Embattled search engine LookSmart reported earnings in line with expectations ($0.01 loss per share) but lowered its revenue outlook precipitously, down to about $13 million for the next quarter compared to analysts expectations of about $18 million. The company is enjoying a new CEO, who may be - as has become the norm with chief executive switchovers - more vigorously reporting bad news now in hopes future performance will shine all the brighter.