ESOL provides employee payroll, human resources, benefits outsourcing services, retirement and health care programs, and compensation services. Revenues reflect growth from internal sales and acquisitions.
Net loss reflects competitive factors and lower margins on new business.
We are on track in our efforts to achieve our long term strategic objectives. Higher loss reflects an increase in cost of scanning and management fees. The full amount of the award was recognized for financial statement purposes in fiscal 1997. The Company also has commenced and settled similar patent infringement suits against other major competitors. The company has two promising technologies that are expected to be ready by the end of October 1998, and expects about 3 months for FDA approval.