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  • flankenking flankenking Aug 14, 2013 3:57 AM Flag

    Most undervalued Nasdaq Share

    Key Takeaways from Q2’13 of Local Corp with idiotic low 38 million market-cap

    • Increase 2013 guidance:
    » Revenue between $95 million and $97 million
    » Adjusted EBITDA of at least $5.4 million

    • Sequential revenue growth up 6% to $22.7 million in Q2 from $21.5 million in Q1

    • Adjusted EBITDA up 72% to $1.2M in Q2 from $685K in Q1

    • Record Mobile traffic was 34 million MUVS for Q2

    • Sold Spreebird daily deals business, expect $600K annualized improvement in earnings and cash flow

    • Continued expansion of our highest gross margin business – Network ex TAC up 118% from Q2 2012

    • Completed a $5 million convertible note financing in April 2013

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • We believe Local's different business segments--briefly introduced above, but discussed in further detail below--are poised to gain from this clear growth trend in online commerce and mobile communications

      Similarly, the E-commerce market is continuing to grow at a rapid pace (~10% per year) with total U.S. sales expected to reach $370 billion by 2017 up from $231 billion in 2012 (see Exhibit 2). We believe this market growth stems from a growing tech-savvy consumer base (that is willing to make online purchases) and by the surging popularity of mobile devices such as smartphones and tablets that provide consumers with the ability to browse virtual storefronts at their leisure.

      Source: Merriman Capital

    • Ray Dirks Research: Local Corporation(LOCM) Trades At An Absurdly Low Multiple To Overvalued Peers… July 24, 2013 by Ray Dirks

      Posted on admin on July 24, 2013 // Leave Your Comment

      Local Corporation (LOCM) is a company not afraid of making promises to shareholders because management consistently achieves its performance goals. The first quarter delivered a nice gain on gross margins in its largest revenue stream – websites it owns and operates – that gave the bottom line a $0.07 boost and swung the company to a net earnings profit. These margins will keep expanding as Local creates more ways to lower its costs of acquiring consumer traffic to the websites it controls with new marketing tools. Also in the first quarter, Local’s network of over 1,200 other websites that rely on the search results it provides produced revenue growth of a stunning 96% as the number of sites continues to go up almost 10% quarter to quarter.

    • Local Corp will provide location-based local product search results for web searches through Bing. Local Corp's new deal will also integrate search results using the company's Krillion platform. Krillion offers unique searching, connecting customers and retailers with actual products in stock, using patented technology. Local Corp paid $3.5 million to acquire Krillion back in 2011.

      According to Searchenginejournal, the following retailers participate in Krillion technology:

      · Best Buy (BBY), Costco (COST), Express (EXPR), Fry's, Home Depot (HD), K-Mart (SHLD), Lowe's (LOW), Nordstrom (JWN), Orchard Supply (OSHWQ.PK), Office Depot (OD), Radio Shack (RSH), Rite Aid (RAD), Sears (SHLD), Staples (SPLS), Target (TGT), True Value, Wal-Mart (WMT).

      • 1 Reply to flankenking
      • Local Corporation Launches Next Generation of its Krillion Local Shopping Platform
        .

        Company Expands Data Aggregation Capabilities; Offers Location-Based Product API Covering Over 75,000 Retail Stores and 23,000 Brands

        IRVINE, Calif.--(BUSINESS WIRE)--

        Local Corporation (LOCM), a leading online local media company, today announced that it has launched the next generation of its Krillion local shopping platform, which provides dynamic location-based product search data for millions of local consumers nationwide.

        The Krillion local shopping data index, one of the largest and most comprehensive in the industry, now includes over 75,000 retail stores, covering over 3,000 shopping categories and over 23,000 leading consumer brands, representing millions of products. The platform also includes a new API, providing business partners and customers with an efficient way to integrate local shopping solutions and content into desktop and mobile sites and applications.

    • Monetization is a big challenge in mobile, and we believe pay per call is a natural solution.
      Local Corp has five pay per call patents.

    • Local has grown revenue by a compound annual rate of 26% since 2008, reaching $97.7 million in 2012. Operating expenses in the most recent quarter have been drastically reduced and its bottom line is one penny away from breakeven.

      Source: Seaking Alpha - Markman Hearing Could Open The Door To Future Revenue Streams For Local

    • I believe, you should hurry with your buy.

    • Growth Strategy (Source: Newest Presentation)
      .

      • Grow margins in O&O business (largest revenue stream)
      - Margin optimization via new SEM tools
      - Gradually ramping in the UK

      • Grow revenues in Network (highest gross margin revenues)
      - Expand number of sites via business development team (more traffic)
      - New products planned including world-class local shopping channel
      - Optimize monetization leveraging new testing platform

      • Developing opportunities
      - Local display network – leveraging our existing Network
      - Microsites (insurance,HVAC, alarm systems and more) – leveraging our platform
      - Improved monetization vialead generation – monetization improvements
      - Mobile – leveraging our platform

    • The both biggest owner increased their ownership in the second quarter of 2013 95,24% and 28,32%
      .

      Owner Name
      Date
      Shared Held
      Change (Shares)
      Change(%)
      Value(in 1,000s)

      GOLDMAN CAPITAL MANAGEMENT INC
      06/30/2013
      2,269,500
      1,107,102
      95.24
      3,790


      VANGUARD GROUP INC
      06/30/2013
      448,274
      98,927
      28.32
      749

    • Growth Strategy (Source: Newest Presentation)
      .
      • Grow margins in O&O business (largest revenue stream)
      - Margin optimization via new SEM tools
      - Gradually ramping in the UK

      • Grow revenues in Network (highest gross margin revenues)
      - Expand number of sites via business development team (more traffic)
      - New products planned including world-class local shopping channel
      - Optimize monetization leveraging new testing platform

      • Developing opportunities
      - Local display network – leveraging our existing Network
      - Microsites (insurance,HVAC, alarm systems and more) – leveraging our platform
      - Improved monetization vialead generation – monetization improvements
      - Mobile – leveraging our platform

    • Big success in the network-division: First, the Network; we raised $5 million in April to expand our network business, and we believe the investment is paying off. Network revenues ex-TAC were up 17% sequentially, and up nearly 120% from a year ago period. This increase was directly attributable to an increase in a number of sites, from over 1,200 in Q1, to nearly 1,600 in Q2. We spent years developing our network business, and we believe that it's a highly scalable business with unique products and growth prospects, and that it has great operating leverage. We plan to grow our network by adding more sites, and adding more proprietary content into those sites.

      • 1 Reply to flankenking
      • Network-Revenus (GAAP) and Network Revenus (Ex Tac) - Source: Newest Presentation

        $ in millions Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13
        Network Rev - GAAP $3.7 $4.4 $5.1 $4.2 $4.1 $5.0 $7.6 $8.3 $11.6
        TAC 1.3 1.6 1.5 1.5 2.0 2.1 3.7 4.2 6.8
        Network Rev- Ex TAC $2.4 $2.8 $3.6 $2.7 $2.2 $2.9 $3.9 $4.1 $4.8

        That is an increase of network-revenues in the last two years from 3.7 million in Q2-11 to 11.6 million in Q2-13.

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