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LOK, LOOKSMART LIMITED
laserdude
post Posted: Mar 12 2004, 05:49 PM
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Posts: 52


Glad to see this board up and running, hope we can get a few comments from alot of people. Look announcment today was an unexpected goodie. I do think that the company is trying its hardest to keep themselves alive. And I do think they will go from srength to strenght, even though it might be slow and sure. smile.gif regards LD



--------------------
And castles made of sand
Fall in the sea
EVENTUALLY.
J. Hendrix

 
LookingConfident
post Posted: Mar 11 2004, 10:58 PM
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IN REPLY TO A POST BY LookingConfident, Thu 11/03/04 10:55pm

The great news within that announcement is :

<LookSmart recently signed an agreement with Microsoft to continue providing LookSmart search results to MSN for periodic use at its discretion.>

Seems like MSN may be missing the $50 million look 'chipped in' with last year.

smile.gif

LC



 
LookingConfident
post Posted: Mar 11 2004, 10:55 PM
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IN REPLY TO A POST BY topic-starter, Mon 08/03/04 01:19pm

LOK will no doubt 'gap up' tonight on the nasdaq following good news just released. LookSmart have announced that Q1 revenue guidance has been raised by approx $5 million. Great news for 'battered' holders like myself ... LOL

The announcement is as follows :

..............................................................................................................................

LookSmart Raises First Quarter Guidance
Thursday March 11, 6:30 am ET
Company Cites Rapid Growth in Core Listings Business and Continued Cost Reduction


SAN FRANCISCO, March 11 /PRNewswire-FirstCall/ -- LookSmart (Nasdaq: LOOK - News; ASX: LOK - News), a leader in Internet search, today raised its financial guidance for the first quarter ending March 31, 2004.
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LookSmart now expects revenue for the first quarter to be in the range of $21 million to $23 million, up from $16 million to $18 million as previously anticipated.

For the first quarter, adjusted net loss, which equates to GAAP Net Income/Loss excluding the charge or benefit due to stock compensation from variable stock options, is expected to narrow to $10 million to $12 million including restructuring charges of approximately $4 million to $5 million. This compares to prior adjusted net loss forecasts for the first quarter of $12 million to $14 million, including restructuring charges of approximately $5 million to $6 million.

Adjusted Net Income/Loss is not in accordance with, or an alternative to, GAAP financial measures and may be different from pro forma measures used by other companies. The guidance provided in this press release is based on limited information available to the Company at this time, and is subject to change. The Company does not provide all of its guidance on a GAAP basis because information relating to the variable accounting for repriced stock options is not accessible on a forward-looking basis and its probable significance is not determinable. Although management's expectations may change after the date of this release, the Company undertakes no obligation to revise or update these statements.

LookSmart's improved financial outlook reflects solid growth in its core LookListings business and continued progress in reducing the company's overall cost structure. Positive business trends include the rapid signing and implementation of new distribution partners to its Sponsored Search network and success in meeting customer needs by providing high performance search traffic at a reasonable cost as compared to larger search networks, which can be prohibitively high for marketers. Additionally, LookSmart recently signed an agreement with Microsoft to continue providing LookSmart search results to MSN for periodic use at its discretion.

Damian Smith, LookSmart's interim chief executive officer, commented, "We are very pleased with the progress we have made this quarter and expect our ongoing Sponsored Search revenue to grow by over 25% compared to the first quarter last year. In addition, our restructuring efforts remain on track and we continue to expect a strong cash position in excess of $60 million at the end of the quarter. LookSmart remains steadfastly focused on growing our paid listings business, reducing costs, and implementing new growth strategies focused on profitable segments within the search industry. We are making solid progress towards capitalizing on new, under-served opportunities that build and monetize proprietary traffic leveraging existing technology in specialized segments of the search market, and look forward to providing regular updates on our growth initiatives and ongoing financial performance."

LookSmart plans to provide second quarter and update its full year guidance when it announces first quarter earnings on April 29, 2004. Conference call details will follow at a later date.

Use of Non-GAAP Financial Information

We believe that Adjusted Net Income/Loss is an appropriate measure of evaluating our operating performance because by excluding the impact of variable stock compensation, which we believe is not indicative of our core operating results, the users of the financial statements are provided with a valuable insight into our operating results. Non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, cash flow from operations, net income, or other measures of financial performance prepared in accordance with generally accepted accounting principles.

About LookSmart

LookSmart is a leader in commercial search services and a developer of innovative web search solutions. The Company provides consumers with highly relevant search results through a distribution network that includes LookSmart.com and other top portals and ISPs, while delivering targeted sales leads to online businesses. LookSmart is based in San Francisco, California. For more information, visit www.looksmart.com.
................................................................................................................................

smile.gif

LC



 
topic-starter
post Posted: Mar 8 2004, 01:19 PM
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LOOKSMART LIMITED

 
 


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