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Exhibit 99.1
 
 For Immediate Release
 Local.com Reports Fourth Quarter,
Full Year 2007 Financial Results and 2008 Outlook
 NASDAQ: LOCM
  Q4 Financial Results and Highlights:
 
    
    Revenue Fourth quarter of 2007 revenue of $5.9 million was at the high end of
guidance. This represented growth of 64% over the fourth quarter 2006 and growth of 6%
over the third quarter 2007.
    
    Net Loss Fourth quarter of 2007 net loss was $2.7 million and included non-cash
expenses of $1.1 million or $0.08 per share, Basic and diluted net loss per share was
$0.19.The non-cash expenses of $1.1 million consisted of depreciation and amortization
($594,000); and stock based compensation ($541,000).
    
    Increased Monetization Revenue per thousand visitors (RKV) was $197, up
114% from $92 in the fourth quarter of 2006 and up 17% from $168 RKV in the third quarter
of 2007.
    
    Implemented Reviews on Local.com In December, the company added several million
ratings and reviews to Local.com.
    
    Ranked Number One in Online Advertising Revenue Growth In December, Borrell
Associates issued their 2008 Outlook: Local Online Advertising, which ranked Local.com
as the leader in online advertising growth for 2007, with a 138% year-over-year increase.
    
    Signed Strategic Partnership with Citysearch In November, the company signed a
strategic partnership with Citysearch, a leading online guide and an operating business of




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IAC (NASDAQ: IACI). Local.com will benefit from additional advertiser revenue and content
on its site by displaying Citysearch business profile data including over one million
editorial and user reviews, as well as ratings, business coupons and photos.
    
    Began Licensing Our Patented Local Search Technology In November, the company
announced the signing of five license agreements for U.S. Patent No. 7,231,405, which
covers methods for indexing and retrieving web-related information by geographical
location.
 Full-year Financial Results:
 
    
    Revenue Revenue was $21.5 million for the year ended December 31, 2007, a 51%
increase over $14.2 million for 2006.
    
    Net Loss For the year ended December 31, 2007, net loss was $18.2 million. Basic and
diluted net loss per share was $1.58. The net loss included $10.6 million of non-cash
expenses which consisted of: non-cash stock based compensation ($1.7 million);
depreciation and amortization ($2.2 million); and non-cash interest expense ($6.7
million).
 Financial Guidance and Balance Sheet:
     Conference Call Information
  About Local.com




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http://uk.local.com ® www.local.com
 Forward Looking Statements
    Media Contacts:
 ctriebwasser@local.com
 dchm@madisonalexanderpr.com
 Investor Relations Contact:




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LOCAL.COM CORPORATION
CONSOLIDATED BALANCE SHEETS
 December 31,
    
    
    December 31,2007
    
    
    2006(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    14,258
    
    
    $
    3,264Restricted cash
    
    
    30
    
    
    
    41Marketable securities
    
    
    1,999
    
    
    
    1,972Accounts receivable, net of allowances of $15 and $9, respectively
    
    
    3,595
    
    
    
    2,091Prepaid expenses and other current assets
    
    
    292
    
    
    
    302Total current assets
    
    
    20,174
    
    
    
    7,670Property and equipment, net
    
    
    1,473
    
    
    
    2,028Intangible assets, net
    
    
    3,156
    
    
    
    2,813Goodwill
    
    
    13,233
    
    
    
    12,213Long-term restricted cash
    
    
    66
    
    
    
    125Deposits
    
    
    12
    
    
    
    42Total assets
    
    $
    38,114
    
    
    $
    24,891LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable
    
    $
    4,029
    
    
    $
    2,851Accrued compensation
    
    
    456
    
    
    
    328Deferred rent
    
    
    316
    
    
    
    432Other accrued liabilities
    
    
    194
    
    
    
    374Notes payable
    
    
    
    
    
    
    63Deferred revenue
    
    
    177
    
    
    
    245Total liabilities, all current
    
    
    5,172
    
    
    
    4,293Commitments and contingenciesStockholders equity:Convertible preferred stock, $0.00001 par value; 10,000,000 shares authorized;
none issued and outstanding for all periods presented
    
    
    
    
    
    
    Common stock, $0.00001 par value; 30,000,000 shares authorized;
14,204,110 and 9,297,502 issued and outstanding, respectively
    
    
    
    
    
    
    Additional paid-in capital
    
    
    82,176
    
    
    
    51,657Accumulated comprehensive loss
    
    
    (1
    )
    
    
    (27
    )Accumulated deficit
    
    
    (49,233
    )
    
    
    (31,032
    )Stockholders equity
    
    
    32,942
    
    
    
    20,598Total liabilities and stockholders equity
    
    $
    38,114
    
    
    $
    24,891




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LOCAL.COM CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
 Three months ended
    
    
    Year endedDecember 31,
    
    
    December 31,2007
    
    
    2006
    
    
    2007
    
    
    2006(Unaudited)
    
    
    (Unaudited)
    
    
    (Unaudited)Revenue
    
    $
    5,932
    
    
    $
    3,628
    
    
    $
    21,525
    
    
    $
    14,213Operating expenses:Search serving
    
    
    978
    
    
    
    874
    
    
    
    3,862
    
    
    
    4,960Sales and marketing
    
    
    5,570
    
    
    
    3,910
    
    
    
    20,268
    
    
    
    13,169General and administrative
    
    
    1,235
    
    
    
    1,234
    
    
    
    4,890
    
    
    
    5,881Research and development
    
    
    684
    
    
    
    617
    
    
    
    2,555
    
    
    
    2,829Amortization and write-down of intangibles
    
    
    325
    
    
    
    237
    
    
    
    1,121
    
    
    
    947Total operating expenses
    
    
    8,792
    
    
    
    6,872
    
    
    
    32,696
    
    
    
    27,786Operating loss
    
    
    (2,860
    )
    
    
    (3,244
    )
    
    
    (11,171
    )
    
    
    (13,573
    )Interest and other income (expense)
    
    
    194
    
    
    
    84
    
    
    
    (7,030
    )
    
    
    288Loss before income taxes
    
    
    (2,666
    )
    
    
    (3,160
    )
    
    
    (18,201
    )
    
    
    (13,285
    )Provision (benefit) for income taxes
    
    
    
    
    
    
    (1
    )
    
    
    1
    
    
    
    1Net loss
    
    $
    (2,666
    )
    
    $
    (3,159
    )
    
    $
    (18,202
    )
    
    $
    (13,286
    )Per share data:Basic net loss per share
    
    $
    (0.19
    )
    
    $
    (0.34
    )
    
    $
    (1.58
    )
    
    $
    (1.44
    )Diluted net loss per share
    
    $
    (0.19
    )
    
    $
    (0.34
    )
    
    $
    (1.58
    )
    
    $
    (1.44
    )Basic weighted average shares outstanding
    
    
    14,197,811
    
    
    
    9,295,036
    
    
    
    11,499,879
    
    
    
    9,249,973Diluted weighted average shares outstanding
    
    
    14,197,811
    
    
    
    9,295,036
    
    
    
    11,499,879
    
    
    
    9,249,973
 Supplemental consolidated statements of operations information:
 Three months ended
    
    
    Year endedDecember 31,
    
    
    December 31,2007
    
    
    2006
    
    
    2007
    
    
    2006Non-cash stock based compensation expense:Sales and marketing
    
    $
    180
    
    
    $
    134
    
    
    $
    544
    
    
    $
    601General and administrative
    
    
    308
    
    
    
    351
    
    
    
    968
    
    
    
    1,674Research and development
    
    
    53
    
    
    
    65
    
    
    
    236
    
    
    
    256Total stock-based compensation expense
    
    $
    541
    
    
    $
    550
    
    
    $
    1,748
    
    
    $
    2,531Basic and diluted net compensation expense per share
    
    $
    0.04
    
    
    $
    0.06
    
    
    $
    0.15
    
    
    $
    0.27