Profit Flat at ValueClick

Guidance comes in short.
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ValueClick's

(VCLK)

third-quarter earnings beat Wall Street estimates, but fourth-quarter guidance fell short of expectaions.

The online advertising company said net income was flat at $16.8 million, or 17 cents a share.

Revenue came in at $156.9 million, up 14% from the same period a year ago.

Analysts surveyed by Thomson Financial/First Call had expected earnings of 16 cents a share on revenue of $156.6 million.

In October, the company had

guided forecasts lower because of weakness in its leads-generation business.

For the fourth quarter, the company said it expects EPS between 17 cents and 18 cents on revenue of $172 million to $177 million.

Analysts had expected EPS of 20 cents on revenue of $177.8 million.

For the year, the company says it expects earnings per share of between 70 cents and 71 cents on revenue of $635 million to $640 million.

Analysts had forecast earnings of 72 cents a share on revenue of $638.7 million.

The company also announced that it paid $96.8 million in net cash related to the acquisition of MeziMedia and $44 million to repurchase 2.3 million shares of its stock during the quarter. It currently has $56 million of authorization remaining in its stock repurchase program.

Shares of ValueClick were off 8 cents in recent after-hours trading to $25.