LOOK » Topics » Credit Risk Evaluation

This excerpt taken from the LOOK 10-Q filed Aug 9, 2006.

Credit Risk Evaluation

Accounts receivable are typically unsecured and are derived from revenue earned from customers. The Company performs ongoing credit evaluations of its customers and maintains allowances for estimated credit losses. The Company applies judgment as to its ability to collect outstanding receivables based primarily on management’s evaluation of the customer’s financial condition and past collection history and records a specific allowance. In addition, the Company records an allowance based on the length of time the accounts receivables are past due. Historically, such losses have been within management’s expectations. As of June 30, 2006, one customer accounted for 24% of accounts receivable. As of December 31, 2005, one customer accounted for 28% percent of accounts receivable.

 

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This excerpt taken from the LOOK 10-Q filed May 10, 2006.

Credit Risk Evaluation

Accounts receivable are typically unsecured and are derived from revenue earned from customers. The Company performs ongoing credit evaluations of its customers and maintains allowances for estimated credit losses. The Company applies judgment as to its ability to collect outstanding receivables based primarily on management’s evaluation of the customer’s financial condition and past collection history and records a specific allowance. In addition, the Company records an allowance based on the length of time the accounts receivables are past due. Historically, such losses have been within management’s expectations. As of March 31, 2006, one customer accounted for 36% of accounts receivable. As of March 31, 2005, no one customer accounted for 10 percent or more of accounts receivable.

 

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This excerpt taken from the LOOK 10-K filed Mar 15, 2006.

Credit Risk Evaluation

 

Accounts receivable are typically unsecured and are derived from revenue earned from customers. The Company performs ongoing credit evaluations of its customers and maintains allowances for estimated credit losses. The Company applies judgment as to its ability to collect outstanding receivables based primarily on management’s evaluation of the customer’s financial condition and past collection history and records a specific allowance. In addition, the Company records an allowance based on the length of time other receivables are past due. Historically, such losses have been within management’s expectations. As of December 31, 2005 one customer accounted for 28% of accounts receivable and another customer accounted for 13% of accounts receivable. No one customer accounted for 10% or more of accounts receivable as of December 31, 2004.

 

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LOOKSMART, LTD. AND SUBSIDIARIES

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

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