LION Reports '02 Loss

LION Inc., Seattle, has reported a net loss of $109,000 for 2002, compared with net income of $42,000 in 2001.For the fourth quarter, net income totaled $141,000, compared with a net loss of $28,000 a year earlier. Revenue for the year totaled $6.4 million, up 7% from $6.0 million in 2001. The company, a provider of online services that connect brokers to consumers and lenders, attributed the net loss in 2002 to settlement charges and legal fees of approximately $647,000 related to litigation that was settled in July. "Excluding settlement charges and related legal expenses during both 2002 and 2001, net income would have remained unchanged at $141,000 for the fourth quarter and approximately $538,000 for all of 2002, up from net income of $28,000 and $125,000, respectively, for the same periods in 2001," the company said. LION can be found online at http://www.lioninc.com.