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Perion Network's CEO Discusses Q3 2011 Results - Q&A Session Transcript

Nick Halen – Sidoti & Company

$6 million to $7 million. Okay, all right. Great, thank you guys.

Operator

The next question is from Christopher Ferris of Noble Financial. Please go ahead.

Christopher L. Ferris – Noble Financial Group, Inc.

Hi guys. Thank you for taking the question. You touched a little bit on the lower search in the quarter, and I was wondering is that kind of a number we should expect to see going forward over the next couple of quarters down mid single digits number or is that a one-time item in the quarter? And then, I think next question you kind of touch on this, but I was just curious about the customer acquisition cost and if you could drill down a little bit more there and is that sort of the run rate we should expect going forward for the next couple of quarters?

Josef Mandelbaum

Sure. Nice to have you on the phone call, Chris.

Christopher L. Ferris – Noble Financial Group, Inc.

Yeah. Thank you.

Josef Mandelbaum

I’ll answer the first one in order. So, the answer is that as we looked at the business of the searches to date, we believe it was a one-time issue as we adjusted it to a) Google’s changes. I think if you look at a lot of comps out there, there are a lot of companies that had a little bit of a dip as you have to kind of readjust to the new terms of service. We’re already seeing, we’re in the middle of Q4, so we are already seeing the uptick. So we don’t expect, we expect Q4 to be much stronger than Q3. We think it’s one-time, and the bug from one of our partners, it happens sometimes. There was bug in one of our partners we had and now it caused us some issues and we think we had passed it. So we think going forward, we shouldn't see a decrease in our single-digits on a going forward basis, that’s number one.

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