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Insweb Corp (PRZM) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2007

Prism Technologies Group, Inc.

CIK: 1077370 Ticker: PRZM

 

Exhibit 99.1

 

GRAPHIC

 

News Release

 

Investor Relations Contact:

Molly Plyler

The Blueshirt Group

415-217-7722

molly@blueshirtgroup.com

 

InsWeb Reports Record Fiscal 2007 Financial Results and First Year of Profitability

 

·                  2007 Total Revenues of $33.2 Million; 2007 Net Income of $2.4 Million

 

·                  Reminder: Conference Call and Webcast today at 5:00 pm ET; Dial-In:  (800) 218-4007

 

SACRAMENTO, Calif., January 24, 2008

— InsWeb Corp. (NASDAQ: INSW), a leading online insurance marketplace, today announced results for the fourth quarter and year ended December 31, 2007.

 

Revenues for the fourth quarter of 2007 were $7.7 million, an increase of approximately 33% as compared to $5.8 million in the fourth quarter of 2006.  Net income for the fourth quarter of 2007 was $1.3 million, or $0.23 per diluted share, which includes a one-time benefit of $985,000 related to a decrease in a lease loss accrual, compared to a net loss in the fourth quarter of 2006 of $0.3 million, or $0.08 per diluted share. The decrease in lease loss accrual relates to properties formerly used as the company’s headquarters, which are subleased through September 2008.

 

Revenues for fiscal 2007 were a record $33.2 million, an increase of approximately 16% over the $28.5 million for fiscal 2006.  Net income for fiscal 2007 was a record $2.4 million, or $0.46 per diluted share.  This compares with a net loss of $3.4 million, or $0.82 per diluted share, for fiscal 2006.

 


The following information was filed by Prism Technologies Group, Inc. (PRZM) on Monday, January 28, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
Ticker: PRZM
CIK: 1077370
Form Type: 10-K Annual Report
Accession Number: 0001104659-08-021341
Submitted to the SEC: Mon Mar 31 2008 5:25:46 PM EST
Accepted by the SEC: Mon Mar 31 2008
Period: Monday, December 31, 2007
Industry: Business Services

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