This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

LookSmart Reports Third Quarter 2010 Results

-Achieves Net Income for Second Consecutive Quarter-

-Net Cash from Operating Activities Was $1.8 Million-

SAN FRANCISCO, Nov. 1, 2010 (GLOBE NEWSWIRE) -- LookSmart, Ltd. (Nasdaq:LOOK), an online search advertising network solutions company, today announced financial results for the third quarter ended September 30, 2010.

Revenues for the third quarter of 2010 were $11.3 million, compared to $12.5 million in the third quarter of 2009 and $13.0 million in the second quarter of 2010. Net income for the third quarter of 2010 was $0.7 million, or $0.04 per diluted share. This compares to a net loss for the third quarter of 2009 of $1.9 million, or ($0.11) per diluted share. Net income for the second quarter of 2010 was $0.7 million, or $0.04 per diluted share.

Income from continuing operations for the third quarter of 2010 was $0.6 million. This compares to a loss from continuing operations in the third quarter of 2009 of $2.1 million, which includes $0.3 million of severance expense and $0.1 million of expenses related to the evaluation of strategic growth alternatives. Income from continuing operations for the second quarter of 2010 was $0.6 million.

Commenting on the results, Dr. Jean-Yves Dexmier, Executive Chairman and Chief Executive Officer said, "Our third quarter results reflect the solid progress we have made in transforming our business this year. We continued to manage our traffic acquisition costs, and delivered net income for the second consecutive quarter. At the beginning of the quarter, we released an important upgrade to our platform that included real-time click quality scoring which allows further optimization of the traffic delivered to our advertisers in order to better meet their performance metrics. As anticipated, this upgrade had a negative impact on our overall revenues; however, customers have expressed satisfaction with the current results of our traffic quality initiative and this enables us to drive revenue without sacrificing traffic quality."

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs