HomeSeekers.com Inc. (OTC Bulletin Board: HMSK), d/b/a Realigent Inc., announced its second straight quarterly profit. Net earnings for the quarter ending September 30, 2002, were $884 thousand compared to a net loss of $6.1 million for the same period in 2001. In the first nine months of the year the company posted a net profit of $2.8 million compared to a net loss of $41.5 million while significantly reducing its liabilities.

The company generated net income from operations totaling a record $584 thousand during the quarter ended September 30, 2002. Similarly, earnings before interest, taxes, depreciation, and amortization ("EBITDA") of just under $1.1 million recognized during the nine-months ended September 30, 2002, set another record for the company.

"We are pleased to announce a steady increase in revenue over each of the past three quarters," commented CEO Thomas Chaffee. "We continue to focus on executing the business plan while reducing costs and driving sales in an increasingly challenging macroeconomic environment."

Published: November 5, 2002

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