eAutoclaims Reports Second Straight Profitable Quarter

eAutoclaims Reports Second Straight Profitable Quarter
Collision Repair Management Drives Profitability; SG&A Down Sharply 


OLDSMAR, Fla., Oct. 29  /PRNewswire-FirstCall/ -- eAutoclaims  (BULLETIN BOARD:
EACC)  has just completed its second profitable quarter. Net income for the
six-months ended July 31, 2003 totaled $230,102 compared to a net loss of
$2,364,056 for the six-months ended July 31, 2002, an improvement of $2,594,158.
Revenue for the six-months ended July 31, 2003 was $18,061,673. This represents
a 12% increase from the $16,111,348 of revenue for six-months ended July 31,
2002. The basic net income per share was $0.01 for the six-month period versus
net loss per share of $0.14 per share in the six-month period ended July 31,
2002. The basic weighted-average shares outstanding for the six-month period was
21,263,892 compared to 16,891,697 in the prior comparable six-month period.

For the fiscal year-ended July 31, 2003, total revenues were $34,061,072 versus
$32,283,363 in fiscal 2002, an increase of 6%.  Net loss for the fiscal year was
$1,184,253, compared with a loss of $4,210,954, a 72% decrease. The losses for
both fiscal year periods reflect several non-cash items. Net loss per share for
the year decreased to $0.06 from $0.32 per share in the year- ended July 31,
2002. The weighted average shares outstanding for fiscal 2003 was 20,209,634
compared with 14,813,549 in the prior comparable period.

Eric Seidel, president and chief executive officer, commented, "We are pleased
to report that we were profitable for the last six months of the fiscal year. As
expected, our collision repair management revenues continue to growth, up 6%
compared with fiscal 2002. In addition, our focus on higher margin products has
increased our margins over last year."

"We have eliminated a significant amount of expenses in an effort to reach our
profitability goal, particularly in our SG&A expenses, which we reduced by 21%
over last fiscal year," Seidel said. "We focused our efforts on improving
efficiencies through technology which reduced costs and improved our cycle time
for our customers."

About eAutoclaims:

eAutoclaims (OTC:EACC) (BULLETIN BOARD: EACC)  is a business services company
that provides the insurance industry with claims management services through
both ASP and integrated outsourcing solutions. The Company's clients are
insurance companies, fleet management companies and insurance services
companies. eAutoclaims' solutions streamline the claims handling process,
decreasing the overall time and cost required to process a collision claim and
reducing average paid losses for its clients.  The Company handles repair
estimates, repair audits and claims systems administration services for
automobile claims that are processed and tracked via the eAutoclaims Web-based
platform and network of service providers.

This announcement contains "forward-looking statements." Words such as
"anticipate", "believe", "estimate", "expect" and other similar expressions as
they relate to the Company and its management are intended to identify such
forward-looking statements. Although the Company and its management believe that
the statements contained in this announcement are reasonable, it can give no
assurances that such statements will prove correct. Factors that could affect
the occurrence of events or results discussed herein are included with those
mentioned in the Company's filings with the Securities and Exchange Commission.


DATASOURCE: eAutoclaims, Inc.



CONTACT:  Jeff Dickson, Chairman, eAutoclaims, Inc., [phone],

ext. 202, or  



Web site:  http://www.eautoclaims.com/ 

Copyright