Insure.com recently announced financial results for the third quarter ended September 30, 2007. Revenues increased 23% compared to the same period last year and net profit increased to $544,000, or $0.07 per share, which is significantly higher than the loss of $0.28 per share last year. This is the first time in the company’s history that net profit exceeded $5,000,000.

Robert Bland, Chairman and CEO of the Company, stated, “Solid year-over-year revenue growth combined with reduced expenses resulted in an excellent quarter. Our new business pipeline remains robust as third quarter life insurance application requests were up 32 percent over the same period in 2006. Going forward, we intend to focus on refining and improving our in-house telephone sales center and order processing units, which are not yet operating at peak efficiency. Insure.com is well-positioned to service the emerging self-directed insurance shopper and we are very excited about the future of the online insurance sector.”

Chief financial officer Phil Perillo commented, “Third quarter operations expenses of $2 million were up $671,000 from the same quarter of 2006 due primarily to higher personnel costs related to having more selling agents and support staff to process the increased level of business. On a sequential basis, operations expenses declined $629,000 as compared to the second quarter of 2007 due to reduced sales agent headcounts and information technology consultant costs. We expect operations costs to be higher in the fourth quarter which, coupled with the expected decline in commission revenue mentioned below, means that we do not expect to achieve the level of net profit that we earned in the third quarter.”

Let us hear your thoughts below: