As acouch so correctly called it, LOK reached 0.125 after LOOK faded on low volume in the last couple of trading sessions. I'm back in at .13 settling in for the ride.
Let's look at those numbers again...
LOOKSMART LIMITED 2002-10-25 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++ LISTINGS REVENUE GROWS 23%; EBITDA MORE THAN DOUBLES; COMPANY TO RAISE FULL-YEAR EARNINGS GUIDANCE
LookSmart (Nasdaq: LOOK; ASX: LOK), a global leader in search marketing, today announced financial results for the third quarter ended September 30, 2002.
FINANCIAL HIGHLIGHTS:
REVENUE INCREASES TO $23.8M: Revenue for the third quarter grew to $23.8 million, a 13% increase from $21.0 million in the second quarter 2002 and a 35% increase from $17.6 million in the third quarter 2001.
LISTINGS REVENUE GROWS 23%: LookSmart reported continued strong growth in listings with revenue of $18.7 million, a 23% increase over $15.2 million in the prior quarter and a 105% increase over $9.1 million in the third quarter 2001. This is the tenth consecutive quarter that LookSmart has reported double-digit growth in paid listings, which now represents nearly 80% of total revenue.
SMALL BUSINESS LISTINGS REVENUE RISES 44%: Small business listings revenue was $2.8 million, an increase of 44% over $2.0 million in the prior quarter. At the end of the third quarter, LookSmart had more than 26,000 active, paying small business listings.
PAID CLICKS INCREASE 37%: LookSmart recorded 120 million total paid clicks for the third quarter, a 37% increase over 87 million in the prior quarter and a 134% increase over 51 million clicks in the third quarter 2001.
EBITDA PROFIT MORE THAN DOUBLES: LookSmart's EBITDA profit (earnings before interest, tax, depreciation, amortization and certain other items) more than doubled to a record $3.8 million or $0.04 per share, from $1.8 million or $0.02 per share in the prior quarter and a loss of ($1.7 million) or ($0.02) per share in the third quarter of 2001. GAAP net loss for the third quarter was ($0.5 million) or ($0.00) per share compared to a net loss of ($0.8 million), or ($0.01) per share in the second quarter, and ($10.2 million) or ($0.11) per share in the prior year quarter.
CASH GROWS BY $3.0M TO $51.7M: Unrestricted cash and short-term investments grew by $3.0 million over the prior quarter to $51.7 million as of September 30, 2002. This compares with $2.5 million in cash generated in the second quarter 2002.
KEY OPERATING METRICS: Q3 '01 Q2 '02 Q3 '02
Paid Clicks (millions) 51 87 120 Average Revenue-per-Click $0.20 $0.19 $0.17 Average Distribution Costs 29% 42% 43%
LOK Price at posting:
0.0¢ Sentiment: None Disclosure: Held