Marchex, Inc. one of the stocks in our Domain Parking Stock Index, is down over 15% today after reporting earnings, yesterday.
Marchex as of noon is trading, at $4.25 down $.78
Last night after the market closed Marchex announced earnings for the 4th quater of 2008.
Highlights from the earnings report were:
Marchex also posted full results for 2008, last night after the market closed. Highlights of the full 2008 earning report were:
Here are some statements from the earnings statement:
For the fourth quarter of 2008, revenue from Local Advertising Services was $16.7 million. Marchex ended the fourth quarter with more than 70,000 advertisers using its products and services.
Marchex expects to add thousands of new advertisers in 2009.
Publishing (proprietary traffic sources, formerly referred to as Marchex’s Local Search Network): For the fourth quarter of 2008, revenue from Publishing was $18.1 million. Additionally, Marchex attracted more than 27 million unique visitors for the month of December 2008 and delivered more than 170 million revenue-generating events and referrals in the fourth quarter.
During the fourth quarter of 2008, Marchex increased its stock repurchase plan by 1.0 million shares to 7.0 million shares. Additionally, the company purchased 1.4 million shares of its outstanding Class B common stock and the remaining outstanding preferred shares for a total price of $7.9 million, bringing its total shares repurchased under its stock repurchase program to 6.0 million shares, or 16% of its outstanding common stock.