Local.com Reports Preliminary Q3 2009 Financial Results

IRVINE, CA, October 5, 2009 — Local.com Corporation (NASDAQ: LOCM), a leading local search site and network, today announced that based on unaudited preliminary results for the three months ended September 30, 2009, the company expects revenue to be between $14.8 and $15.1 million, exceeding the high end of its prior guidance of $14.6 million.

The company also said it expects Adjusted Net Income to be between $1.3 and $1.4 million or approximately $0.09 per diluted share, which meets or exceeds the high end of its prior guidance of $1.3 million, or $0.09 per diluted share.

These unaudited preliminary revenue and earnings results are, in accordance with normal procedures, subject to further review and completion by the company and its auditors.

To celebrate the company’s 10th anniversary, the company’s chairman and CEO, Heath Clarke, will be ringing The NASDAQ Stock Market Opening Bell on Thursday, October 8, 2009 at 9:30 a.m. Eastern Time. The Opening Bell ceremony will take place at the NASDAQ MarketSite broadcast studio in New York City's Times Square. A live webcast of Local.com’s NASDAQ Opening Bell ceremony will be available at: http://www.nasdaq.com/reference/marketsite_about.stm.

Following the Opening Bell ceremony, Local.com will also be hosting its first Analyst Day from 12:00 p.m. to 5:00 p.m. Eastern Time. For those interested in attending the presentation to analysts, please contact the company at: ctriebwasser@local.com.

The preliminary third quarter 2009 financial results are being disclosed in connection with the Analyst Day. The company does not intend to release preliminary financial results in future periods unless such results differ materially from prior guidance.

The regularly scheduled conference call to discuss the company’s third quarter 2009 financial results will be announced at a later date.

Adjusted Net Income/Loss is defined as net income/loss excluding: provision for income taxes; interest and other income (expense), net; depreciation; amortization; stock based compensation charges and non-recurring items.

An explanation of the company’s use of non-GAAP financial measures, including the limitations of such measures relative to GAAP measures is included below, along with a table that reconciles expected Net Loss to expected Adjusted Net Income for the company’s third quarter 2009 financial results.

For more information on the company please visit: http://corporate.local.com.

Source: Local.com