Good News, Bad News: LookSmart CFO Resigns, Company Ups Guidance


According to this SEC filing/press release (thanks Gary Price), LookSmart CFO and COO John Simonelli announced his intention to resign. LookSmart has been struggling for several years to regain respect and traction following the loss of the company’s deal with Microsoft/MSN, which sent it into something of a tailspin. Since that time the company has been slowly climbing back and trying to improve the quality of its paid search network and restore profitability.

Along those lines, CEO David Hills made an accompanying statement that the company will see an improved Q2 and raised guidance:

LookSmart also announced today that given added visibility into the second quarter which ends June 30, 2007, it preliminarily expects that its financial results will meet or exceed prior guidance provided to the market. For the second quarter, the Company now expects to report a total revenue increase of 25-27% year-over-year, an increase from its previously issued second quarter guidance of a total revenue increase of 20-25% year-over-year. Also, as previously guided, for the second quarter the Company continues to expect gross margins of 42%-43% and operating expenses to increase approximately 5% year-over-year.



Greg Sterling is a Contributing Editor at Search Engine Land, and writes a personal blog Screenwerk, examining the broader world of media and advertising. He also posts at a Local Mobile Search, which is focused on the mobile Internet.

See more articles by Greg Sterling >


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ONE COMMENT ON Good News, Bad News: LookSmart CFO Resigns, Company Ups Guidance

David,

Personally I’ve never understood why MSN Search, Windows Search, whatever, haven’t just bought the LookSmart name and branding intead of their own “iffy” branding for search.

I have a claim to fame with LookSmart. I fell over outside their offices in San Francisco (I was on crutches) and a nice employee came to pick me up - I forgot to “card” them.




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