Loislaw.com Posts Revenue Gain, Net Loss

Loislaw.com Inc., the Van Buren online legal information company, announced Nov. 2 that its third-quarter revenue through Sept. 30 rose 97 percent over revenue for the same period in 1999. Gross profit margin also improved dramatically, from 39.9 percent a year ago to 55.9 percent this year.

Loislaw.com reported record revenue of $3.6 million for the quarter ended Sept. 30, 2000. New orders recorded (not counting renewals) totaled $1.7 million.

Total operating expenses increased only 2.4 percent to $7.3 million compared with the third quarter of 1999.

But the company reported a net loss for common stock of $3.7 million, or 17 cents per share, including a onetime charge of $268,000, or 1 cent per share, for severance pay in the resignation of Mark O. Beyland, former president and CFO.