This sucks, wonder what he is smoking
CMSI Reports Third Quarter Results
COLUMBIA, Md., Nov. 4 /PRNewswire/ -- Credit Management Solutions, Inc.
(CMSI) (Nasdaq: CMSS), a service bureau provider for various credit
transactions and a developer and provider of software for automating the
consumer and small business credit analysis, decision-making and funding
process, today reported third quarter results.
For the quarter ended September 30, 1998, total revenue was $4.2 million
vs. $4.4 million in the comparable period of 1997. Pretax loss for the third
quarter of 1998 was ($1.8) million, or ($0.24) per share, compared to a pretax
loss of ($0.8) million, or ($0.10) per share in the third quarter of 1997.
Revenues for the nine months ended September 30, 1998 were $11.6 million,
compared to $11.7 million for the first nine months of 1997. Net loss for the
nine months was ($5.7) million, or ($0.75) per share compared to ($2.4)
million, or ($.31) per share for the same period in 1997.
James R. DeFrancesco, Chairman and CEO said, "This has been an exciting
quarter for CMSI. After a slow start this year, CreditRevue sales for the
third quarter rebounded with seven deals representing a minimum contract value
of approximately $6 million. Among these contracts are several prestigious
firms including, AT&T, Star Bank, M&I Data Services and Student Loan Finance
Corporation. Additionally, we announced the appointment of Peter M. Leger as
President and COO. We recently launched our CreditConnection website,
www.creditconnection.com, which positions us to facilitate a more rapid
enrollment and deployment model for the CreditConnection service." |
