It's About To Go From Bad To Ugly At ReachLocal
ReachLocal Cutting Its Way To Profits
Tue, Aug. 9, 10:45 AM
- Gannett (GCI -1.6%) has closed on its acquisition of online marketing firm ReachLocal (NASDAQ:RLOC) and made it a wholly owned subsidiary, with an eye to boosting digital revenues.
- Gannett had launched a cash tender offer in a deal valued at $156M in June.
- The tender offer was completed at midnight last night followed by a merger; about 92.16% of outstanding ReachLocal shares had been validly tendered.
- The deal should be neutral in the first full year and slightly accretive to EPS in the second full year, the company says. "The addition of ReachLocal's market-leading digital marketing services and solutions will increase our overall digital revenues by roughly 50% and we expect that our overall digital revenues will now approach $1 billion in 2017," says Gannett CEO Robert Dickey.
Mon, Aug. 1, 5:57 PM
- Gannett (NYSE:GCI) has extended its $4.60/tender offer for the shares of ReachLocal (NASDAQ:RLOC) to the end of next Monday, Aug. 8.
- That offer had been set to expire at the end of this Friday, Aug. 5. But Gannett is allowing time for some revised disclosures in the deal.
- Gannett says its depositary advised that as of 4:30 p.m. Friday, some 42.1% of outstanding RLOC shares had been validly tendered.
- RLOC gained 0.4% today to close back at the $4.60 deal price; Gannett closed down 2%.
Mon, Aug. 1, 5:35 PM
- ACLS, AFG, AGII, AIG, AMED, AMSG, AR, ARC, AVD, BEAT, BECN, BGFV, BPI, BRKR, CALD, CALX, CAR, CENT, CERN, CHEF, CHUY, CLI, CLUB, CRAY, CSU, CXO, CZR, DEI, DVN, DXCM, EA, ELGX, ENLK, ENPH, ESE, ESIO, EXAM, FANG, FARO, FGL, FISV, FIT, FMC, FMI, FNGN, FORM, FTAI, FTV, FUEL, GHDX, GLUU, GNW, GUID, HBI, HCI, HIW, HRZN, INN, JIVE, KAR, KFRC, LOCK, LQ, MATX, MDU, MOD, MRC, MRCY, MXWL, NBR, NEWR, NFX, NOVT, NPO, NYMT, OCLR, OESX, OHI, OKE, OKS, OMI, ORA, PAA, PAGP, PAYC, PBPB, PLT, PRMW, PRO, PZZA, QRVO, QUOT, REXX, RGR, RIGL, RLOC, RPAI, RPXC, RUBI, SF, SGY, SLCA, SM, STAG, SUPN, SYRG, TMH, TNAV, TPC, TRQ, TRUP, TSRA, TX, VNOM, VRSK, VTAE, WMGI, WR, WTR, XXIA, Y, ZAGG, ZEN
Fri, Jul. 29, 12:47 PM
- Online marketing firm ReachLocal (RLOC +0.4%), in the midst of being acquired by Gannett (GCI -0.3%), beat revenue expectations despite a Y/Y drop-off in revenue that still improved on Q1 numbers.
- Revenue of $81.5M fell off 17.5% but beat an expected $79.8M. A net loss (GAAP) of $0.14/share was in line with expectations.
- Adjusted EBITDA grew to $5.5M from a year-ago $715,000, and beat expectations for $3.7M.
- Revenue by U.S. channel: Direct local, $43.9M; National Brands, Agencies and Resellers, $15.5M. Revenue by international channel: Direct local, $18.5M; NBAR, $3.5M.
- At quarter's end, the company had 16,000 active clients (down from 19,500), and 27,700 active product units (down from 29,600).
- Press Release
Fri, Jul. 29, 9:24 AM
Tue, Jun. 28, 12:46 PM
Tue, Jun. 28, 9:18 AM| Tue, Jun. 28, 9:18 AM | 1 Comment
Mon, Jun. 27, 5:35 PM
Mon, Jun. 27, 5:13 PM
- Gannett (GCI -4.1%) has sealed a definitive deal to acquire marketing solutions firm ReachLocal (RLOC +5.6%), for about $156M.
- That's a tender offer of $4.60/share in cash, a 188% premium to Friday's closing; ReachLocal has jumped 167% after hours, to $4.51.
- Gannett says the deal will add more than $320M a year in annual digital revenue, and expects the deal to be neutral to EPS in its first full year and then modestly accretive.
- Both boards have unanimously approved the deal.
- After hours: GCI +0.9%.
Tue, May 3, 4:37 PM
- ReachLocal (NASDAQ:RLOC): Q1 EPS of -$0.12 beats by $0.09.
- Revenue of $78.71M (-20.9% Y/Y) beats by $1.01M.
- Shares +12.72%.
Mon, May 2, 5:35 PM
- AGU, AMED, AMSG, ARC, AVD, BFAM, BGFV, BKH, BPI, CAI, CALD, CALX, CAR, CBS, CERS, CHEF, CHUY, CRAY, CSU, DVN, ENLK, ENPH, EPIQ, ETSY, FANG, FARO, FMI, GLUU, GMED, GNMK, HCI, HI, HRZN, IAG, IL, ILMN, INN, JKHY, KAMN, KAR, KFRC, LCI, LYV, MAC, MDU, MTCH, MTDR, MXWL, MYGN, NDLS, NFX, NKTR, NTRI, NYMT, OCLR, OKE, OKS, OMI, PAYC, PBPB, PKD, PLT, PRMW, PRO, PZZA, QUAD, QUOT, REG, REGI, RIGL, RLOC, RPXC, RSYS, RTRX, RUBI, SM, SPA, STAG, SUPN, TAHO, TNAV, TXMD, USNA, VIAV, VNOM, VRSK, VVUS, WES, WGP, WR, WTR, WU, XCO, XPO, XXIA, ZEN
Mon, May 2, 12:47 PM
Thu, Feb. 25, 4:37 PM
- ReachLocal (NASDAQ:RLOC): Q4 EPS of $0.01 beats by $0.38.
- Revenue of $88.97M (-18.4% Y/Y) misses by $1.17M.
Wed, Feb. 24, 5:35 PM
- ACTG, ADSK, AEGR, AGO, AHT, AIRM, AL, ALEX, AMH, ATLS, AXLL, BGS, BIDU, BIO, BLOX, BMRN, BVN, CBI, CBPO, CLVS, COWN, CSU, CVT, DGI, DK, DKL, DLR, EBS, ENV, EOG, EVC, GERN, GG, GPS, GSAT, HASI, HEI, HK, HLF, HTGC, HWAY, IART, IM, IMMR, INTU, KBR, KHC, KND, KW, KWR, LYV, MACK, MAIN, MDVN, MELI, MHK, MITT, MNST, MTZ, NDLS, NNI, NTRI, OLED, OUT, OVAS, PANW, PBA, PEGA, PFMT, PODD, PRAA, RARE, RBA, RLOC, RPTP, RRC, RRMS, RTRX, SBAC, SEM, SEMG, SPLK, SPNC, SSRI, STAG, STMP, STRZA, SWN, TSRO, TWOU, TXMD, UHS, WIFI, WPG, WTW, XNPT, ZOES
Thu, Jan. 7, 11:44 AM
- ReachLocal (NASDAQ:RLOC) is up in a tough market today, +1.8%, as it notes in a filing that it's resolved a noncompliance issue with Nasdaq.
- The company had received a December letter saying its common stock failed to comply with a minimum public float requirement.
- Nasdaq said this week that the matter is closed as the company regained compliance.
Dec. 18, 2015, 12:46 PM