Earnings
ValueClick 1st-quarter Profit Falls 31 Percent
The Associated Press
05/05/09 - 05:12 PM EDT
WESTLAKE VILLAGE, Calif. (AP) ValueClick Inc., an online advertising company, on Tuesday reported a 31 percent drop in first-quarter profit as revenue fell. But results still beat analysts' expectations.
The company earned $13.2 million, or 15 cents per share, compared with $19.2 million, or 19 cents, in the year-earlier period. Excluding the impact of stock-based compensation, discontinued operations and amortization of intangible assets, profit would have been $18.8 million, or 22 cents per share.
Revenue came to $135 million, down 20% from $169.1 million a year earlier. Analysts were forecasting revenue of $130.4 million and a profit of 12 cents per share, according to Thomson Reuters.
ValueClick said it expects to report second-quarter revenue of $124 million to $130 million and earnings of 13 to 14 cents per share.
Analysts are forecasting a profit of 14 cents per share on revenue of $132.5 million.
Shares of Westlake Village, Calif.-based ValueClick fell 16 cents to close at $10.84 on Tuesday. Earnings were released after the market's close. After hours, the stock gained 47 cents, or 4.3 percent, to $11.31.