Last $1.61 USD
Change Today -0.02 / -1.23%
Volume 49.6K
LOCM On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 4:30 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

local corp (LOCM) Snapshot

Open
$1.61
Previous Close
$1.63
Day High
$1.69
Day Low
$1.60
52 Week High
09/5/13 - $2.30
52 Week Low
08/30/13 - $1.52
Market Cap
37.4M
Average Volume 10 Days
54.1K
EPS TTM
$-0.18
Shares Outstanding
23.2M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for LOCAL CORP (LOCM)

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local corp (LOCM) Details

Local Corporation, a technology and advertising company, provides search results to consumers who search online for local businesses, products, and services in the United States. The company operates in two segments, Paid Search and Daily Deals. It offers various local search advertising products and services comprising Local.com, a Website and app, which reaches approximately 20 million monthly unique visitors (MUVs); hosted network, a database of local business and product listings along with ad feeds, which consists of approximately 1,600 partner Websites and reaches approximately 7 million MUVs; and display and pre-roll video networks that provide advertisers with additional reach and exposure for brands through distribution of customized display and pre-roll ads. The company also provides pay-per-call network that connects online and on-the-go consumers searching for local businesses and services in specific categories with relevant advertisers providing those services through pay-per-call ads; and Krillion local shopping platform, which comprises approximately 120,000 retail store locations and 3 million localized products, as well as provides store information, including contact information, hours of operation, driving directions, and maps for the retailers who carry that product. In addition, it offers Havvit shopping app that enables consumers to find products near them, track savings, compare prices, and make a purchase. The company was formerly known as Local.com Corporation and changed its name to Local Corporation in September 2012. Local Corporation was founded in 1999 and is headquartered in Irvine, California.

local corp (LOCM) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $358.6K
Consultant
Total Annual Compensation: $661.7K
Compensation as of Fiscal Year 2013.

local corp (LOCM) Key Developments

Local Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year 2014

Local Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $22,514,000 against $22,656,000 a year ago. Operating loss was $879,000 against $381,000 a year ago. Loss from continuing operations before income taxes was $1,507,000 against $163,000 a year ago. Net loss from continuing operations was $1,330,000 or $0.06 per basic and diluted share against $322,000 or $0.01 per basic and diluted share a year ago. Net loss was $1,330,000 or $0.06 per basic share against $3,586,000 or $0.16 per basic share a year ago. Adjusted EBITDA was $1,005,000 or $0.04 per diluted share against $1,175,000 or $0.05 per diluted share a year ago. For the six months, the company reported revenue of $48,694,000 against $44,120,000 a year ago. Operating loss was $2,556,000 against $2,604,000 a year ago. Loss from continuing operations before income taxes was $4,061,000 against $3,224,000 a year ago. Net loss from continuing operations was $4,158,000 or $0.18 per basic and diluted share against $3,454,000 or $0.15 per basic and diluted share a year ago. Net loss was $4,158,000 or $0.18 per basic share against $6,939,000 or $0.31 per basic share a year ago. Net cash provided by operating activities was $3,682,000 against $1,115,000 a year ago. Capital expenditures were $2,073,000 against $1,397,000 a year ago. Revenue for 2014 is expected to be in the range of $103 million to $107 million, which at the mid-point is an increase of 11% over 2013 revenue. Adjusted EBITDA for 2014 is expected to be in the range of $3 million to $4 million, or between $0.13 and $0.17 per diluted share, assuming diluted weighted average shares of 23.5 million taking into account the dilutive effect of stock options and warrants. Projected 2014 Adjusted EBITDA Factors: interest expense of $1.7 million, income tax provision of $200,000, depreciation expense of $4.0 million, amortization expense of $900,000.

Local Corporation Announces Board Appointments

Local Corporation announced that its 2014 Annual Meeting of Stockholders was held on August 5, 2014. At the meeting, its stockholders elected Norman K. Farra, Jr. as a Class I member of the company's Board of Directors for a 3-year term expiring in 2017. The company also announced the composition of its board committees going forward. John Rehfeld, David Hughes and John Payne will serve on the board's audit committee. Rehfeld and Payne will serve on the board's compensation committee, and Rehfeld and Hughes will serve on the board's nominating and corporate governance committee. Rehfeld will serve as chairman of each of these committees.

Local Corporation Promotes Scott Reinke to Chief Legal Officer

Local Corporation announced that it has promoted Scott Reinke to the position of chief legal officer, effective July 1, 2014. Reinke joined the company in 2009 as general counsel responsible for managing the company's legal initiatives, including contracts, regulatory compliance, litigation, and intellectual property. In his new role, Reinke will also be responsible for leading the company's patent portfolio strategy. Reinke has more than 15 years of corporate law experience. Prior to Local Corporation, he served as executive vice president and general counsel for Emerging Media Group Inc., which owns and operates TRAFFIQ Inc. and Market Maker Interactive. Reinke also served as the vice president of legal and AGC for MIVA Inc.

 

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