"Local Corporation Announces Record Search Traffic
Reaches over 100 million quarterly MUVs
IRVINE, Calif.--(BUSINESS WIRE)--Jul. 18, 2012-- Local Corporation (NASDAQ: LOCM), a leading online local media company, today announced record second quarter 2012 search traffic.
The company reached over 100 million monthly unique visitors (MUVs) during the second quarter, up 20 percent from 83 million MUVs during the year ago period.
"This is a major milestone for our business,” said Heath Clarke, Local Corporation, chairman and chief executive officer. "Traffic is a key performance indicator for our business and we believe this new traffic record illustrates the significant progress we have made over the past few years in growing our overall ecosystem.”
All site traffic and usage statistics are from third-party service providers engaged by the company. Quarterly MUV traffic is equal to the aggregate of each month's MUV traffic numbers in that quarter."
"Second quarter 2012 Adjusted Net Income was $0.5 million or $0.02 per diluted share compared to second quarter 2011 Adjusted Net Loss of $1.5 million or ($0.07) per diluted share."
Source: Report about second quarter
In the Fiscal 2012 Financial Guidance in the report about Q2/2012 increased Local.com the guidance for the adjusted net income from former 6 cent to 10 cent.
Fiscal 2012 Financial Guidance:
Revenue - The company expects 2012 revenue to be approximately $106 million, which will be an increase of over 35% compared to 2011 revenues.
Adjusted Net Income – Adjusted Net Income for 2012 is expected to be approximately $2.2 million, or $0.10 per diluted share, assuming diluted weighted average shares of 23.0 million, taking into account the dilutive effect of stock options and warrants.