ReachLocal Meets Street Expectations

ReachLocal Inc. met analyst expectations in the first quarter, based on results announced Tuesday. The Woodland Hills Internet marketing company reported a net loss of $6.2 million (-21 cents a share) for the quarter ended March 31, compared to a loss of $12.8 million (-44 cents) for the same quarter a year ago. Revenue declined 21 percent to $78.7 million. Analysts on average expected a loss of 21 cents a share on revenue of $77.7 million, according to Thomson Financial Network. The company issued second-quarter guidance of revenue in the range of $79 million to $81 million. “ReachLocal continues to make measurable progress building and sustaining a profitable business model,” Chief Executive Sharon Rowlands said in a statement. “Our second quarter guidance indicates that we believe we are making progress towards revenue growth and we are also encouraged by our continued product-line expansion, which we expect to provide us with strong cross-selling opportunities moving forward.” The company released earnings after market close Tuesday. Shares closed down 3 cents, or 1.7 percent, to $1.73 on the Nasdaq. In early after-hours trading, shares were up 22 cents, or nearly 13 percent, to $1.95.