From Inception to Present Date, Local Corp. (LOCM) Maintains Trend of Operational Growth

In 1999 Heath Clarke went online to make a specific purchase from a manufacturer and was disappointed when he couldn’t find it. While his shopping cart remained empty, the unsuccessful attempt did give him the idea to launch a downloadable search software application for consumers such as himself – this idea quickly evolved into national online media company Local Corporation.

By 2004 the company completed its Initial Public Offering, and by 2007, operating through its own local search site, was granted U.S. patents related to local search technologies and processes. The same year, Borrell Associates ranked Local Corp. as the leader in online advertising revenue growth after the company achieved year-over-year sales growth of 138 percent.

Fast forward to-date, passing over many other significant company milestones in the years in between; as of 2013, more than 1 million consumers use Local Corp.’s online products and services, which include the flagship www.Local.com Web site as well as www.Spreebird.com and a network of more than 1,000 regional media sites.

Local Corp.’s proprietary ad distribution technologies also benefit merchants, enabling them to grow their online presence to reach target consumers and generate repeat business. Merchants utilize the company’s suite of innovative business solutions, including digital marketing products and tools such as local business and product search, mobile, SEO, Web hosting, social media and daily deals, to grow their business, revenue, and customer awareness and engagement.

Local Corp.’s trend of consistently hitting key milestones also spills over into its financial position. Local Corp. recently reported its Q1 2013 financial results, reflecting sequential sales growth. For full-year 2013, Local Corp. expects to continue with a pattern of sequential revenue growth, forecasting revenues between $93 million and $95 million.

“As previously announced, we achieved positive cash flow from operations a quarter ahead of schedule, due to solid gross margin expansion in the first quarter. We remain on track to grow our revenues sequentially while keeping operating expenses about flat, resulting in projected sequential adjusted EBITDA and EPS growth,” Heath Clarke, Local Corp. CEO stated in the company’s May 9, 2013, earnings release. “We completed a small financing in order to strengthen our cash position so that we can focus on specific growth opportunities within our Network business. Overall, we believe our combination of intellectual property, experience and know-how, leave us well-positioned to thrive in local search as well as capitalize on the rapidly emerging mobile local search ecosystem.”

For more information visit www.local.com

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