For those interested:LooksmartLooksmart has released its March...

For those interested:

Looksmart
Looksmart has released its March quarter result. Revenue was up 67% on the previous
corresponding period to US$34m and earnings before interest, tax, depreciation and
amortisation (EBITDA) of US$4m was up 45% on the previous corresponding period.
However, while strong revenue growth is in line with expectations, increased product
development costs as well as unforeseen expenses have seen management revise down its
EBITDA guidance for the full year. It is now expecting EBITDA of $13m for 2003 versus
previous guidance of US$22m to US$25m.
Looksmart’s risk profile fell materially over 2002. However, as the March quarter result shows,
it still faces industry risks over the short to medium term as (larger and well funded)
competitors move into the potentially lucrative sector to compete more directly against
Looksmart.
The company’s price will remain under pressure in the short term until investors gain some
level of comfort regarding the long term margin outlook for companies like Looksmart in what
is still an evolving industry.
ASX Code:
LOK
Share Price:
$0.21
Short term:
Hold
Long term:
Hold
Volatility index:
Very High