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LookSmart Reports Fourth Quarter And Full Year 2010 Results

Conference Call

LookSmart will host a conference call today at 5:00 p.m. ET to discuss its fourth quarter 2010 financial results. Participating on the call will be Dr. Jean-Yves Dexmier, Executive Chairman and Chief Executive Officer and Bill O'Kelly, Senior Vice President Operations and Chief Financial Officer. To listen to the call from the US, dial 1-877-407-0789; from outside the US, dial 1-201-689-8562. A telephonic replay of the call will be available until Tuesday, February 22, 2011, 11:59 pm ET. To access the replay from the US, dial 1-877-870-5176and enter passcode 365851; from outside the US, dial 1-858-384-5517 and enter passcode 365851. The call will also be available live by webcast on LookSmart's Investor Relations website at

About LookSmart, Ltd.

LookSmart is an online search advertising network solutions company that provides performance solutions for online search advertisers and online publishers. LookSmart offers advertisers targeted, pay-per-click (PPC) search advertising and contextual search advertising via its Advertiser Networks; and an Ad Center platform for customizable private-label advertiser solutions for online publishers. LookSmart is based in San Francisco, California. For more information, visit or call 415-348-7500.

The LookSmart, Ltd. logo is available at

GAAP to Non-GAAP Reconciliation

We provide a reconciliation of GAAP net income (loss) to non-GAAP net income (loss) below:
GAAP to Non-GAAP Reconciliation      
  Three Months Ended
(000's) December 31, 2010 (unaudited) September 30, 2010 (unaudited) December 31, 2009 (unaudited)
GAAP Net income (loss)  $ 122  $ 718  $ (935)
Add: Stock based compensation from continuing operations  125  222  226
Subtract: Income from discontinued operations  (91)  (89)  (93)
Add: Impairment charges  --   --   100
Non-GAAP net income (loss)  $ 156  $ 851  $ (702)
  Year Ended December 31,  
(000's) 2010 2009  
GAAP Net income (loss)  $ 975  $ (6,202)  
Add: Stock based compensation from continuing operations  679  1,617  
Subtract: Income from discontinued operations  (358)  (464)  
Add: Impairment charges  --   280  
Non-GAAP net income (loss)  $ 1,296  $ (4,769)  

Use of Non-GAAP Measures

Regulation G, "Conditions for Use of Non-GAAP Financial Measures," and other provisions of the Securities Exchange Act of 1934, as amended, define and prescribe the conditions for use of certain non-GAAP financial information. LookSmart provides "non-GAAP net income (loss)," which is a non-GAAP financial measure. Non-GAAP net income (loss) consists of net income (loss) before (a) income from discontinued operations; (b) share-based compensation expense; and (c) impairment charges.

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