ReachLocal Reports Third Quarter 2014 Results

Enters into Definitive Agreement to Acquire Kickserv, A Provider of Cloud-Based Business Management Software for Service Businesses

WOODLAND HILLS, Calif.--()--ReachLocal, Inc. (NASDAQ:RLOC), a leader in powering online marketing for local businesses, today reported financial results for the third quarter ended September 30, 2014.

“During the third quarter ReachLocal’s global team made significant progress in our ongoing efforts to revitalize the company. While that work has yet to be reflected in our financial results, we believe we are positioned for a return to growth in the second half of next year,” said Sharon Rowlands, chief executive officer. “We have injected a new sense of urgency in our global operations which is driving improvements in both our sales force and our products. We are also pleased to announce that we have entered into a definitive agreement to acquire Kickserv, a provider of cloud-based business management software for service businesses. In combination with ReachEdge, our industry leading marketing automation software, Kickserv will accelerate our progress towards our goal of offering an end-to-end software solution for our clients.”

Quarterly Results at a Glance*

(Table amounts in 000’s except key metrics and per share amounts)

  Q3 2014     Q3 2013    
Revenue $117,623 $132,813
Net Income (Loss) from Continuing Operations $(11,284) $650
Net Income (Loss) from Continuing Operations per Diluted Share $(0.40) $0.02
Net Loss $(11,284) $(1,122)
Net Loss per Diluted Share $(0.40) $(0.04)
Non-GAAP Net Income (Loss) $(8,981) $4,411
Non-GAAP Net Income (Loss) per Diluted Share $(0.31) $0.15
Adjusted EBITDA $(3,843) $9,423
Cash Flow from Continuing Operations $(5,767) $27,898
Cash Flow from Operating Activities $(7,169) $24,399
 

*The amounts reflect that ClubLocal operations were determined to be discontinued operations
during the fourth quarter of 2013. The definitions for Adjusted EBITDA and Non-GAAP Net
Income, as set forth in full below, exclude discontinued operations.

 
Q3 2014 Q3 2013 % Change

Revenue by Channel:

Direct Local Revenue $91,914 $105,873 (13)%
National Brands, Agencies and Resellers (NBAR) Revenue $25,709 $26,940 (5)%
 

Revenue by Geography:

North America $71,280 $88,167 (19)%
International Revenue $46,343 $44,646 4%
 

Key Metrics (at Period End)

Active Clients 21,900 24,600 (11)%
Active Product Units 33,200 36,400 (9)%

Business Outlook

ReachLocal’s outlook reflects management’s best current view of the business, and takes in to account the typical seasonal weakness associated with the fourth quarter. The outlook calls for:

  • Revenue in the range of $108 to $113 million.
  • Adjusted EBITDA loss in the range of $7 to $10 million.

Conference Call and Webcast Information

The ReachLocal third quarter 2014 teleconference and webcast is scheduled to begin at 2:00 p.m., Pacific Time on Tuesday, November 4, 2014. To participate on the live call, analysts and investors should dial 1-888-438-5453, or outside the U.S. 1-719-325-2315, at least ten minutes prior to the call. ReachLocal will also offer a live and archived webcast of the conference call, accessible from the “Investors” section of the Company’s Web site at www.reachlocal.com.

Use of Non-GAAP Measures

ReachLocal management evaluates and makes operating decisions using various financial and operational metrics. In addition to the Company’s GAAP results, management also considers non-GAAP measures of non-GAAP net income (loss), non-GAAP net income (loss) per share, and Adjusted EBITDA. Management believes that these non-GAAP measures provide useful information about the Company's core operating results and thus are appropriate to enhance the overall understanding of the Company's past financial performance and its prospects for the future. The attached tables provide a reconciliation of these non-GAAP financial measures with the most directly comparable GAAP financial measures. Management also tracks and reports Active Clients and Active Product Units, as management believes that these metrics are important gauges of the progress of the Company’s performance.

The non-GAAP net income is defined as net income (loss) from continuing operations before (a) stock-based compensation related expense (including the related adjustment to amortization of capitalized software development costs) and (b) acquisition related costs. Adjusted EBITDA is defined as net income (loss) from continuing operations before interest, income taxes, depreciation and amortization expenses, excluding, when applicable, stock-based compensation, the effects of accounting for business combinations (including any impairment of acquired intangibles and, in the case of the acquisition of SMB:LIVE, the deferred cash consideration), restructuring charges, and other non-operating income or expense.

Acquisition Related Costs: Acquisition related costs, including the amortization and any impairment of acquired intangibles and the deferred cash consideration for the SMB:LIVE acquisition, are excluded from the non-GAAP operating results as these are non-recurring charges which the Company would not have incurred as part of continuing operations.

Each of these non-GAAP measures, while having utility, also has limitations as an analytical tool, and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Some of these limitations are:

  • Adjusted EBITDA does not reflect the Company’s cash expenditures for capital equipment or other contractual commitments;
  • Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect capital expenditure requirements for such replacements;
  • Adjusted EBITDA does not reflect changes in, or cash requirements for, the Company’s working capital needs;
  • Adjusted EBITDA and non-GAAP net income (loss) do not consider the potentially dilutive impact of issuing equity-based compensation to the Company’s management and other employees;
  • Adjusted EBITDA does not reflect the potentially significant interest expense or the cash requirements necessary to service interest or principal payments on indebtedness that the Company may incur in the future;
  • Adjusted EBITDA does not reflect income and expense items that relate to the Company’s financing and investing activities, any of which could significantly affect the Company’s results of operations or be a significant use of cash;
  • Adjusted EBITDA and non-GAAP net income (loss) do not reflect costs or expenses associated with accounting for business combinations;
  • Adjusted EBITDA does not reflect certain tax payments that may represent a reduction in cash available to the Company; and
  • Other companies, including companies in the same industry, calculate Adjusted EBITDA and non-GAAP net income (loss) measures differently, which reduces their usefulness as a comparative measure.

Adjusted EBITDA is not intended to replace operating income (loss), net income (loss) and other measures of financial performance reported in accordance with GAAP. Rather, Adjusted EBITDA is a measure of operating performance that may be considered in addition to those measures. Because of these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to the Company to invest in the growth of the business.

Active Clients is a number the Company calculates to approximate the number of clients directly served through our Direct Local channel as well as clients served through our National Brands, Agencies and Resellers channel. We calculate Active Clients by adjusting the number of Active Product Units to combine clients with more than one Active Product Unit as a single Active Client. Clients with more than one location are generally reflected as multiple Active Clients. Because this number includes clients served through the National Brands, Agencies and Resellers channel, Active Clients includes entities with which we do not have a direct client relationship. Numbers are rounded to the nearest hundred.

Active Product Units is a number we calculate to approximate the number of individual products, licenses or services we are providing to Active Clients. For example, if we were performing both ReachSearch and ReachDisplay campaigns for a client who also licenses ReachEdge, we consider that three Active Product Units. Similarly, if a client purchases ReachSearch campaigns for two different products or purposes, we consider that two Active Product Units. Numbers are rounded to the nearest hundred.

Caution Concerning Forward-Looking Statements

Statements in this press release regarding the Company’s outlook for future periods and the quotes from management constitute “forward-looking” statements within the meaning of the Securities Exchange Act of 1934. These statements reflect the Company’s current views about future events and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievement to materially differ from those expressed or implied by the forward-looking statements. Actual events or results could differ materially from those expressed or implied by these forward-looking statements as a result of various factors, including: (i) the Company’s ability to rectify the challenges associated with its recent North American sales realignment; (ii) the Company’s abilily to obtain the cost savings contemplated by its recent restructuring; (iii) the Company’s ability to purchase media and receive rebates from Google, Yahoo! and Microsoft under commercially reasonable terms; (iv) the Company’s ability to recruit, train and retain its salespeople; (v) the Company’s ability to attract and retain customers and compete with a wide range of competitors on both price and product offering; (vi) the Company’s ability to successfully enter new markets and manage its international expansion; (vii) the Company’s ability to successfully develop and offer new products and services in the highly competitive online advertising industry; (viii) the impact of worldwide economic conditions, including the resulting effect on advertising budgets; and (ix) the Company’s ability to comply with government regulation affecting our business, including regulations or policies governing consumer privacy. More information about these factors and other potential factors that could affect the Company's business and financial results is contained in its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.

About ReachLocal, Inc.

ReachLocal, Inc. (NASDAQ: RLOC) helps local businesses grow and operate their business better with leading technology and expert service for our clients' lead generation and conversion. ReachLocal is headquartered in Woodland Hills, Calif. and operates in four regions: Asia-Pacific, Europe, Latin America and North America.

For more information please visit ReachLocal at www.reachlocal.com, follow us at www.reachlocal.com/social or email info@reachlocal.com.

 
REACHLOCAL, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
 
September 30, December 31,
2014 2013
Assets
Current Assets:
Cash and cash equivalents $ 51,717 $ 77,514
Short-term investments 259 260
Accounts receivable, net 8,353 9,699
Prepaid expenses and other current assets 6,625 8,746
Deferred tax assets 1,893 1,250
Assets of discontinued operations   224     3,415  
Total current assets 69,071 100,884
 
Property and equipment, net 17,315 12,903
Capitalized software development costs, net 20,972 17,300
Restricted deposits 3,830 3,654
Deferred tax assets 2,560 1,883
Intangible assets, net 1,554 1,270
Other assets 13,409 6,032
Goodwill   44,198     42,083  
Total assets $ 172,909   $ 186,009  
 
Liabilities and Stockholders’ Equity
Current Liabilities:
Accounts payable $ 34,399 $ 36,970
Accrued compensation and benefits 16,896 17,280
Deferred revenue 31,058 33,013
Accrued restructuring 2,767 -
Other current liabilities 14,068 15,089
Liabilities of discontinued operations   868     1,324  
Total current liabilities 100,056 103,676
Deferred rent and other liabilities   5,780     3,965  
Total liabilities   105,836     107,641  
 
Stockholders’ Equity:
Common stock - -
Receivable from stockholder (71 ) (73 )
Additional paid-in capital 128,232 111,934
Accumulated deficit (57,111 ) (29,559 )
Accumulated other comprehensive loss   (3,977 )   (3,934 )
Total stockholders’ equity   67,073     78,368  
Total liabilities and stockholders’ equity $ 172,909   $ 186,009  
     
REACHLOCAL, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
 
Three Months Ended Nine Months Ended
September 30, September 30,
  2014     2013     2014     2013  
Revenue $ 117,623 $ 132,813 $ 365,912 $ 381,177
Cost of revenue 64,154 66,083 191,013 190,788
Operating expenses:
Selling and marketing 45,479 47,291 140,386 136,021
Product and technology 6,746 5,582 20,521 16,728
General and administrative 12,183 11,282 40,877 30,405
Restructuring charges   518     -     4,567     -  
Total operating expenses   64,926     64,155     206,351     183,154  
 
Operating income (loss) (11,457 ) 2,575 (31,452 ) 7,235
Other income, net   208     181     591     522  
Income (loss) from continuing operations before income taxes (11,249 ) 2,756 (30,861 ) 7,757
Income tax provision (benefit)   35     2,106     (2,938 )   5,434  
Income (loss) from continuing operations (11,284 ) 650 (27,923 ) 2,323
Gain (loss) from discontinued operations (including gain on disposal of $1,201 for the nine months ended September 30, 2014) - (2,448 ) 593 (6,408 )
Income tax provision (benefit)   -     (676 )   222     (2,187 )
Net loss $ (11,284 ) $ (1,122 ) $ (27,552 ) $ (1,898 )
 
Net income (loss) per share:
Basic:
Income (loss) from continuing operations $ (0.40 ) $ 0.02 $ (0.98 ) $ 0.08
Income (loss) from discontinued operations, net of income taxes   -     (0.06 )   0.01     (0.15 )
Net loss per share $ (0.40 ) $ (0.04 ) $ (0.97 ) $ (0.07 )
 
Diluted:
Income (loss) from continuing operations $ (0.40 ) $ 0.02 $ (0.98 ) $ 0.08
Income (loss) from discontinued operations, net of income taxes   -     (0.06 )   0.01     (0.15 )
Net loss per share $ (0.40 ) $ (0.04 ) $ (0.97 ) $ (0.07 )
 
Weighted average common shares used in the computation of income (loss) per share:
Basic 28,515 27,507 28,360 27,843
Diluted 28,515 28,652 28,360 29,303
 
             
Stock-based compensation, net of capitalization, and depreciation and amortization included in above line items:
 
Stock-based compensation:
Cost of revenue $ 205 $ 171 $ 735 $ 442
Selling and marketing 616 720 2,352 2,214
Product and technology - 165 608 427
General and administrative   1,850     2,084     7,023     5,118  
$ 2,671   $ 3,140   $ 10,718   $ 8,201  
 
Depreciation and amortization:
Cost of revenue $ 161 $ 181 $ 507 $ 579
Selling and marketing 746 651 2,055 2,300
Product and technology 2,938 2,553 8,546 7,742
General and administrative   510     323     1,487     753  
$ 4,355   $ 3,708   $ 12,595   $ 11,374  
 
REACHLOCAL, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, except per share data)
Nine Months Ended September 30,
     
  2014     2013  
Cash flows from operating activities:
Income (loss) from continuing operations $ (27,923 ) $ 2,323

Adjustments to reconcile income (loss) from continuing operations to net cash

provided by operating activities:

Depreciation and amortization 12,595 11,374
Stock-based compensation 10,718 8,201
Restructuring charges 4,567 -
Excess tax shortfalls (benefits) from stock-based awards 1,185 (1,127 )
Provision for doubtful accounts 1,568 513
Non-cash interest income, net (243 ) -
Deferred taxes, net (1,325 ) -
Foreign currency unrealized loss, net 110 -
Changes in operating assets and liabilities:
Accounts receivable (728 ) (4,908 )
Prepaid expenses and other current assets 2,049 (5,163 )
Other assets (1,175 ) (2,732 )
Accounts payable (3,075 ) 12,798
Accrued compensation and benefits (119 ) 2,243
Deferred revenue (1,938 ) 2,811
Accrued restructuring (1,620 ) -
Deferred rent and other liabilities   (413 )   1,565  
Net cash provided by (used in) operating activities, continuing operations (5,767 ) 27,898
Net cash used in operating activities, discontinued operations   (1,402 )   (3,499 )
Net cash provided by (used in) operating activities   (7,169 )   24,399  
 
Cash flows from investing activities:
Additions to property, equipment and software (18,987 ) (13,900 )
Acquisitions, net of acquired cash (1,789 ) (363 )
Investment in partnership (2,000 ) (2,500 )
Purchases of certificates of deposit and short-term investments (85 ) (2,891 )
Maturities of certificates of deposits and short-term investments   -     2,566  
Net cash used in investing activities, continuing operations (22,861 ) (17,088 )
Net cash used in investing activities, discontinued operations   -     (2,275 )
Net cash used in investing activities   (22,861 )   (19,363 )
 
Cash flows from financing activities:
Proceeds from exercise of stock options 6,438 5,333
Excess tax benefits (shortfalls) from stock-based awards (1,185 ) 1,127
Common stock repurchases (66 ) (18,904 )
Principal payments on capital lease obligations   (65 )   -  
Net cash provided by (used in) financing activities   5,122     (12,444 )
 
Effect of exchange rate changes on cash and cash equivalents   (889 )   (2,282 )
 
Net change in cash and cash equivalents (25,797 ) (9,690 )
Cash and cash equivalents—beginning of period   77,514     92,320  
Cash and cash equivalents—end of period $ 51,717   $ 82,630  
     
REACHLOCAL, INC.
Reconciliation of Adjusted EBITDA to Operating Income (Loss)
(in thousands)
 
Three Months Ended Nine Months Ended
September 30, September 30,
  2014     2013   2014     2013
 
Operating income (loss) $ (11,457 ) $ 2,575 $ (31,452 ) $ 7,235
Add:
Depreciation and amortization 4,355 3,708 12,595 11,374
Stock-based compensation 2,671 3,140 10,718 8,201
Acquisition and integration costs 70 - 86 -
Restructuring charges   518     -   4,567     -
Adjusted EBITDA (1) $ (3,843 ) $ 9,423 $ (3,486 ) $ 26,810
             
REACHLOCAL, Inc.
Reconciliation of GAAP to Non-GAAP Operating Results for Three Months Ended September 30, 2014 and 2013
(in thousands, except per share amounts)
 
 
Three Months Ended September 30, 2014     Three Months Ended September 30, 2013    
Adjustments: Adjustments:
Stock-based Stock-based
GAAP Compensation Acquisition Restructuring Non-GAAP GAAP Compensation Acquisition Restructuring Non-GAAP
Operating Results Related Related Related Operating Operating Results Related Related Related Operating
"As Reported" Expense (2)   Costs (3)   Costs (4)   Results "As Reported" Expense (2)   Costs (3)   Costs (4)   Results
Revenue $ 117,623 - - - $ 117,623 $ 132,813 - - - $ 132,813
Cost of revenue 64,154 (205 ) - - 63,949 66,083 (171 ) - - 65,912
Operating expenses:
Sales and marketing 45,479 (616 ) - - 44,863 47,291 (720 ) - - 46,571
Product and technology 6,746 (92 ) (212 ) - 6,442 5,582 (375 ) (259 ) - 4,948
General and administrative 12,183 (1,850 ) (192 ) - 10,141 11,282 (2,084 ) - - 9,198
Restructuring charges   518   -     -     (518 )     -     - -     -     -     -
Total operating expenses   64,926   (2,558 )   (404 )   (518 )     61,446     64,155 (3,179 )   (259 )   -     60,717
Operating income (loss) (11,457 ) 2,763 404 518 (7,772 ) 2,575 3,350 259 - 6,184
Other income, net   208   -     -     -       208     181 -     -     -     181
Income (loss) from continuing operations before income taxes (11,249 ) 2,763 404 518 (7,564 ) 2,756 3,350 259 - 6,365
Income tax provision (benefit) (6)   35   1,036     151     195       1,417     2,106 -     (152 )   -     1,954
Income (loss) from continuing operations $ (11,284 ) 1,727     253     323     $ (8,981 ) $ 650 3,350     411     -   $ 4,411
 
Net income (loss) per share
Basic income (loss) per share $ (0.40 ) $ (0.31 ) $ 0.02 $ 0.16
Diluted income (loss) per share $ (0.40 ) $ (0.31 ) $ 0.02 $ 0.15
 
Weighted average shares outstanding
Basic 28,515 28,515 27,507 27,507
Diluted 28,515 28,515 28,652 28,652
                   
REACHLOCAL, Inc.
Reconciliation of GAAP to Non-GAAP Operating Results for Nine Months Ended September 30, 2014 and 2013
(in thousands, except per share amounts)
 
 
Nine Months Ended September 30, 2014 Nine Months Ended September 30, 2013
Adjustments: Adjustments:
Stock-based Stock-based
GAAP Compensation Acquisition Restructuring Non-GAAP GAAP Compensation Acquisition Restructuring Non-GAAP
Operating Results Related Related Related Operating Operating Results Related Related Related Operating
"As Reported"   Expense (2)   Costs (3)   Costs (4)   Results "As Reported"   Expense (2)   Costs (3)   Costs (4)   Results
Revenue $ 365,912 - - - $ 365,912 $ 381,177 - - - $ 381,177
Cost of revenue 191,013 (735 ) - - 190,278 190,788 (442 ) (21 ) - 190,325
Operating expenses:
Sales and marketing 140,386 (2,352 ) - - 138,034 136,021 (2,214 ) - - 133,807
Product and technology 20,521 (923 ) (656 ) - 18,942 16,728 (1,259 ) (908 ) - 14,561
General and administrative 40,877 (7,023 ) (329 ) - 33,525 30,405 (5,118 ) - - 25,287
Restructuring charges   4,567     -     -     (4,567 )     -     -   -     -     -     -
Total operating expenses   206,351     (10,298 )   (985 )   (4,567 )     190,501     183,154   (8,591 )   (908 )   -     173,655
Operating income (loss) (31,452 ) 11,033 985 4,567 (14,867 ) 7,235 9,033 929 - 17,197
Other income, net   591     -     -     -       591     522   -     -     -     522
Income (loss) from continuing operations before income taxes (30,861 ) 11,033 985 4,567 (14,276 ) 7,757 9,033 929 - 17,719
Income tax provision (benefit) (6)   (2,938 )   4,137     369     1,713       3,281     5,434   -     (141 )   -     5,293
Income (loss) from continuing operations $ (27,923 )   6,896     616     2,854     $ (17,557 ) $ 2,323   9,033     1,070     -   $ 12,426
 
Net income (loss) per share
Basic income (loss) per share $ (0.98 ) $ (0.62 ) $ 0.08 $ 0.45
Diluted income (loss) per share $ (0.98 ) $ (0.62 ) $ 0.08 $ 0.42
 
Weighted average shares outstanding
Basic 28,360 28,360 27,843 27,843
Diluted 28,360 28,360 29,303 29,303
     
REACHLOCAL, INC.
Reconciliation of GAAP to Constant Currency Revenue
(in thousands)
 
Three Months Ended Nine Months Ended
September 30, September 30,
  2014     2013     2014     2013  
North American GAAP Revenue $ 71,280 $ 88,167 $ 225,336 $ 257,095
Constant Currency Adjustment   166     -     735     -  
North American Revenue at Constant Currency (5) $ 71,446   $ 88,167   $ 226,071   $ 257,095  
 
As Reported Growth Rates (19.2 %) 4.9 % (12.4 %) 5.7 %
Constant Currency Growth Rates (19.0 %) 5.1 % (12.1 %) 5.8 %
 
International GAAP Revenue 46,343 $ 44,646 $ 140,576 $ 124,082
Constant Currency Adjustment   (766 )   -     1,836     -  
International Revenue at Constant Currency (5) $ 45,577   $ 44,646   $ 142,412   $ 124,082  
 
As Reported Growth Rates 3.8 % 28.7 % 13.3 % 35.3 %
Constant Currency Growth Rates 2.1 % 38.3 % 14.8 % 40.4 %
 
Consolidated GAAP Revenue $ 117,623 $ 132,813 $ 365,912 $ 381,177
Constant Currency Adjustment   (600 )   -     2,571     -  
Consolidated Revenue at Constant Currency (5) $ 117,023   $ 132,813   $ 368,483   $ 381,177  
 
As Reported Growth Rates (11.4 %) 11.9 % (4.0 %) 13.8 %
Constant Currency Growth Rates (11.9 %) 14.3 % (3.3 %) 15.0 %
Footnotes
 
(1) Adjusted EBITDA is defined as net income (loss) from continuing operations before interest, income taxes, depreciation and amortization expenses, excluding, when applicable, stock-based compensation, the effects of accounting for business combinations (including any impairment of acquired intangibles and, in the case of the acquisition of SMB:LIVE, the deferred cash consideration), restructuring charges, and other non-operating income or expense.
 
(2) Stock-based Compensation Related Expense: Includes stock-based compensation expense and the related adjustment to amortization of capitalized software development costs.
 
(3) Acquisition Related Costs, including the amortization and any impairment of acquired intangibles, are excluded from the non-GAAP operating results as these are non-recurring charges which the Company would not have incurred as part of continuing operations.
 
(4) Restructuring Related Costs are excluded from the non-GAAP operating results as these are non-recurring charges with the Company would not have incurred as part of continuing operations.
 
(5) Constant currency revenues are determined by recalculating net revenues denominated in currencies other than U.S. Dollars in the current fiscal period using average exchange rates for that particular currency during the corresponding financial period of the prior year. The company uses this non-GAAP measure to evaluate performance on a comparable basis excluding the impact of foreign currency fluctuations. Where constant currency revenue is presented for a period longer than one fiscal quarter, it is computed as the sum of the amount separately calculated for each quarter during that period.
 
(6) The income tax provision (benefit) for the Non-GAAP adjustments is estimated using the effective statutory rate for those jurisdictions.

Contacts

The Blueshirt Group
Investor Relations:
Alex Wellins, 415-217-5861
alex@blueshirtgroup.com
or
Media Contact:
Amber Seikaly,214-294-0242
Vice President Corporate Communications
amber.seikaly@reachlocal.com

Contacts

The Blueshirt Group
Investor Relations:
Alex Wellins, 415-217-5861
alex@blueshirtgroup.com
or
Media Contact:
Amber Seikaly,214-294-0242
Vice President Corporate Communications
amber.seikaly@reachlocal.com