Claimsnet.com reported revenues of $565,000 in its third quarter, up 7% on a year over year basis. The company’s net loss for the quarter was $69,000, or $0.00 per share. During the same quarter in 2008, the company lost $161,000 or $0.01 per share.
Claimsnet.com cut its selling, general and administrative expenses by $45,000 from the third quarter of 2008, and boosted its gross profit by $20,000.
Don Crosbie, the CEO of Claimsnet.com, said “these third quarter results were achieved in a relatively challenging economic environment where many companies are still delaying decisions or putting new contracts on hold.” Crosbie was optimistic about the last quarter of 2009 and 2010, citing the company’s pipeline and said “we do see the beginning of a positive change in the environment.”
Claimsnet.com provides services and software to the healthcare industry that allows the submission and processing of healthcare claims and other data over the Internet. Its target market is insurance companies, health maintenance organizations, and preferred provider organizations. Claimsnet.com is headquartered in Dallas, Texas.