LookSmart, Ltd. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company's revenue was reduced 20.7% to $4,189,000 against $5,284,000 a year ago. Loss from operations was $3,891,000 against $1,845,000 a year ago. Loss from operations before income taxes was $3,878,000 against $1,843,000 a year ago. Net loss was $3,884,000 or $0.23 per basic and diluted share against $1,843,000 or $0.11 per basic and diluted share a year ago. Non-GAAP net loss was $1,514,000 against $1,744,000 a year ago. Capital expenditures, including capitalization of internally developed software were $0.2 million, compared to $0.3 million in the fourth quarter of 2011, and $0.4 million in the third quarter of 2012. Net cash used in operating activities was approximately $3.7 million.

For the year, the company's revenue was reduced 43% to $15,691,000 against $27,634,000 a year ago. Loss from operations was $11,086,000 against $2,836,000 a year ago. Loss from operations before income taxes was $11,041,000 against $2,505,000 a year ago. Net loss was $11,047,000 or $0.64 per basic and diluted share against $2,508,000 or $0.15 per basic and diluted share a year ago. Non-GAAP net loss was $8,348,000 against $1,257,000 a year ago.