Marchex, Inc. (NASDAQ:MCHX)  reported its results for the quarter ended June 30, 2011 yesterday and had a nice quarter.

Shares of Marchex are up over 19% today in an otherwise down market on the news (trading at $9.34 as of time of publication.

Here are some of the highlights of the earnings report:

Second Quarter 2011 Consolidated Financial Results:

• Revenue was $38.8 million for the second quarter of 2011, compared to $21.4 million for the same period of 2010.

• GAAP net income applicable to common stockholders was $80,000 for the second quarter of 2011 or $0.00 per diluted share. This compares to GAAP net loss applicable to common stockholders of $3.2 million or $0.10 per diluted share for the same period of 2010.

• Adjusted EBITDA was $6.0 million in the second quarter of 2011, compared to ($0.5) million for the same period of 2010. A reconciliation of adjusted EBITDA to GAAP net cash provided by operating activities is included in the financial tables attached to this release.

For the second quarter of 2011, revenue from Publishing, which is Marchex’s proprietary local and category websites that fulfill advertiser campaigns, was $5.4 million.

During the second quarter of 2011, Marchex sold a small number of non-strategic domains that yielded $2.7 million.

Marchex also purchased 379,000 shares of its outstanding Class B common stock for a total price of $2.8 million, bringing its total shares repurchased under its stock repurchase program to 10.4 million shares, or 28% of its outstanding common stock.

“Our performance in the second quarter represents an initial point of validation for Marchex and for all the hard work our people have poured into our company. It also highlights that the bet we made several years ago to be a leader in Digital Call Advertising is beginning to pay off,” said Russell C. Horowitz, Marchex Chairman and CEO. “While we are pleased with our progress, we also recognize that the digital call advertising industry is in its early stages, and we will need to stay focused on continued execution in driving live connections, new customers and more sales for our call advertisers.”

Marchex Guidance:

The following forward-looking statements reflect Marchex’s expectations as of August 4, 2011.

Financial guidance for fiscal year ending December 31, 2011:
Revenue:		$147 million to $149 million
Adjusted Operating Income Before Amortization:		More than $18.5 million
Adjusted EBITDA:		Estimated add-backs of approximately $4.5 million in additional depreciation and amortization to adjusted operating income before amortization, implying an adjusted EBITDA of more than $23 million.
Long Term Adjusted EBITDA Margin Target:		20% or more

2011 GAAP income (loss) from operations is expected to be ($1.4) million or better, assuming stock-based compensation between $15.0 million and $16.5 million and amortization of intangible assets from acquisitions between $5.5 million and $6.5 million. This estimate excludes any prospective gain or loss on sales and disposals of intangible assets.

Financial guidance for the third quarter of 2011:
Revenue:		$39 million – $40 million
Adjusted Operating Income Before Amortization:		$5.1 million or more
Adjusted EBITDA:		Estimated add-backs of approximately $1.0 million in additional depreciation and amortization to adjusted operating income before amortization, implying an adjusted EBITDA of $6.1 million or more.

Third quarter GAAP income (loss) from operations is expected to be ($1.9) million or better, assuming stock-based compensation between $3.7 million and $4.5 million and amortization of intangible assets from acquisitions between $1.7 million and $2.5 million. This estimate excludes any gain or loss on sales and disposals of intangible assets.

“For the third quarter of 2011, even with our focus on investing our current revenue growth back into hiring and market leadership opportunities, we expect adjusted operating income before amortization and EBITDA to be sequentially higher than in the second quarter,” said Michael Arends, Marchex Chief Financial Officer.