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8-K - FORM 8-K - LOCAL Corp | a58266e8vk.htm |
EX-10.1 - EX-10.1 - LOCAL Corp | a58266exv10w1.htm |
Exhibit 99.1
For Immediate Release
Local.com® Appoints Ken Cragun as CFO
IRVINE, CA, December 29, 2010 Local.com Corporation (NASDAQ: LOCM), a leading local search
site and network, today announced that Ken Cragun has been appointed chief financial officer,
effective immediately. Cragun has served as the companys interim CFO since October 2010.
Prior to being named interim CFO, Cragun served as the companys vice president of finance since
April of 2009. Previously, Cragun served as chief financial officer of Modtech Holdings, Inc., a
supplier of modular buildings, from June 2006 to March 2009. Prior to that time, Cragun held
several positions with MIVA, Inc., an online advertising and media company, including senior vice
president of finance. Cragun also held CFO positions at ImproveNet, Inc. and NetCharge.com Inc.
Our board and executive team have been impressed by Kens performance as an interim CFO. Ken has
deep knowledge of our business and industry, and it is only fitting that we warmly welcome Ken into
this permanent role, said Heath Clarke, Local.com chairman and CEO.
About Local.com®
Local.com Corporation (NASDAQ: LOCM) owns and operates a leading local search site and network
in the United States. The company uses patented and proprietary technologies to provide over 20
million consumers each month with relevant search results for local businesses, products and
services on Local.com and over 1,000 partner sites. Local.com powers over 100,000 local websites,
and tens of thousands of small business customers use Local.com products and services to reach
consumers using a variety of subscription, performance and display advertising and website
products. To advertise, or for more information visit: www.local.com.
Forward Looking Statements
All statements other than statements of historical fact included in this document regarding our
anticipated financial position, business strategy and plans and objectives of our management for
future operations, are forward-looking statements. When used in this report, words such as
anticipate, believe, estimate, plans, expect, intend, projects, feel and similar
expressions and phrases, as they relate to Local.com or our management, identify forward-looking
statements. Any forward-looking statements are based on the beliefs of our management as well as
assumptions made by and information currently available to our management. Actual results could
differ materially from those contemplated by the forward-looking statements as a result of certain
factors, including, but not limited to, our ability to monetize the Local.com domain, our ability
to incorporate our local-search technologies, our ability to market the Local.com domain as a
destination for consumers seeking local-search results, our ability to grow our business by
enhancing our local-search services, including through businesses we acquire, the possibility that
the information and estimates used to predict anticipated revenues and expenses associated with the
businesses we acquire are not accurate, difficulties executing integration strategies or achieving
planned synergies, the possibility that integration costs and go-forward costs associated with the
businesses we acquire will be higher than anticipated, our ability to increase the number of
businesses that purchase our
subscription advertising and other business products, our ability to expand our advertiser and
distribution networks, our ability to integrate and effectively utilize our acquisitions
technologies, our ability to develop our products and sales, marketing, finance and administrative
functions and successfully integrate our expanded infrastructure, as well as our dependence on
major advertisers, competitive factors and pricing pressures, changes in legal and regulatory
requirements, and general economic conditions. Any forward-looking statements reflect our current
views with respect to future events and are subject to these and other risks, uncertainties and
assumptions relating to our operations, results of operations, growth strategy and liquidity. All
subsequent written and oral forward-looking statements attributable to us or persons acting on our
behalf are expressly qualified in their entirety by this paragraph. Unless otherwise stated, all
site traffic and usage statistics are from third-party service providers engaged by the company.
Our Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports
on Form 8-K, and other Securities and Exchange Commission filings discuss the foregoing risks as
well as other important risk factors that could contribute to such differences or otherwise affect
our business, results of operations and financial condition. The forward-looking statements in this
release speak only as of the date they are made. We undertake no obligation to revise or update
publicly any forward-looking statement for any reason.
# # #
Investor Relations Contact:
Brinlea C. Johnson
The Blueshirt Group
212-551-1453
brinlea@blueshirtgroup.com
The Blueshirt Group
212-551-1453
brinlea@blueshirtgroup.com
Media Relations Contact:
Cameron Triebwasser
Local.com
949-789-5223
ctriebwasser@local.com
Local.com
949-789-5223
ctriebwasser@local.com