ReachLocal Loss NarrowsTuesday, February 12, 2013
ReachLocal Inc. reported growth in revenue and a narrower net loss for both its fourth quarter and full-year 2012, citing the success of its continued international expansion and new mobile products.
The Woodland Hills firm provides online marketing services to small and medium businesses, including search engine and website display advertising.
The company announced a fourth-quarter net loss of $394,000, down from $1.34 million in the same quarter a year earlier. Revenue was $120 million, up 20 percent.
For the full year, revenue was $455 million and the net loss was $232,000. That compares with revenue of $375 million and a loss of $10.3 million from the previous year. Revenue beat the company’s guidance by $10 million.
During the year, ReachLocal expanded its services to Brazil, Asia, and Latin America. It also rolled out several apps to bring its advertising onto mobile platforms.
The company also reported it purchased 1.1 million shares of stock during the year for a total of $10.8 million.
“2012 was another excellent year for ReachLocal,” Chief Executive Zorik Gordon said in a statement. “We accelerated international expansion into two new continents, launched important new lead generation and mobile products, and continued to lay the foundation for our local commerce and software product initiatives.”