ValueClick 1st-quarter Profit Falls 31 Percent

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. ...