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InsWeb Reports Q2 2009 Results

Revenues for the second quarter of 2009 were $8 million, a decrease of 16%

InsWeb Corporation, an online insurance portal in the US, has announced results for the second quarter ended June 30, 2009.

Revenues for the second quarter of 2009 were $8 million, a decrease of approximately 16% as compared to $9.5 million in the first quarter of 2009, and a decrease of approximately 9% as compared to $8.8 million in the second quarter of 2008.

Net loss for the second quarter of 2009 was $595,000, or $0.12 per diluted share. This compares with a net loss of $501,000, or $0.10 per diluted share, in the first quarter of 2009, and a net loss of $977,000, or $0.21 per diluted share, in the second quarter of 2008.

Adjusted EBITDA, a non-GAAP financial measure used by InsWeb’s management, was a loss of $473,000 in the second quarter of 2009, as compared to a loss of $401,000 in the first quarter of 2009.