CMSI Reports Third Quarter Results; Credit Online Revenues Increase 152% Over Prior Year
Credit Management Solutions, Inc. (CMSI), a provider of credit automation technology, services and software which enables business-to-business and business-to-consumer credit transactions, has reported third quarter results.
For the quarter ended Sept. 30, 2000, total revenue was $6.4 million vs. $5.3 million in the comparable period of 1999. Pretax loss for the third quarter of 2000 was ($0.1) million, or ($0.01) per share, compared to a pretax income of $0.1 million, or $0.01 per share in the third quarter of 1999.
Revenues for the nine months ended Sept. 30, 2000 were $18.3 million, compared to $17.5 million for the first nine months of 1999. Net loss for the nine months was ($0.9) million or ($0.12) per share compared to ($0.5) million or ($0.07) per share for the same period in 1999.
"Our financial performance this quarter reflects our continued efforts at returning the Company to profitability," said Scott L. Freiman, president and CEO. "Transactions and associated revenues continue to build for our Credit Online subsidiary. In addition, Credit Online contracted two new lenders and three new Internet sites during the third quarter."
For more information on CMSI, visit http://www.cmsinc.com.
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