Total operating expenses increased to $3.42 million and $6.46 million for the quarter and six months ended Sept. 30, 2000, respectively, compared to $1.3 million and $3.0 million for the same periods of the prior year.
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These increases reflect continued expenses associated with the development of Internet applications and increased costs related to higher sales from its traditional wholesale operations.
Company President, Roger L. Butterwick said, “We continue to meet or exceed management expectations with our Internet programs as well as our traditional wholesale operations. Our Internet revenue increased in the second quarter of our fiscal year ended March 31, 2001, by over 130% when compared to Internet revenue reported for the first quarter of this year.
“We look forward to continued increases in Internet revenue as we expand our client base, increase volume and contract our Internet remarketing service with industry third party providers.”
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