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LookSmart Group Inc. (LKST) Reports Results for the Third Quarter of 2016


HENDERSON, Nev., Nov. 23, 2016 /PRNewswire/ -- LookSmart Group Inc. (OTC-PINK: LKST) filed a 10-Q on Monday, November 21, 2016. For the quarter ended September 30, 2016, revenues rose 70% from the same quarter last year of $1,110,928 to $1,885,884. Net Loss for the quarter was $206,000 and EBITDA for the quarter was positive $16,791.

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For the first time since 2011, LookSmart (LKST) achieved its first EBITDA positive quarter and LookSmart was cash flow positive for each month of July, August and September.

We took over as new management in January 2013. I am very proud that our team has delivered an EBITDA positive quarter.

We have an excellent team but the industry conditions remain challenging. Hence, we must remain vigilant to keep our costs low and allocate our available resources wisely to make our business stronger.

"As one of the earliest Internet companies to go public in the 1990s, LookSmart (LKST) has a long history and share of mind. We continue to look for ways to apply innovation and examine opportunities to partner with other technology companies to capitalize on our storied brand," said Mike Onghai, CEO of LookSmart Group Inc.

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SOURCE LookSmart Group Inc.

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