LookSmart Q3 loss widens; to sell FindArticles.com for $20.5 mln

Wed Nov 7, 2007 4:53pm EST

Nov 7 (Reuters) - LookSmart Ltd (LOOK.O), an online media and technology company, reported a wider-than-expected quarterly loss, hurt by continued volatility in ad spend among its larger volume advertisers, and impairment charges.

The company also said it will sell its FindArticles.com property to CNET Networks Inc (CNET.O) for about $20.5 million in cash.

LookSmart posted a third-quarter loss of 19 cents a share, on revenue of $12.6 million. This compares with a loss of 17 cents per share on revenue of $12.2 million. Analysts were looking for a loss of 12 cents per share on revenue of $13.4 million. (Reporting by Sreerupa Mitra in Bangalore; Editing by Gopakumar Warrier)

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