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July 29, 2003

LookSmart released it's second quarter numbers at the close of business today.
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Highlights:

Revenue Grows 83%: LookSmart reported second quarter 2003 revenue of $38.4 million, representing an 83% increase from the second quarter 2002.

Paid Clicks Rise 141%: During the second quarter paid clicks grew to 210 million, up 141% from the second quarter 2002.

Distribution Costs Unchanged: LookSmart's average distribution costs were 53%, unchanged from the prior quarter. Distribution costs are expressed as a percentage of revenue.

"LookSmart's leadership in the paid inclusion sector drove revenues and profits above our expectations," said Jason Kellerman, LookSmart's chief executive officer.

The Company is raising its full year 2003 revenue and earnings guidance. LookSmart expects to report revenue in the range of $147 million to $152 million and modified EBITDA in the range of $14 million to $15 million.

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I'm not a financial analyst, but the numbers released by Looksmart look very good. Increased growth in revenue while maintaining distribution costs. They are predicting similar strong results in the 3rd quarter and have raised revenue guidance for the year. If they can work on other partnership deals (such as the one with Lycos), they should show some great numbers.

Andy Beal | permalink | +marktd |

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