Key Developments For Local.com Corporation
Local.com Corporation (LOCM.O) (Consolidated Issue listed on NASDAQ Capital Market)
Local.com Corp. Creates Three Business Units;
Local.com Corp. announced that it is organizing around three business units Owned & Operated (O&O), Network and Sales & Advertiser Services (SAS). O&O, Responsible for growing all Local.com owned and operated properties, which are today represented by the Company`s www.local.com property. Network, responsible for the development and management of Local.com`s network products, which consist of the Company`s Local Syndication Network of over 700 regional media sites, and the newly released Local Distribution Network. SAS, responsible for general advertising sales and support, key ad partner relationships and the development of new advertiser products.
Local.com Corp. Issues Q4, FY 2009 Outlook; Revenue Outlook Above Analysts' Estimates
Local.com Corp. announced that for the fourth quarter of 2009, it expects revenues to be between $15.3 and $15.6 million, net loss to be between $0.1 million and breakeven or between ($0.01) and breakeven per share and adjusted net income to be between $1.4 and $1.5 million or between $0.09 and $0.10 per diluted share. For fiscal 2009, the Company expects revenue to be between $55.2 and $55.5 million, net loss to be between $3.5 and $3.4 million or ($0.24) per share and adjusted net income to be between $2.5 and $2.6 million or between $0.17 and $0.18 per diluted share. According to Reuters Estimates, analysts on an average were expecting the Company to report GAAP loss per share of $0.01 on revenue of $15.0 million for the fourth quarter of 2009; GAAP loss per share of $0.24 on revenue of $54.5 million for fiscal 2009.
Local.com Corp. Receives Patent For Enhanced Directory Assistance Services
Local.com Corp. announced that the Company has been awarded patent number 7,596,218 by the U.S. Patent and Trademark Office, which covers a system and method for Enhanced Directory Assistance (EDA) Services. Issued on September 29, 2009, the patent describes a system and method for maintaining a dynamic index for a telephone directory assistance system.
Local.com Corp. Raises Q3 2009 Outlook
Local.com Corp. raised its third quarter of 2009 outlook and expects revenue to be between $14.8-$15.1 million, exceeding the high end of its prior outlook of $14.6 million. It also expects adjusted net income to be between $1.3-$1.4 million or approximately $0.09 per diluted share, which meets or exceeds the high end of its prior outlook of $1.3 million, or $0.09 per diluted share for third quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $14.4 million for the same period.
Local.com Corp. Issues Q3 2009 Guidance; Revenue And Net Income Guidance Above Analysts' Estimates
Local.com Corp. announced that for third quarter of 2009, it expects revenue to be in the range of $14.1-$14.6 million, net loss to be in the range of $0.4-$0.1 million or between ($0.03)-($0.01) per share (EPS) and to include depreciation and amortization of $900,000 and stock based compensation charges of $500,000. Excluding the charges net loss, adjusted net income is expected to be in the range of $1.0-$1.3 million or $0.07-$0.09 per diluted share for the third quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $13.4 million, GAAP net profit of $(0.45) million and GAAP EPS of $(0.03) for the same period.
