DoubleClick (DCLK) beat first-quarter expectations and raised guidance for the year.
The marketing services firm, which was launched as an Internet advertising sales company, also predicted 2003 would be its first full year of profitability as measured by generally accepted accounting principles.
For the first quarter ended March 31, DoubleClick reported revenue of $60.1 million, about half a million dollars ahead of the Thomson Financial/First Call analyst consensus, but down from $83.7 million in the first quarter of 2002. The revenue decline chiefly stemmed from business divestitures, including the company's ad-sales unit.
Earnings per share, excluding amortization of intangibles, gains and losses on sales, and other items, amounted to $3.5 million, or 3 cents per share, beating the one-cent analyst forecast and the year-ago figure of $1.4 million, or a penny per share.
On a GAAP basis, DoubleClick netted $1.4 million, or a penny a share, in the first quarter, compared to a loss of $6 million, or 4 cents per share, one year ago.
DoubleClick expects the bottom line to stay in the black for the rest of the year. For 2003, the company is raising GAAP EPS guidance from an implied range of a penny loss to a 9-cent profit, to a range of 3 cents to 12 cents.
DoubleClick's shares, which fell 45 cents to $8.29 in normal trading, gained back 26 cents after hours.