CoolSavings increased its fourth-quarter 2002 revenue to $8.3 million, a $2 million increase over the same period in 2001. In addition, it reduced its net loss to $429,000, compared with $2.3 million for the prior year.
The online media company reported revenue of $26.4 million for the entire year, a 19% increase over the previous 12 months, and a reduction in net loss from $29 million in 2001 to $8.7 million in 2002.
The Chicago-based firm reduced expenses from $42.1 million to $30.3 million during the same period. In addition, the company registered nearly 7.6 million new customers in 2002, a 26% increase over 2001.
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