LookSmart Trims Losses

Share this article:
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."


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

IAB Tech Lab to Set Global Digital Marketing Standards

IAB Tech Lab to Set Global Digital Marketing ...

In looking to solve complex tech issues, the association opens up full membership to agencies and solutions providers.

Integration Meets Innovation in Planters' Digital Campaign

Integration Meets Innovation in Planters' Digital Campaign

The snacks brand found a healthy way to navigate today's world of digital marketing saturation.

USA Today Decides to Play Games for Real

USA Today Decides to Play Games for Real

It partners with game-maker Arkadium to add 60 new digital games to its site, offering advertisers more segmented breakdowns of players.