Search engines and other e-retailers lose share as shoppers increasingly turn to Amazon for product searches, a Bloomreach survey finds.
LookSmart, a provider of online advertising technology and services, reported total revenue of $56.2 million in fiscal 2007, an increase of 15% compared with 2006.
LookSmart Ltd., a provider of online advertising technology and services, reported revenue of $56.2 million for the fiscal year ended Dec. 31, 2007, up by 15% compared with $48.7 million in 2006. Sales growth got an assist from an 11% increase in fourth quarter paid clicks
Net income for the year was $3.4 million compared with a loss of $13.7 million in the prior year.
Revenue growth from a strong fourth quarter contributed to LookSmart’s turnaround, led by improvements in its advertiser and publisher products, says Ted West, president and CEO. “In order to expand and diversify our advertiser base for organic growth in our ad network, we strengthened the sales organization, to bring new paid search customers and budgets to the network; we stepped up existing large account service to maximize budget utilization; and we improved traffic management to optimize search advertising results for advertisers on the network,” he says. “Our publisher solutions customers benefited from additional product offerings and enhancements to our ad center platform.”
For the fourth quarter of 2007, LookSmart reported revenue of $15.7 million, a 5.3% increase from $14.9 million in the fourth quarter of 2006, and a 24.6% increase from $12.6 million in the third quarter of 2007.
Fourth quarter highlights included an increase in total paid clicks to about 117 million, the company says, compared with approximately 105 million for the fourth quarter of 2006. Average revenue per click for Q4 of 2007 was about 12 cents, an increase from about 11 cents in the prior year quarter.