Earnings: Local.com Slims Net Loss In Q2; Revenue Gains 54 Percent

Search engine company Local.com (Nasdaq: LOCM) narrowed its net loss to $3.1 million in Q2, compared to last year’s loss of $3.4 million. Revenues were up about 54 percent to $5.1 million from Q206’s $3.3 million. Other highlights from the Irvine, CA.-based company’s Q2 report included:

— Revenue per thousand visitors was $154, an increase of 170 percent from $57 in Q206 and up 12 percent from $137 in Q1.

— Some of the factors cited for Local.com’s generally improved quarter was the introduction of travel-related content and online booking capabilities, as well as an ad-supported local mobile search service.

— This month, the company announced plans to sell 2.3 million shares of common stock to two institutional investors in a private placement transaction for $5.50 per share. Earnings release | Webcast

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