Local search site Local.com reported their Q4 2009 earnings today. Revenues of $16.4 million an increase of 8% over the Q3 2009 revenue of $15.1 million. Adjusted Net Income was $2.0 million, an increase of 49% over Q3 which came in at $1.3 million.

Traffic for owned and operated sites in Q4 was 45 million uniques per month, up 4% from Q3 2009 and up 59% year-over-year. But revenue per thousand visitors was $257, down 5% from Q3 2009's $270, and down 7% from Q4 2008's $275.

Local.com's stock was down 1.96% at the time of this post.