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|Local.com Achieves Monetization Milestone|
|IRVINE, CA, Apr 04, 2007 (MARKET WIRE via COMTEX News Network) -- Local.com (NASDAQ: LOCM), a leading local search engine, today
announced that it has surpassed the $35 milestone for search traffic
monetization during March 2007. This milestone reflects consistent
monetization of over $35 in revenues per thousand pages viewed (RPM)
The company previously targeted a $35 RPM based on current ad partners, and expects RPM to increase as it adds direct advertisers, a major initiative for the company in 2007. For the fourth quarter 2006, Local.com achieved a $29 RPM.
"Local.com started 2007 strongly and we continue to improve our monetization. This improvement is a reflection of our general progress," said Heath Clarke, Local.com CEO. "We further believe we can achieve higher RPM than in our prior financial models."
On the company's most recent earnings call, Local.com introduced a new key performance indicator -- RKV -- or revenue per thousand daily visitors. RKV is intended to be a more consistent and useful metric for investors to track monetization improvements. The company will report first quarter 2007 RKV in the upcoming earnings call (date to be announced). The $35 RPM is equivalent to approximately $124 RKV.
As reported previously, RKVs over the past four quarters were approximately as follows: $41; $57; $86; and $92 sequentially. RKV in the fourth quarter of 2006 was up 129% over the same period of the previous year and up 7% over the third quarter.
Local.com generates ad revenues from partners such as Citysearch and Business.com, among others. A variety of ad formats, including banner, pay-per-click and pay-per-call ads are displayed next to Local.com's algorithmic search results, and Local.com shares in revenues generated from these ads.
Local.com (NASDAQ: LOCM) is a Top 100 website attracting approximately 10 million visitors each month seeking information on local businesses, products, services, people and jobs. Powered by the company's patent-pending Keyword DNA(R) and local web indexing technologies, Local.com provides users with targeted, relevant local search results, including special offers from local businesses, user reviews, local businesses' website links, maps, driving directions and more. Businesses can advertise on Local.com with subscription, pay-per-click, banner and pay-per-call ad products.
All statements other than statements of historical fact included in this document regarding our anticipated financial position, business strategy and plans and objectives of our management for future operations, are forward-looking statements. When used in this report, words such as 'anticipate,' 'believe,' 'estimate,' 'plans,' 'expect,' 'intend' and similar expressions, as they relate to Local.com or our management, identify forward-looking statements. Any forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to our management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, our ability to monetize the Local.com domain, incorporate our local-search technologies, market the Local.com domain as a destination for consumers seeking local-search results, grow our business by enhancing our local-search services, expand our Advertiser and Distribution Networks, expand internationally, integrate and effectively utilize our acquisitions' technologies, develop our products and sales, marketing, finance and administrative functions and successfully integrate our expanded infrastructure, as well as our dependence on major advertisers, competitive factors and pricing pressures, changes in legal and regulatory requirements, and general economic conditions. Any forward-looking statements reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this paragraph.
Our Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss the foregoing risks as well as other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. The forward-looking statements in this release speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason.CONTACTS:
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