Local.com Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported revenue of $15.1 million against $10.1 million last year. Operating loss was $194,000 against $1.7 million last year. Loss before income taxes was $212,000 against $1.7 million last year. Net loss was $212,000 or $0.01 per basic and diluted share against $1.7 million or $0.12 per basic and diluted share last year. Basic and diluted net stock-based compensation expense per share was $0.04 against $0.04 last year. Adjusted net income was $1.3 million or $0.09 per diluted share against adjusted net loss of $766,000 or $0.05 per diluted share last year. For the nine months, the company reported revenue of $39.9 million against $28.6 million last year. Operating loss was $3.3 million against $6.6 million last year. Loss before income taxes was $3.4 million against $6.3 million last year. Net loss was $3.4 million or $0.24 per basic and diluted share against $6.3 million or $0.45 per basic and diluted share last year. Basic and diluted net stock-based compensation expense per share was $0.12 against $0.13 last year. Net cash provided by operating activities was $669,000 against net cash used in operating activities of $3.6 million last year. Capital expenditures were $1.2 million against $315,000 last year. Investments on purchases of intangible assets were $4.2 million. The company expects fourth quarter of 2009 revenue to be between $15.3 million and $15.6 million, which at the midpoint would represent a 2% sequential increase over the third quarter of 2009. The company expects net loss for the fourth quarter of 2009 to be between $100,000 and $0 or between $0.01 and $0.00 per share, and to include depreciation and amortization of approximately $900,000 and stock based compensation charges of approximately $600,000. Excluding the items from net income, adjusted net income is expected to be between $1.4 million and $1.5 million or between $0.09 per diluted share and $0.10 per diluted share for the fourth quarter of 2009. The net loss per share forecast assumes a weighted average share count of 14.4 million. The adjusted net income per share assumes a diluted weighted average share count of 14.9 million, taking into account the dilutive effect of stock options and warrants. The fourth quarter is seasonally the weakest quarter, yet the outlook is for continued growth through the end of the year, positioning for approximately 45% year over year revenue growth. The company expects full year of 2009 revenue to be between $55.2 million and $55.5 million, which at the midpoint represents a 45% sequential increase over the year 2008. The company expects net loss to be between $3.5 million and $3.4 million or $0.24 per share, and to include the following items: depreciation and amortization of approximately $3.2 million, stock based compensation charges of approximately $2.3 million and non-recurring items of $521,000. Excluding the items from net income, adjusted net income is expected to be between $2.5 million and $2.6 million or between $0.17 per diluted share and $0.18 per diluted share for fiscal year 2009. The net loss per share forecast assumes a weighted average share count of 14.4 million. The adjusted net income per share assumes a diluted weighted average share count of 14.7 million, taking into account the dilutive effect of stock options and warrants.

Local.com Corp. expected to Report Fiscal Year 2009 Results on February 15, 2010. This event was calculated by Capital IQ (Created on October 27, 2009).

Local.com Corp., Q3 2009 Earnings Call, Oct 27 2009