ValueClick Reports Rising Profit
The Westlake Village, CA, Internet marketing services provider said revenue in the quarter was $30.3 million, a 61 percent increase from the same quarter a year earlier. Net income tripled to $5.3 million.
The results capped a string of positive financial reports from online ad technology providers. A week earlier DoubleClick and aQuantive reported strong profit growth thanks to the recovery of the online ad market. The Interactive Advertising Bureau estimates that Internet ad sales grew 38 percent in the fourth quarter.
ValueClick expanded its business in 2003 largely thanks to acquisitions. It acquired Search123 in May 2003 and affiliate marketing company Commission Junction and e-mail list provider Hi-Speed Media in December.
ValueClick expects to continue its growth. For 2004, it forecasts $145 million to $148 million in sales and $36 million to $38 million in earnings before interest, taxes, depreciation and amortization.