ReachLocal, Inc. Announces Executive Changes
Dec 11 13
ReachLocal, Inc. announced that it entered into a separation agreement with John Mazur, the company Europe's Chief Executive Officer, who is leaving the company to return to the United States and pursue other opportunities. Craig Harris most recently as Co-General Manager of Asia and Co-Managing Director of Australia, will become the new Managing Director and Chief Operating Officer of Europe. Stephen Prestidge, who also joined the company in 2008 and has been Mr. Harris' partner as Co-General Manager of Asia and Co-Managing Director of Australia, has been promoted to Managing Director of Asia and Australia. Mr. Mazur will continue in his current role through January 14, 2013, and thereafter will serve as a Senior Advisor until February 28, 2014 to assist with the transition of his responsibilities to Mr. Harris. Mr. Mazur will continue his employment until the Termination Date on the same terms and conditions as prior to entering into the Separation Agreement.
ReachLocal, Inc. Announces General Availability in Canada of ReachEdge
Nov 13 13
ReachLocal, Inc. announced the general availability in Canada of ReachEdge, an easy-to-implement marketing system that helps SMBs get more customers from their marketing spend. ReachEdge is a key component of ReachLocal's new marketing and commerce Software-as-a-Service (SaaS) suite of products, which help local merchants digitize their businesses, operate more efficiently and maximize the return on their investments. ReachEdge was recently released in the U.S., where it has been met with favorable customer response. So many business owners make significant investments in online marketing and advertising, only to have the majority of their leads slip through the cracks. If they don't have a website that engages visitors and turns them into leads, have a mobile website, quickly respond to new leads, routinely follow up with their best leads, or know which of their marketing campaigns are working, they are likely wasting those investments. ReachEdge is a comprehensive marketing system that gives business owners the tools and support they need to get the most out of their marketing dollars. It combines a smart website, easy-to-use lead management software and a powerful mobile application that work together to help SMBs convert more visitors into leads and more leads into customers. ReachEdge product features: Smart Website; Professionally designed, incorporating best practices for lead conversion; Optimized version for smartphones and tablets; Custom content creation; Advanced capture technology (tracking phone numbers, automatic contact information capture); Integrated with social media presence; Search engine optimized content and features; Self-service updates; Optional live chat module; Lead Management Software; Real-time notification of new contacts via text message, email or mobile app alert; Call recording; One-touch lead classification that kicks off automated marketing; Automated lead list building; Reminder notifications of active leads; Custom, branded lead nurturing emails; Mobile Application; Prioritized list of new contacts and active leads requiring follow-up; Full information on each lead, including call-recordings and email/form details; Lead source and engagement reports; Closed loop reporting on revenue driven by each marketing source; Detailed performance reports available via web portal.
ReachLocal, Inc. Announces Executive Changes; Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Fourth Quarter of 2013 and Full Year 2013
Nov 5 13
ReachLocal, Inc. announced that Josh Claman will become the President of the company. As Chief Revenue Officer, Josh has led its continued global expansion and efforts towards enhancing and improving go-to-market strategies. With his more than 25 years of experience building and leading sales and service organizations across Asia, Europe and the Americas, including with Dell, Josh is well suited to help lead the company in the next phase of its global growth. The company also announced that Nathan Hanks resigned as an officer and director of the company.
The company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, revenue was $133,148,000 against $118,891,000 a year ago. Income from operations was $127,000 against $1,117,000 a year ago. Income before provision for income taxes was $308,000 against $1,150,000 a year ago. Net loss was $1,122,000 or $0.04 per basic and diluted share against net income of $836,000 or $0.03 per basic and diluted share a year ago. Adjusted EBITDA was $7,302,000 against $7,221,000 a year ago. Non-GAAP income from operations was $1,117,000 against $4,671,000 a year ago. Non-GAAP income before provision for (benefit from) income taxes was $1,150,000 against $4,704,000 a year ago. Non-GAAP net income was $2,630,000 or $0.09 per diluted share against $4,458,000 or $0.15 per diluted share a year ago. Operating cash from continued operating activities was $13.9 million compared with the net cash from continued operations of $9.5 million for the prior-year period, reflecting changes in timing of underpayments and rebates, among other balance sheet items.
For the nine months, revenue was $382,023,000 against $335,106,000 a year ago. Income from operations was $827,000 against $560,000 a year ago. Income before provision for income taxes was $1,349,000 against $898,000 a year ago. Net loss was $1,898,000 or $0.07 per basic and diluted share against net income of $162,000 or $0.01 per basic and diluted share a year ago. Net cash provided by operating activities was $25,735,000 against $31,878,000 a year ago. Additions to property, equipment and software were $16,148,000 against $12,067,000 a year ago. Adjusted EBITDA was $21,243,000 against $17,190,000 a year ago. Non-GAAP income from operations was $11,074,000 against $10,076,000 a year ago. Non GAAP income before provision for (benefit from) income taxes was $11,596,000 against $10,414,000 a year ago. Non-GAAP net income was $8,501,000 or $0.29 per diluted share against $9,819,000 or $0.34 per diluted share a year ago.
For the fourth quarter of 2013, the company expects revenue in the range of $133 million to $136 million and adjusted EBITDA in the range of $8.8 million to $9.8 million.
For the full year 2013, the company expects revenue in the range of $515 million to $518 million and adjusted EBITDA in the range of $30 million to $31 million.