LOOKSMART LTD
			Symbol			LOOK

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LookSmart Reports Third Quarter 2009 Results

2009-11-02 16:01 ET - News Release

SAN FRANCISCO, Nov. 2, 2009 (GLOBE NEWSWIRE) -- LookSmart, Ltd. (Nasdaq:LOOK), an online search advertising network solutions company, today announced financial results for the third quarter ended September 30, 2009.

Revenues for the third quarter of 2009 were $12.5 million, a 19% decrease from $15.4 million in the third quarter of 2008 and a 5% decrease from $13.2 million in the second quarter of 2009. Net loss for the third quarter of 2009 was $1.9 million, or ($0.11) per share based on 17.1 million weighted average shares outstanding. This is compared to a net loss for the third quarter of 2008 of $1.7 million, or ($0.10) per share based on 17.0 million weighted average shares outstanding. Net loss for the second quarter of 2009 was $1.3 million, or ($0.08) per share based on 17.1 million weighted average shares outstanding.

Loss from continuing operations for the third quarter of 2009 was $2.1 million, which includes $0.3 million of severance expense and $0.2 million of expenses related to the evaluation of strategic growth alternatives. This compares to a loss from continuing operations in the third quarter of 2008 of $1.7 million, which included $0.2 million of severance expense. Loss from continuing operations for the second quarter of 2009 was $1.4 million, which included a $0.2 million impairment charge, $0.2 million of severance expense and $0.2 million of expenses related to the evaluation of strategic growth alternatives.

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