LookSmart Trims Losses

Share this content:
Pay-per-click lead-generation search engine LookSmart yesterday reported a net loss of $59.6 million or 65 cents per share for the full year 2001. This is a slight improvement over 2000 for which LookSmart reported a net loss of $62.6 million or 70 cents per share.

LookSmart also reported net loss of just over $11 million or 12 cents per share for the fourth quarter of 2001, compared to a net loss of $23 million or 25 cents per share for the same quarter a year ago.

The San Francisco company reported that fourth quarter 2001 revenue was $19.5 million, up 7 percent from $18.3 million in the third quarter. LookSmart reported that revenue for the full year 2001, however, was $85 million, down from $112.6 million in 2000.

LookSmart also reported that paid clicks increased 23 percent quarter to quarter. Total paid clicks for the quarter reached 63 million versus 51 million in the third quarter 2001, according to LookSmart.

LookSmart executives claimed in a statement that the firm beat analysts' expectations.

"We are very pleased to report better than expected revenues and EBITDA [earnings before interest, tax, depreciation and amortization] profitability for the quarter," said Dianne Dubois, chief financial officer for LookSmart in a press release. "With the continued solid growth in listings revenue and increase in paid clicks, LookSmart achieved its first ever profitable quarter on an EBITDA and cash operating basis. We finished the year in a strong cash position with an improved balance sheet and are confident about the growth potential that lies ahead."


Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above