Revenue in free-fall, but company still generating cash.
Domain name and local search company Marchex (NASDAQ: MCHX) today reported a 44% drop in revenues for Q2 2009 compared to the same quarter last year, but the company still managed to generate cashflow and carries no debt.
The company posted $21.1M in revenue for the quarter, compared to $37.4M in the same quarter of 2008. For the first half of the year revenue dropped to $47.7M compared with $74.4M in the first half of 2008.
Marchex also reported that it sold a small number of domain names for $900,000 during the quarter.
The company reported a loss in the quarter on a GAAP basis, losing 4 cents per diluted share. Last year in the same quarter the company earned a penny per share. On an adjusted basis, the company earned 3 cents per share compared to 9 cents in the same period last year.
Marchex will hold an investor conference call this afternoon. It’s stock is down a penny in after hours trading.