SearchCore Turns To Loss In Q3

(RTTNews) - SearchCore, Inc (SRER.PK), a technology-based Internet marketing services company, Wednesday reported loss for the third quarter over profit for the same period last year.

The company said that third quarter revenue results reflect the first nine months of SearchCore operations since the company sold its most successful finder site weedmaps.com in December 2012.

SearchCore posted a third-quarter loss of $776,000, or $0.02 per share, in contrast with a profit of $1.04 million, or $0.02 per share, a year earlier.

The company also said that the previous-year quarter's results included a non-cash gain of $201,000 on the change in fair value of earn-out liability.

For the three months to September, EBITDA loss was $734,000 compared with EBITDA of $1.28 million a year earlier.

SearchCore's revenues declined drastically to $191,000 from $4.33 million a year earlier.