Local Corporation Reports Preliminary First Quarter 2013 Results

Company reports positive cash flow from operations one quarter earlier than forecasted

IRVINE, Calif.–(BUSINESS WIRE)– Local Corporation (NAS: LOCM) , a leading online local media company, today reported preliminary first quarter 2013 financial results.

Based on preliminary results, the company reports first quarter revenue of approximately $21.7 million, up 4 percent from the prior quarter. In addition, the company reports positive cash provided by operating activities for the first quarter 2013, one quarter earlier than forecasted.

“We have had a strong start to the year and our initiatives on expanding margins in Owned & Operated, and on accelerating growth in our Network business have been successful to date,” said Heath Clarke, Local Corporation chairman and CEO. “We are pleased to announce that we are meeting performance milestones related to achieving our full year strategic objectives, and we exceeded our first quarter expectations.”

In accordance with normal procedures, these preliminary revenue and cash flow results are subject to further review by the company and its auditors, which include the finalization of potentially significant items that could affect these results. The company will provide full first quarter 2013 results and announce its upcoming earnings call in due course.

About Local Corporation

Local Corporation (NAS: LOCM) is a leading online local media company that connects brick-and-mortar businesses with over a million online and mobile consumers each day using a variety of innovative digital marketing products. To advertise, or for more information, visit: http://localcorporation.com.

Forward Looking Statements

This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words or expressions such as ‘anticipate,’ ‘believe,’ ‘estimate,’ ‘plans,’ ‘expect,’ ‘intend,’ ‘project,’ ‘forecast,’ ‘potential,’ ‘feel’ and similar expressions and phrases are intended to identify such 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, …read more
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