Claimsnet.com Reports First Quarter 2007 Results Including a 25% Increase in Revenues

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Cel Ai Plc	LSE:CLAI	London	Ordinary Share	GB00BK964W87	ORD GBP0.001

Share Name

Share Symbol

Market

Type

Share ISIN

Share Description

Cel Ai Plc

LSE:CLAI

London

Ordinary Share

GB00BK964W87

ORD GBP0.001

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	0.155	0.14	0.17	0.155	0.155	0.155	3,505,731	08:00:02

Price Change

% Change

Share Price

Bid Price

Offer Price

High Price

Low Price

Open Price

Shares Traded

Last Trade

0.00

0.00%

0.155

0.14

0.17

0.155

3,505,731

08:00:02

Industry Sector	Turnover	Profit	EPS - Basic	PE Ratio	Market Cap
Catalog, Mail-order Houses	67k	-3.31M	-0.0055	-0.67	2.23M

Industry Sector

Turnover

Profit

EPS - Basic

PE Ratio

Market Cap

Catalog, Mail-order Houses

67k

-3.31M

-0.0055

-0.67

2.23M

Claimsnet.com Reports First Quarter 2007 Results Including a 25% Increase in Revenues

26/04/2007 7:40pm

PR Newswire (US)

Cel Ai (LSE:CLAI)
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From May 2019 to May 2024

DALLAS, April 26 /PRNewswire-FirstCall/ -- Claimsnet.com inc. (OTC:CLAI) (BULLETIN BOARD: CLAI) , a leading provider of Internet-based business-to- business solutions for the healthcare industry, today reported its results for the first quarter of fiscal 2007, which ended March 31, 2007. For the quarter ended March 31, 2007, the Company reported revenues of $415,000, a 25% increase from the $331,000 reported for the first quarter of 2006. Expenses overall increased 25% compared with the first quarter of 2006. Cost of revenues for the first quarter of 2007 was $301,000 compared to $218,000 in the first quarter of 2006, a 38% increase. Selling, general and administrative expenses of $198,000 were reported for the first quarter of 2007, representing a 10% increase from the $180,000 reported in the first quarter of 2006. The Company reported a gross profit of $114,000 for the first quarter of 2007, compared with a $113,000 gross profit in the first quarter of 2006. This is the fifteenth consecutive quarter in which the Company has reported a gross profit. The loss from operations for the first quarter of 2007 was $(84,000), compared to a loss of $(67,000) reported in the first quarter of 2006. The net loss for the first quarter of 2007 was $(107,000), or $(.00) per share, compared to $(79,000), or $(.00) per share, in the first quarter of 2006. "While we are pleased with the 25% growth in sales, our loss from operations increased compared to last year. This primarily resulted from extra efforts that were expended to upgrade our ASP server operations, providing updated hardware and software, and increased capacity. Our expectation is that going forward we will benefit from this as our efforts in top line growth continue to pay off, and expenses again return to more normal levels," commented Don Crosbie, chief executive officer of Claimsnet. Claimsnet.com inc. is a leading provider of Internet-based claim processing solutions for the healthcare payer industry, including distinctive, advanced ASP technology. Headquartered in Dallas, Texas, Claimsnet offers systems that are distinguished by ease of use, customer care, security and measurable cost advantages. More information on Claimsnet can be found at the Company's web site at http://www.claimsnet.com/ . Forward-Looking Statements - With the exception of historical information, the matters discussed in this press release are forward looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to, maintaining access to external sources of capital, regulatory actions, success of marketing strategies, actions of the Company's competitors, dependence on suppliers and distribution channels, continued use of the Internet, achieving the anticipated benefits of capital expenditures, and achieving anticipated expense reductions. Further information on the Company's risk factors is contained in the Company's quarterly, annual, and other periodic reports as filed with the Securities and Exchange Commission. [Table to Follow] CLAIMSNET.COM INC. AND SUBSIDIARIES SUMMARY OPERATIONS STATEMENT INFORMATION (In thousands except per share data) (unaudited) Quarter Ended March 31, 2007 2006 REVENUES $415 $331 COST OF REVENUES $301 $218 GROSS PROFIT $114 $113 SELLING, GENERAL AND ADMINISTRATIVE $198 $180 LOSS FROM OPERATIONS $(84) $(67) INTEREST EXPENSE $(23) $(12) NET LOSS $(107) $(79) NET LOSS PER COMMON SHARE - BASIC $(0.00) $(0.00) WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC AND DILUTED 26,043 25,976 DATASOURCE: Claimsnet.com inc. CONTACT: Don Crosbie of Claimsnet.com inc., +1-972-458-1701, Ext. 112, or Web site: http://www.claimsnet.com/

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