InsWeb Corp. (INSW:NASDAQ)

InsWeb Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported revenues of $8.9 million, an increase of 12% as compared to $8.0 million in the second quarter of 2009, and a decrease of approximately 1% as compared to $9.0 million in the third quarter of 2008. Net loss for the third quarter of 2009 was $870,000, or $0.18 per diluted share. This compares with a net loss of $595,000, or $0.12 per diluted share, in the second quarter of 2009, and a net loss of $552,000, or $0.12 per diluted share, in the third quarter of 2008. Loss from operations was $873,000 and loss before income taxes was $870,000 against loss from operations of $643,000 and loss before income taxes of $596,000 for the same period a year earlier. Adjusted EBITDA, a non-GAAP financial measure used by InsWeb's management was income of $191,000 in the third quarter of 2009, as compared to a loss of $471,000 in the second quarter of 2009 and to a loss of $432,000 in the third quarter of 2008. For the nine months, the company reported revenues of $26,458,000 compared to $30,851,000 in the third quarter of 2008. Net loss was $1,966,000 or $0.41 per diluted share against net loss of $859,000 or $0.18 per diluted share for the same period a year earlier. Loss from operations was $1,989,000 and loss before income taxes was $1,966,000 against loss from operations of $1,099,000 and loss before income taxes of $903,000 for the same period a year earlier.

InsWeb Corp. said it has reduced its staff by 30%. The company announced that it has cut its work force back down to what it was two years ago. The company will end the third quarter with 61 workers, down 30% from the 87 people it employed in the second quarter. Most of the layoffs are in the area of technology.

InsWeb Corp. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss of $595,000 or $0.12 diluted per share on total revenues of $7.98 million against $977,000 or $0.21 diluted per share on total revenues of $8.8 million a year ago. Loss from operations was $566,000 against $1.05 million a year ago. Loss before income taxes was $560,000 against $986,000 a year ago. Adjusted EBITDA from continuing operations was $473,000 against $518,000 a year ago. For the six months, the company reported net loss of $1.1 million or $0.23 diluted per share on total revenues of $17.5 million against $307,000 or $0.07 diluted per share on total revenues of $21.84 million a year ago. Loss from operations was $1.11 million against $456,000 a year ago. Loss before income taxes was $1.1 million against $307,000 a year ago.