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ReachLocal 3Q loss expands, missing Street views

November 1, 2011

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WOODLAND HILLS, Calif.—Online marketing company ReachLocal Inc. said Tuesday that its third-quarter loss expanded from a year ago, partly due to a loss at its customer review and deal website Bizzy, which it now considers a discontinued operation.

The net loss in the three months to Sept. 30 came to $4.6 million, or 16 cents per share, compared to the loss of $2.9 million, or 10 cents per share, a year earlier. Bizzy accounted for $3.3 million of the loss.

Analysts had been expecting a loss of 5 cents a share, according to FactSet.

Revenue grew 28 percent to $98.6 million from $77.1 million, below the $101 million expected by analysts.

The company said it expects fourth-quarter revenue of $98.6 million to $100.6 million, below the $106 million forecast by analysts.

ReachLocal shares fell 87 cents, or 8 percent, to $9.50 in after-hours trading on Tuesday, after closing up 36 cents, or 3.6 percent, at $10.37 in the regular session.