Tuesday, October 26, 2010
ReachLocal Grows Revenues By 47 Percent
Woodland Hills-based ReachLocal, the provider of local online marketing services for small and medium sized businesses, reported its results Tuesday, saying that it had $77.1M in revenues for Q3 of 2010, up 47 percent from Q3 of last year, when it had $52.6M in revenues. The quarterly results were a 10 percent growth from the prior quarter. The firm reported a net loss of $2.8M, compared with net income of $14.9M for the quarter. The firm's net income last year in Q3 was boosted by a one-time gain related to the acquisition of its Australian subsidiary. ReachLocal said it now expects consolidated revenues in the range of $80.0 to $80.4M in fourth quarter of 2010, and full year consolidated revenue in the range of $291.1 to $291.5M. ReachLocal is one of the newest publicly traded firms in Southern California, and also ranks among the fastest growing technology related companies in the region. ReachLocal hit the markets in May, and most recently was ranked the fastest growing technology companies in the Deloitte Fast 500.