.
Quotesmith is currently projecting year-end cash and investment balances of about $18 million, it said.
Also on Tuesday, Quotesmith 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, in the same period in 1999.
Revenues for the fourth quarter dropped 12 percent to $2.6 million from $3.0 million in the fourth quarter of 1999.
In 2000, the company posted a net loss of $18.6 million, or 98 cents a share, compared with a net loss of $13.8 million, or 88 cents a share, in 1999 as increased advertising expenses cut into the bottom line.
Revenues in 2000 rose to $15.2 million, an increase of 81 percent over 1999 revenue of $8.4 million, with growth resulting primarily from a 68 percent increase in advertising expense in 2000 to $24.2 million from $14.4 million in 1999.
19:07 01-23-01 |
