InsWeb Corp. (NASDAQ: INSW) today provided an interim update for the before part ending March 31, 2008. InsWeb's revenues for the initially put up of 2008 are expected to outshine $12 million, a 48% heighten over revenues of $8.1 million in the before all phase of 2007 and a 56% progressive burgeon over revenues of $7.7 million in the in a minute former quarter.
Net profit is expected to eclipse $650,000, an upgrading of more than 60% over oldest shelter 2007 net takings of $402,000 and exceeding the previous narrate for net income excluding one-time benefits of $464,000 in the third area of 2007. These figures refer to fourth point 2007 grating income of $1.34 million, which included a one-time improve related to a slacken in a lease loss accrual. The followers also upwardly revised its counsel for calendar 2008, stating that both revenues and after deductions income are expected to be inexpertly 25% higher than the $33 million in lace-work revenues and $1.4 million in reticle income (net of a one-time gain) achieved in appointment book 2007.
Hussein Enan, Chairman & CEO of InsWeb, commented, "While historically our beginning lodge is always strong, this year we benefited from the combining of a few immature marketing deals, better than expected go-between adoption of our AgentInsider program, and our expanded relation with NetQuote, as in days gone by reported." InsWeb expects to aver manifest financial results for the first ninety days of 2008 on Thursday, April 17, 2008. Conference title details to follow. About InsWeb InsWeb (NASDAQ: INSW) enables consumers to set side by side multiple, actionable quotes for auto, dub life, health, homeowners, renters and condominium protection offerings from many of the nation's tremendously rated insurers.
The top-rated online guarantee marketplace also provides interactive tools and uncontrolled research. Headquartered in Sacramento, Calif., InsWeb is approachable at. For further data anent InsWeb Corporation, gratify reading the Company's filings with the Securities and Exchange Commission, including Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, and in picky Management's Discussion and Analysis of Financial Condition and Results of Operations.
This announcement let go contains forward-looking statements reflecting management's popular prediction of assured aspects of the Company's future. It is based on mainstream information, which we have assessed, but which by its stamp is emphatic and thesis to speedy and even unceremonious changes. Forward-looking statements comprehend statements expressing the intent, credence or stream expectations of the Company and members of our running body regarding: projected future revenues, takings growth, expenses, profitability and pecuniary position; marketing and consumer acquisition; the results of vital initiatives, including AgentInsider; increased or decreased participation by indemnity companies; and produce and technological implementations. The Company's existing results might vary in the long run from those stated or implied by such forward-looking statements due to risks and uncertainties associated with the Company's business, which include, but are not circumscribed to: variations in consumer operation of the internet to peach on for and buy insurance; the willingness and faculty of insurance companies or other indemnification entities to offer their products or earnest quotes on the Company's website or through the Company's licensed subsidiaries; changes in the Company's relationships with existing surety companies or other customers, including, changes due to consolidation within the warranty industry; changes in the Company's relationship with critical and/or marketing partners; the Company's proficiency to appeal to and desegregate supplemental insurance providers and crucial partners; implementation of competing Internet strategies by existing and concealed competitors; implementation and consumer acceptance of budding offshoot or service offerings; the outgrowth of litigation in which the Company is a party; guaranty and financial services toil regulation; fluctuations in operating results; or other surprising factors.
The forward-looking statements should be considered in the ambiance of these and other jeopardy factors disclosed in the Company's filings with the Securities and Exchange Commission. "INSWEB" and "AGENTINSIDER" are registered usage marks of InsWeb Corporation. All marks above are those of InsWeb Corporation, omit for those of assurance insurers, brokers, agents, effort organizations, fiscal institutions, online partners, maintenance providers, other mentioned companies and academic institutions, which are the marks of their individual entities.
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