Dismal Fourth Quarter results for the Online Search Advertising Company

LookSmart Ltd posts dismal fourth quarter revenues compared to its earnings in the prior year. LookSmart trades on the “NASDAQ” under the stock symbol, “LOOK”. For the Latest information regarding “LOOK”, make sure to visit the Most Exclusive and In Depth newsletter website at:   http://www.wallstreetgrand.com/.

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LookSmart, Ltd. (NASDAQ:LOOK), an online search advertising network solutions company, today announced financial results for the fourth quarter ended December 31, 2009.

Revenues for the fourth quarter of 2009 were $12.8 million, compared to $14.9 million in the fourth quarter of 2008 and a 2% increase from $12.5 million in the third quarter of 2009. Net loss for the fourth quarter of 2009 was $0.9 million, or ($0.05) per diluted share. This compares to a net loss for the fourth quarter of 2008 of $12.4 million, or ($0.73) per diluted share. Included in fourth quarter 2008 net loss is a non-cash impairment charge of $9.8 million, a $1.0 million asset impairment charge related to the decision to wind down Furl and a $0.6 million legal settlement charge. Net loss for the third quarter of 2009 was $1.9 million, or ($0.11) per diluted share.

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