InfoSpace today reported a net loss of $3.9 million on revenue of $54.3 million. The Bellevue Internet search company posted earnings per share of 10 cents, which was in line with analysts’ expectations.
The net loss included a $7.7 million charge related to the sale of the company’s e-commerce business, Mercantila.
InfoSpace, whose CFO David Binder is leaving for Blue Nile, continues to sit on a huge cash pile of $263.4 million.
CEO Bill Ruckelshaus reiterated today that the company — operator of the WebFetch, MetaCrawler and Dogpile search engines, will use some of that cash for acquisitions.
“With the sale of our e-commerce business in June, our financial results highlight, to a greater extent, the profitability of the search business,” he said. “Additionally, we continue to evaluate acquisition opportunities to enhance long-term shareholder value.”
InfoSpace said that it expects revenue of $55 million to $57 million for the third quarter.