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November 4, 2010

InfoSpace Q3 revenue up 14%

Expects Q4 revenues to be in range of $57m and $60m

By CBR Staff Writer

InfoSpace, a provider of metasearch technology, has reported revenues of $62m for the third quarter of 2010, an increase of 14% compared to $54.3m for the same period last year.

Service revenues decreased 6% to $51m from $54.3m, while product revenues were $11.2m in the third quarter of 2010.

The company has posted gross profit of $23m, compared to $18m for the same quarter last year.

For the third quarter ended 30 September 2010, the company posted a net loss of $0.1m, compared to net income of $1.8m, or $0.05 earnings per share for the third quarter of 2009.

InfoSpace president and CEO Will Lansing said the company’s core search business continues to consistently generate significant cash flow, and they remain focused on maximising the value of that business.

"Additionally, our recently acquired e-commerce business delivered strong revenue growth this quarter and moving forward, we are committed to our strategy of investing in both businesses for long-term growth, as well as pursuing strategic opportunities to increase shareholder value," Lansing said.

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The company expects revenues to be in the range of $57m and $60m, and net loss to be in the range of $1m and $0.03m for the fourth quarter of 2010.

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