Local.com Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported revenue of $25,507,000 against $20,045,000 a year ago. Operating loss was $3,784,000 against operating income of $161,000 a year ago. Loss before income taxes was $3,735,000 against $924,000 a year ago. Net loss was $3,806,000 or $0.17 per diluted share against $891,000 or $0.05 per diluted share a year ago. Adjusted net income was $412,000 or $0.02 per diluted share against $3,154,000 or $0.19 per diluted share a year ago. For the full year, the company reported revenue of $78,763,000 against $84,137,000 a year ago. Operating loss was $16,598,000 against operating income of $3,712,000 a year ago. Loss before income taxes was $14,378,000 against income before income taxes of $4,324,000 a year ago. Net loss was $14,559,000 or $0.68 per diluted share against net income of $4,222,000 or $0.25 per diluted share a year ago. Net cash used in operating activities was $748,000 against net cash provided by operating activities of $8,307,000 a year ago. Capital expenditures were $4,361,000 against $6,267,000 a year ago. Adjusted net loss was $2,577,000 or $0.12 per diluted share against adjusted net income of $13,775,000 or $0.82 per diluted share a year ago. The company expects first quarter 2012 revenue to be approximately $25.0 million. Adjusted net loss first quarter 2012 is expected to be approximately $200,000, or $0.01 per diluted share, assuming diluted weighted average shares of 22.1 million. Projected first quarter 2012 adjusted net income factors include: depreciation expense of $900,000; amortization expense of $1.2 million; and interest expense of $100,000. The company expects revenue to be approximately $110 million for 2012. Adjusted net income for 2012 is expected to be approximately $1.1 million, or $0.05 per diluted share, assuming diluted weighted average shares of 23.0 million, taking into account the dilutive effect of stock options and warrants. Projected 2012 adjusted net income factors include: depreciation expense of $3.9 million; amortization Expense of $3.5 million; and interest expense of $400,000.