eAuto Claims Announces $2.4M Losses, $27M Accumulated Deficit

November 1, 2005

eAuto Claims, an auto technology company based in Oldsmar, Fla. has announced it has lost $2.4 million, or 8 cents a share, on revenue of $14.7 million for the 2005 year end compared with a net loss of $2.2 million, or 9 cents per share, on revenue of $27.2 million for the same period last year.

eAutoclaims has never made a profit since being founded in 1996 and now has an accumulated deficit of more than $27 million.

This year’s loss was caused by the loss of a major customer, less revenue from the second largest customer and a longer startup time for a new co-marketing contract with ADP, the company said in a release.

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