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Marchex today said that it expects revenue in the range of $38.8 million to $39 million for the fourth quarter, with the Seattle online advertising company noting in the preliminary results that “non-call-driven revenues fell short of expectations during the quarter.”

The company had originally told Wall Street that it expected revenue of $40 million.

Marchex CEO Russell Horowitz said in a statement:

“We have had solid growth in our call-driven products over the last two-plus years and have seen good advertiser adoption and validation in our overall call advertising business. With that said, our sales strategy to direct national call advertisers and resellers is still evolving, and we need to remain focused on broadening our footprint with these advertisers in order to minimize concentrations. With direct national advertisers and resellers, we do have exposure to period-to-period variability with committed budgets, which can translate to variability in our financial performance. We will continue making investment decisions focused on our long-term opportunity to be a leader in this emerging market.”

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