LookSmart, Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. Revenues for the first quarter of 2013 were $2.0 million, down 50.2% year-over-year, from revenue of $4.0 million in the first quarter of 2012, and down 52.4% sequentially, from revenues of $4.2 million in the fourth quarter of 2012. Net loss for the first quarter of 2013 was $1.5 million or $0.08 per diluted share.

This compares to a net loss for the first quarter of 2012 of $2.1 million or $0.12 per diluted share. Non-GAAP net loss for the first quarter of 2013 was $1.4 million compared to a non-GAAP net loss of $2.0 million in the first quarter of 2012. Loss from operations was $1.5 million against $2.2 million of prior year period.

There were no capital expenditures, including capitalization of internally developed software, in the first quarter of 2013, compared to $0.3 million in the first quarter of 2012, and $0.2 million in the fourth quarter of 2012. Net cash used in operating activities for the three months ended March 31, 2013 was approximately $2.2 million.