Local Corporation Ranked 284th Fastest Growing Company
Third Consecutive Year in Deloitte’s 2012 Technology Fast 500™
IRVINE, Calif. -- November 16, 2012
Local Corporation (NASDAQ: LOCM), a leading online local media company, today
announced that it ranked No. 284 on Deloitte’s Technology Fast 500™, a ranking
of the 500 fastest growing technology, media, telecommunications, life
sciences and clean technology companies in North America. Local Corporation
grew 266 percent from 2007 to 2011.
"We’re pleased to again be included in the prestigious Deloitte Technology
Fast 500," said Heath Clarke, Local Corporation chairman and chief executive
officer. "Our commitment to delivering digital marketing solutions to small
businesses, regional publishers, and national advertisers alike across the Web
continues to yield strong growth and industry recognition for our company.
We’d like to take this opportunity to thank Deloitte for their leadership in
celebrating North America's fastest growing companies.”
“We are proud to honor the 2012 Technology Fast 500™ companies, and commend
them for their outstanding growth,” said Eric Openshaw, vice chairman,
Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader.
"These ground-breaking companies have outpaced their competition and are
reinventing the way we do business today.”
“The companies on the Fast 500 list are among those that have demonstrated
remarkable innovation, creativity and business savvy,” said Bill Ribaudo
partner, Deloitte & Touche LLP and national TMT leader for audit and
enterprise risk services (AERS). “As a result, these companies have continued
to successfully forge ahead in a challenging economic environment. We applaud
the leadership and employees of Local Corporation for this impressive
Overall, 2012 Technology Fast 500™ companies achieved revenue growth ranging
from 128 percent to 279,684 percent from 2007 to 2011, with an average growth
of 2,774 percent.
About Deloitte’s 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of
the fastest growing technology, media, telecommunications, life sciences and
clean technology companies – both public and private - in North America.
Technology Fast 500 award winners are selected based on percentage fiscal year
revenue growth from 2007 to 2011. In order to be eligible for Technology Fast
500 recognition, companies must own proprietary intellectual property or
technology that is sold to customers in products that contribute to a majority
of the company's operating revenues. Companies must have base-year operating
revenues of at least $50,000 USD or CD, and current-year operating revenues of
at least $5 million USD or CD. Additionally, companies must be in business for
a minimum of five years, and be headquartered within North America.
About Local Corporation
Local Corporation (NASDAQ: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://www.localcorporation.com.
Forward Looking Statements
This press release contains certain forward-looking statements that are based
upon current expectations and involve certain risks and uncertainties within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Words or expressions such as "anticipate," "plan," "will," "intend," "believe"
or "expect'" or variations of such words and similar expressions are intended
to identify such forward-looking statements. These forward-looking statements
are not guarantees of future performance and are subject to risks,
uncertainties, and other factors, some of which are beyond our control and
difficult to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements. Key risks are
described in the filings we make with the U.S. Securities and Exchange
Commission. 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. Unless otherwise
stated, all site traffic and usage statistics are from third-party service
providers engaged by the company. Traffic and our monetization of that traffic
combine to determine our revenues for any given period. Our traffic volume
alone for a period should not be viewed as demonstrative of our financial
results for such period.
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