LOK looksmart limited

Filling the gap

  1. 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%


 
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