Reachlocal Inc (RLOC) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

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Annual revenue growth of 13%, with 35% growth in international markets (41% on a constant currency basis) and 14% growth in the direct local channel. Fourth quarter revenue growth of 11%, highlighted by 34% growth in international markets (41% on a constant currency basis) and 11% growth in the direct local channel.

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Annual international revenue grew to 34% of revenue (34% on a constant currency basis), up from 28% of revenue for 2012. Fourth quarter international revenue grew to 36% of revenue (38% on a constant currency basis), up from 30% in Q4 2012.

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Annual Adjusted EBITDA of $32.8 million and fourth quarter Adjusted EBITDA of $6.0 million reflecting both the classification of ClubLocal as a discontinued operation and the $4.8 million impairment of amounts due from Oxata. Absent the Oxata impairment, Adjusted EBITDA would have been $10.8 million and $37.6 million for the fourth quarter and year, respectively.

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Expanded European footprint with new operations in Belgium and Austria, expanded presence in major markets including Brazil and Japan, and launched operations directly in Mexico in first quarter of 2014.

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Successfully developed and deployed ReachEdge, a marketing automation software product, selling more than 1,200 licenses since September 2013.

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Initiated sales realignment in the fourth quarter aimed at reaccelerating growth in North America and facilitating ReachLocal’s ability to sell a new multiproduct solution set.

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Active Advertisers grew 9% and Active Campaigns grew 8%, both for the year and the quarter.

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Repurchased 1,394,000 shares of stock for $18.9 million during 2013 at an average price of $13.55 per share; ReachLocal has repurchased 3,380,000 shares for $36.3 million to date.