LookSmart, Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
April 01, 2013 at 04:05 pm EDT
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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.
LookSmart Group, Inc. operates in a programmatic online advertising ecosystem serving ads that target user queries on partner sites. The Company handles programmatic media buying on both Tier1 (Facebook, Google, Bing and Yahoo) and Tier2 channels (any other site beyond Google, Bing, Facebook and Yahoo). The Company offers search advertising customers targeted search via a monitored search advertising distribution network using its AdCenter platform technology. Its search advertising network includes publishers and search advertising customers, including intermediaries and direct advertising customers and their agencies, as well as self-service customers in the United States and certain other countries. In addition, Looksmart, under its Clickable and Syncapse brands, allows customers to manage paid, owned and earned media by providing a suite of solutions for social media marketers that include publishing, monitoring, data storage, compliance, management, ad placement and analytics.