Local.com Corp. (NASDAQ:LOCM) was one of the companies that took a dive in august after the Q2 reports. It still hasn’t fully recovered and has been trading close to the $2.2 level in recent weeks.
The report which brought LOCM down showed a really poor performance compared to the same period of 2010. Revenues were down to $15.5 million from $23 million and an $1.2 million net income had turned into a $5.4 million loss.
The report for Q3 didn’t look much better. Although revenues were up quarter over quarter, LOCM still recorded a $4 million net loss for the quarter. Results like these can hardly inspire confidence in shareholders.
The company issued a press release earlier today saying LOCM’s Heath Clarke, chairman and CEO, will present at the 14th Annual Needham Growth Conference. The conference will take place at the New York Palace Hotel in New York City, today.
So far LOCM is trading higher in this session, but unless the company manages to produce some better results soon, it may be difficult for the share price to go significantly higher in the near future.