Local Corporation revised earnings guidance for the fourth quarter and year ended December 31, 2014 and provides earnings guidance for the year 2015. For the quarter, the company's revenue is expected to be between $16.0 million and $16.5 million, below guidance given on November 12, 2014 of $20 million to $23 million. Net loss is anticipated to be in the range of breakeven to $200,000 and adjusted EBITDA in the range of $100,000 to $300,000. Adjusted EBITDA per diluted share is expected to be in the range of $0.00 to $0.01.

For the year 2014, the company's revenue is expected to be between $82.8 million and $83.3 million, compared with prior guidance of $87 million to $90 million. Net loss is expected to be in the range of $5.5 million to $5.7 million. Adjusted EBITDA is expected to be in the range of $2.2 million to $2.4 million, in line with previous guidance of $2.0 million to $2.4 million. Adjusted EBITDA per diluted share is expected to be in the range of $0.09 to $0.10.

For the year 2015, the company's revenue is expected to be in the range of $82 million to $86 million. Adjusted EBITDA is expected to be in the range of $3 million to $4 million, or between $0.13 per diluted share and $0.17 per diluted share, assuming diluted weighted average shares of 24 million and taking into account the dilutive effect of stock options and warrants. Projected 2015 adjusted EBITDA factors: Interest expense of $1.1 million, income tax provision of $100,000, depreciation expense of $4.5 million, amortization expense of $150,000, stock compensation expense of $600,000 and warrant and conversion option revaluation expense items are undeterminable, but may be significant non-cash gains or losses.