Looksmart (ticker: LOOK) reported Q2 2005 earnings results that missed consensus revenue and EPS estimates. Key stats:
(all percentage changes and comparisons are year on year, unless stated otherwise)
- Revenue fell 46.6% to $10.2 million, versus consensus estimate of $12.0 million.
- Gross margin was 35.3% versus 42.5%.
- Operating expenses fell 9.5% to $9.5 million.
- Sales and marketing expenses fell 4.5% to $1.7 million.
- Product development expenses fell 27.7% to $4.3 million.
- G&A expenses fell 31.7% to $1.5 million.
- Operating loss of $5.9 million versus a loss of $2.3 million.
- Net loss of $5.4 million versus a loss of $1.2 million.
- Diluted EPS loss of $0.05 versus a loss of $0.01, and versus consensus loss of $0.04.
- Note: Operating expenses include a $1.9 million non-cash restructuring charge in Q2 2005, and a $420,000 non-cash restructuring charge in Q2 2004.
- Revenue of $7.0 - $8.0 million versus consensus of $12.7 million.
- Traffic acquisition costs expected in the range of 56% - 59%.
- Operating expenses of $8.0 - $9.0 million.
- GAAP net loss of $5.5 - $6.5 million or a loss of $0.05 per share, versus consensus loss of $0.04.
- Total paid clicks were 80 million versus 83 million in Q1.
- Average revenue per click excluding the company's Run Of Site (ROS) product was $0.15, an increase of 7% compared to $0.14 in Q1.
- CFO Lonergan announced his resignation.
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