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Local Corporation Message Board

  • flankenking flankenking Feb 14, 2013 4:39 PM Flag

    I believe this report is okay

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

    Local Corporation , a leading online local media company, today reported its financial results for the fourth quarter and fiscal 2012.

    “We are pleased to reiterate our prior guidance for 2013 revenue growth of about 12 percent above our fourth quarter 2012 exit run rate and anticipate first quarter 2013 revenues will exceed fourth quarter 2012 revenues. We expect to swing to Adjusted Net Income in the first quarter of 2013, followed by a return to positive cash flow from operations in the second quarter and steady cash flow growth through the remainder of the year projecting at least $5.0 million in Adjusted Net Income for 2013, said Heath Clarke, Local Corporation chairman and CEO. “We achieved record organic traffic levels during the fourth quarter, a strategic goal of the company. We believe there are many opportunities for growth and margin expansion and remain confident that we are well positioned with a powerful platform, great intellectual property and a team that has proven experience in navigating this rapidly changing, high-growth sector.”

    Local Corporation Reports Fourth Quarter and Fiscal 2012 Financial Results
    Press Release: Local Corporation – 20 minutes ago.. .
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    IRVINE, Calif.--(BUSINESS WIRE)--

    Local Corporation (LOCM), a leading online local media company, today reported its financial results for the fourth quarter and fiscal 2012.

    “We are pleased to reiterate our prior guidance for 2013 revenue growth of about 12 percent above our fourth quarter 2012 exit run rate and anticipate first quarter 2013 revenues will exceed fourth quarter 2012 revenues. We expect to swing to Adjusted Net Income in the first quarter of 2013, followed by a return to positive cash flow from operations in the second quarter and steady cash flow growth through the remainder of the year projecting at least $5.0 million in Adjusted Net Income for 2013,**” said Heath Clarke, Local Corporation chairman and CEO. “We achieved record organic traffic levels during the fourth quarter, a strategic goal of the company. We believe there are many opportunities for growth and margin expansion and remain confident that we are well positioned with a powerful platform, great intellectual property and a team that has proven experience in navigating this rapidly changing, high-growth sector.”

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LOCM
1.99+0.05(+2.58%)Jul 22 4:00 PMEDT

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