Local Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company reported revenue of $21,755,000 represents an increase of 50.0% over first quarter 2011 revenue of $25,032,000. Operating loss was $2,444,000 compared to $2,599,000 a year ago. Loss from continuing operations before income taxes was $3,281,000 compared to $2,754,000 a year ago. Net loss from continuing operations was $3,353,000 or $0.15 per basic and diluted share compared to $2,809,000 or $0.13 per basic and diluted share a year ago. Net loss was $3,353,000 or $0.15 per basic and diluted per share compared to $3,202,000 or $0.14 per basic and diluted per share a year ago. Net cash provided by operating activities was $1,057,000 compared to Net cash used in operating activities of $2,595,000 a year ago. Capital expenditures were $635,000 compared to $972,000 a year ago. Adjusted EBITDA was $605,000 or $0.03 per diluted share compared to $7,000 or $0.00 per diluted share a year ago. For the year 2013, the company expected revenue of between $93 million and $95 million, which at the mid-point, is an increase of 12%, over the fourth quarter 2012 exit run rate. Positive Adjusted EBITDA is expected to be at least $5 million increase from the $553,000 negative adjusted EBITDA in 2012, depreciation expense to be $4.5 million and amortization expense to be $1.3 million. The company reiterating guidance of $5 million and adjusted earnings for the year.

Local Corporation, Q1 2013 Earnings Call, May 09, 2013

Local Corporation announced that they will report Q1, 2013 results on May 09, 2013