Shares of search-engine operator Local.com (LOCM) are trading higher after the co. boosted its Q2 and full-fiscal-year 2010 financial forecast Wednesday.
The company said it now expects total revenue for the second quarter to be between $22.3 million and $22.8 million, with adjusted net income of 19 – 20 cents a share, or between $3.3 million and $3.5 million, excluding one-time items. Street consensus had been for $20.6 million and 17 cents.
For the full year, the company sees revenue of $87 million to $90 million, which at the midpoint represents a 57% increase over 2009.
“We continue to perform well across our business and remain disciplined in our strategy of focusing on high-growth, high-margin revenue streams within our three business units,” said Heath Clarke, Local.com chairman and CEO.
LOCM jumped $0.78, or 10.29%, to $8.25 at 3:19 E.T. in Nasdaq trading.