Local Corporation Reports Preliminary First Quarter 2013 Results

  Local Corporation Reports Preliminary First Quarter 2013 Results

 Company reports positive cash flow from operations one quarter earlier than

Business Wire

IRVINE, Calif. -- April 03, 2013

Local Corporation (NASDAQ: 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 (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://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, including, but not limited to, our advertising
partners paying less revenue per click and revenues to us for our search
results, our ability to purchase advertising from third parties to drive users
to our sites, our ability to adapt our business following the shifts in our
monetization partners, our ability to monetize the Local.com domain, including
at a profit, our ability to retain a monetization partner for the Local.com
domain and other web properties under our management that allows us to operate
profitably, our ability to develop, market and operate our local-search
technologies, our ability to market the Local.com domain as a destination for
consumers seeking local-search results, our ability to realize the expense
savings from our recently announced cost savings measures, our ability to
comply with our debt covenants, our ability to raise additional funds when
needed and on terms that are acceptable to us, our ability to grow our
business by enhancing our local-search services, including through businesses
we acquire, the integration and future performance of our Spreebird business
and our Krillion business, the possibility that the information and estimates
used to predict anticipated revenues and expenses associated with the
businesses we acquire are not accurate, difficulties executing integration
strategies or achieving planned synergies, the possibility that integration
costs and go-forward costs associated with the businesses we acquire will be
higher than anticipated, our ability to successfully expand our sales channels
for new and existing products and services, our ability to increase the number
of businesses that purchase our advertising products, our ability to expand
our advertiser and distribution networks, our ability to integrate and
effectively utilize our acquisitions' technologies, our ability to develop our
products and sales, marketing, finance and administrative functions and
successfully integrate our expanded infrastructure, as well as our dependence
on major advertisers, competitive factors and pricing pressures, changes in
legal and regulatory requirements, and general economic conditions. Any
forward-looking statements reflect our current views with respect to future
events and are subject to these and other risks, uncertainties and assumptions
relating to our operations, results of operations, growth strategy and
liquidity. All subsequent written and oral forward-looking statements
attributable to us or persons acting on our behalf are expressly qualified in
their entirety by this paragraph. Unless otherwise stated, all site traffic
and usage statistics are from third-party service providers engaged by the

Our most recent Annual Report on Form 10-K and subsequently filed Current
Reports on Form 8-K, and other Securities and Exchange Commission filings
discuss the foregoing risks as well as other important risk factors that could
contribute to such differences or otherwise affect our business, results of
operations and financial condition. 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.


Investor Relations and Media Relations Contact:
Local Corporation
Cameron Triebwasser
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