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Exhibit 99.1
 
 For Immediate Release
 Local.com Reports First Quarter 2008 Financial Results
 (NASDAQ: LOCM)
  First Quarter Financial Results and Recent Highlights:
 
    
    Record Revenue First quarter revenue of $8.8 million exceeded mid-range guidance by
$600,000, and represented an 81% increase over revenue in the first quarter 2007 and a 49%
increase over revenue in the fourth quarter 2007.
    
    Net Loss First quarter net loss of $2.8 million was within guidance and included
non-cash expenses of $1.2 million or $0.09 per share. Basic and diluted net loss per share
was $0.19The non-cash expenses of $1.2 million consisted of depreciation and amortization ($561,000)
and stock based compensation ($650,000).
    
    Record Monetization Revenue per thousand visitors (RKV) was $228 in the first
quarter of 2008, up 66% from $137 in the year ago period and up 16% from $197 RKV in the
prior quarter.
    
    Record Overall Traffic The company reached record search traffic of 45.4 million
monthly unique visitors (MUVs) on the Local.com site and network during the first quarter,
up from 29.9 million MUVs in the year ago period and 32.1 million MUVs in the prior
quarter.
    
    Record Organic Traffic The company reached record organic search traffic of
16.6 million monthly unique visitors on the Local.com site and network during the first
quarter, up from 2.5 million in the year ago period and double the 8.3 million in the prior
quarter.
    
    Sales Force Expansion The company expanded its direct sales efforts via outsourced
call centers, following the success of the companys in-house sales efforts during the
second half of 2007.




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
    
    Direct Advertiser Base Expansion The company currently has a direct advertiser base
of over 1,500 subscribers with an average monthly revenue per unit of $70 per subscriber.
    
    Grew Technology Licensees The company announced twelve technology licensees for its
local search Patent No. 7,231,405.
    
    Expanded Local Network The company announced the expansion of the LocalConnect
search network to 570 regional media sites, and more recently announced the planned
expansion to over 2,000 sites.
    
    Renewed Distribution Agreement The company renewed and expanded its distribution
agreement with Idearc Media.
    
    Enhanced Advertiser Services The company released enhancements to Local Promote,
the companys flagship subscription advertising product for local businesses, and launched
a new Advertise With Us section of its website offering local advertising tools and
information for business owners.
    
    Received Hitwise U.S. Top Ten Award The company received a Hitwise U.S. Top Ten
Award, ranking seventh in the Business and Finance  Business Directories online
industry category.
 Financial Guidance and Balance Sheet:
    Conference Call Information:
 http://ir.local.com
 About Local.com
 ®




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http://uk.local.com www.local.com
 Forward Looking Statements
    Media Contacts:
 
 Investor Relations Contact:




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LOCAL.COM CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
 March 31,
    
    
    December 31,2008
    
    
    2007(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    14,742
    
    
    $
    14,258Restricted cash
    
    
    30
    
    
    
    30Marketable securities
    
    
    
    
    
    
    1,999Accounts receivable, net of allowances of $15
    
    
    5,755
    
    
    
    3,595Prepaid expenses and other current assets
    
    
    268
    
    
    
    292Total current assets
    
    
    20,795
    
    
    
    20,174Property and equipment, net
    
    
    1,225
    
    
    
    1,473Intangible assets, net
    
    
    2,839
    
    
    
    3,156Goodwill
    
    
    13,233
    
    
    
    13,233Long-term restricted cash
    
    
    66
    
    
    
    66Deposits
    
    
    12
    
    
    
    12Total assets
    
    $
    38,170
    
    
    $
    38,114LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable
    
    $
    5,997
    
    
    $
    4,029Accrued compensation
    
    
    719
    
    
    
    456Deferred rent
    
    
    288
    
    
    
    316Other accrued liabilities
    
    
    216
    
    
    
    194Deferred revenue
    
    
    127
    
    
    
    177Total liabilities, all current
    
    
    7,347
    
    
    
    5,172Commitments 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 for all periods presented
    
    
    
    
    
    
    Additional paid-in capital
    
    
    82,815
    
    
    
    82,176Accumulated comprehensive loss
    
    
    
    
    
    
    (1
    )Accumulated deficit
    
    
    (51,992
    )
    
    
    (49,233
    )Stockholders equity
    
    
    30,823
    
    
    
    32,942Total liabilities and stockholders equity
    
    $
    38,170
    
    
    $
    38,114




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LOCAL.COM CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 Three months endedMarch 31,2008
    
    
    2007Revenue
    
    $
    8,842
    
    
    $
    4,881Operating expenses:Search serving
    
    
    1,453
    
    
    
    807Sales and marketing
    
    
    7,643
    
    
    
    4,699General and administrative
    
    
    1,443
    
    
    
    1,333Research and development
    
    
    878
    
    
    
    699Amortization of intangibles
    
    
    318
    
    
    
    237Total operating expenses
    
    
    11,735
    
    
    
    7,775Operating loss
    
    
    (2,893
    )
    
    
    (2,894
    )Interest and other income (expense)
    
    
    135
    
    
    
    (192
    )Loss before income taxes
    
    
    (2,758
    )
    
    
    (3,086
    )Provision for income taxes
    
    
    1
    
    
    
    1Net loss
    
    $
    (2,759
    )
    
    $
    (3,087
    )Per share data:Basic net loss per share
    
    $
    (0.19
    )
    
    $
    (0.33
    )Diluted net loss per share
    
    $
    (0.19
    )
    
    $
    (0.33
    )Basic weighted average shares outstanding
    
    
    14,204,110
    
    
    
    9,298,281Diluted weighted average shares outstanding
    
    
    14,204,110
    
    
    
    9,298,281
 Supplemental consolidated statements of operations information:
 Three months endedMarch 31,2008
    
    
    2007Non-cash stock based compensation expense:Sales and marketing
    
    $
    240
    
    
    $
    120General and administrative
    
    
    339
    
    
    
    292Research and development
    
    
    71
    
    
    
    79Total stock-based compensation expense
    
    $
    650
    
    
    $
    491Basic and diluted net compensation expense per share
    
    $
    0.05
    
    
    $
    0.05Interest and other income (expense):Interest income
    
    $
    135
    
    
    $
    71Interest expense
    
    
    
    
    
    
    (103
    )Interest expense  non-cash
    
    
    
    
    
    
    (160
    )Total Interest and other income (expense)
    
    $
    135
    
    
    $
    (192
    )