Local.com(R) Ranked Third Fastest Growing Local Advertising Company in North America
LOCM | Quote | Chart | News | PowerRating -- Local.com
Corporation (NASDAQ:LOCM), a leading local search site and network,
today announced that local online search research company Borrell
Associates recently named Local.com one of the Top 3 fastest-growing
local online advertising companies in North America. The company was
also ranked 2009's fifth fastest-growing public company by the Orange
County Business Journal.
"This is a remarkable feat in a year when ad sales are phenomenally
depressed," said Gordon Borrell, leading industry analyst and CEO of
Borrell Associates, authors of the report titled 2010 Outlook: Local
Interactive Advertising. "Internet advertising is down, but not for
Local.com. They are aggressively mining the lucrative new frontier of
local."
In its October 6 issue, the Orange County Business Journal reported that
Local.com is the fifth fastest-growing public company in the county.
"Many people believe that local advertising is one of the largest
untapped markets for online media," said Jeff Rath, managing director of
technology equity research at Canaccord Adams Inc. in Boston. "Local.com
is growing very quickly as more people are searching for local merchants
and those merchants are moving more of their ad budgets online."
Local.com recently posted record revenue of $15.1 million for the third
quarter 2009, which represents year-over-year growth of 48% from the
third quarter 2008. The company also reached record traffic for the
third quarter 2009 with 66 million monthly unique visitors (MUVs) on the
Local.com site and network, up 22% from 54 million MUVs for the third
quarter of 2008.
"Businesses are transitioning more of their advertising spend from a
variety of print media to online media because of their return on ad
spend," said Heath Clarke, Local.com chairman and CEO. "We believe
Local.com is well positioned to provide small businesses with an
efficient way to reach new consumers on their computers and mobile
devices, and to capture a growing portion of the local online
advertising market."
About Local.com(R)
Local.com (NASDAQ: LOCM | Quote | Chart | News | PowerRating) owns and operates a leading local search site
and private label network in the United States. The company uses
patented technologies to provide over 20 million consumers each month
with the most relevant search results for local businesses, products and
services on Local.com and over 700 regional media sites. Businesses can
target ready-to-purchase consumers using a variety of advertising
products. To advertise, or for more information visit: www.local.com.
SOURCE: Local.com
Media and Investor Relations Contact:
Local.com
Cameron Triebwasser, 949-789-5223
ctriebwasser@local.com
For full details on Local.Com Corp (LOCM) LOCM. Local.Com Corp (LOCM) has Short Term PowerRatings at TradingMarkets. Details on Local.Com Corp (LOCM) Short Term PowerRatings is available at This Link.
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