DoubleClick Sees a Mixed Picture

The company boosts profit forecasts but cuts its top-line guidance.
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DoubleClick

(DCLK)

beat bottom-line expectations after a day of getting hammered by fallout from

Yahoo!

(YHOO)

.

The Internet advertising firm raised pro forma profit expectations for the second quarter but said its divestiture of certain operations would lower revenue below current expectations.

DoubleClick's stock fell $1.18, or 10.6%, to close at $9.98 Thursday, before its release of quarterly financials. The company evidently got tangled in the coattails of Yahoo!, whose good-but-not-great results announced Wednesday dragged its shares down more than 16%. In after-hours trading, DoubleClick's shares were little changed.

For the first quarter ended March 31, DoubleClick reported revenue of $83.7 million, down from $114.9 million in the first quarter of 2001 and slightly off the $84.2 million mean forecast of the analysts surveyed by Thomson Financial/First Call.

Pro forma earnings per share amounted to a penny, compared with an 8-cent loss a year earlier. Analysts had been expecting a 4-cent loss.

Including amortization of intangibles, certain nonrecurring charges and other items, DoubleClick reported a loss of $6 million, or 4 cents a share, much smaller than the year-ago loss of $60.4 million, or 48 cents a share.