Claimsnet.com, Inc. (CLAI.OB) Reports Third Quarter Loss
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…