This story was written by David Kaplan.
Online search and information site Infospace posted Q2 net income of $1.9 million ($0.06 per diluted share) from last year's $28.1 million ( $0.86 per share) net loss. Net income in the second quarter of 2008 includes an impairment charge of $4.4 million on the company's investments in auction rate securities. Meanwhile, revenues were up 21 percent $38.3 million. Looking ahead to Q3, Infospace expects revenue to be between $37 million and $39 million. Also, the company expects adjusted EBITDA from continuing operations to be between $4 million and $5 million and net income (loss) to be between net loss of $500 thousand and net income of $500 thousand, or negative $0.01 and positive $0.01 per share. For the full year, Infospace believes revenue will range from $156 million and $160 million, with adjusted EBITDA from continuing operations between $26 million and $28 million and net income (loss) to be between net loss of $500 thousand and net income of $1 million, or negative $0.01 and positive $0.03 per share.
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By David Kaplan