Local Corporation (NASDAQ: LOCM), a leading online local media company, today reiterated its expectations for the third quarter 2012 ending Sept. 30, 2012.
In line with the company's previous guidance, Local Corporation expects third quarter 2012 revenue to be approximately $24.5 million, an increase of over 18% compared to the year ago period. While GAAP net income (loss) cannot be calculated at this time, Adjusted Net Income for the third quarter 2012 is expected to be approximately breakeven, or $0.00 per diluted share, assuming diluted weighted average shares of 22.5 million.
Adjusted Net Income (Loss) is defined as net income (loss) excluding: provision for income taxes; interest and other income (expense), net; depreciation; amortization; stock-based compensation charges; gain or loss on warrant revaluation; net income (loss) from discontinued operations; impairment charges and non-recurring items.
Projected third quarter 2012 Adjusted Net Income (Loss) Factors:
- Interest Expense of $100,000
- Tax Provision Expense of $50,000
- Depreciation Expense of $1.0 million
- Amortization Expense of $800,000
- Stock Compensation Expense of $1.0 million
- Net Loss from Rovion assets held for sale of $300,000
- Warrant Revaluation Expense and Other Non-Recurring items are undeterminable*
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV