HENDERSON, NV / ACCESSWIRE / August 8, 2018 / LookSmart Group Inc. (www.looksmart.com and www.looksmart.net) (OTC PINK: LKST) filed its quarterly report on Tuesday, Aug 7, 2018. Revenues for the second quarter in 2018 were down to $703,000 from $1.58 million in the same period in 2017. Net loss for the quarter ending June 30, 2018 was $54,000, which equates to $0.95 per share. Earnings before Interest, Depreciation and Amortization for the Quarter was $7,000.
''In the second quarter of 2018, we encountered reduced demand from a couple of advertisers. We are looking to fix this and improve the operations for the second half of 2018,'' said Michael Onghai, CEO of LookSmart Group.
The LookSmart ad network operates in a large programmatic online advertising ecosystem serving ads that target user queries on partner sites.
In addition, Looksmart, under its ''Clickable'' and ''Syncapse'' brands, allows customers to manage paid, owned and earned media by providing a suite of solutions for social media marketers that include publishing, monitoring, data storage, compliance, management, ad placement and analytics. Under the ''Clickable'' brand, Clickable is the only platform we know of that can listen from and push to unlimited number of channels simultaneously. Multinational brands, fast food and car service franchise chains use our platform to manage the social media and ratings of thousands of their franchisees and corporate owned locations.
Forward-Looking Statements
This press release contains "forward-looking statements," including statements related to our expectations related to cost savings and the use of management time. Forward-looking statements may be identified by their use of terms such as "anticipate," "believe," "anticipate," "confident," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "will," and other similar terms. These statements are subject to significant risks and uncertainties, actual results and future events could differ materially from those projected, and we caution stockholders not to place undue reliance on the forward-looking statements contained in this press release. Risks and uncertainties exist related to the Company and its business due to a number of factors, including the statements under "Risk Factors" contained in our periodic reports filed with the SEC. Given these uncertainties, you should not place undue reliance on these forward-looking statements. We intend these forward-looking statements to speak only as of the date of this press release and undertake no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in our expectations, except as required by law.
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SOURCE: LookSmart Group Inc.