DoubleClick Reports Sales, Profit Growth
DoubleClick reported $7.7 million in net income, up from $906,000 in the year-ago period. It said profits were helped $2.4 million by a payout from MaxWorldwide's liquidation and the reversal of $1.5 million reserve from an earlier acquisition.
DoubleClick's data business fared better than its tech solutions unit. Data revenue rose 23 percent in the quarter while tech solutions revenue climbed 9 percent.
DoubleClick reported growth in both its ad management and e-mail businesses. Ad management revenue was $33.3 million, up from $31.1 million a year earlier. It signed ad management contracts with 40 businesses in the quarter, including Sports Illustrated and ESPN STAR Sports. Ad management revenue fell slightly from the fourth quarter.
DoubleClick said it expects its ad management business to stay flat in the second quarter, bringing in $32 million to $35 million.
The company lowered its guidance for the year following its acquisition of SmartPath. Though DoubleClick expects the marketing resource management company to add $4 million in revenue, it expects it to take away $5 million in net income. The company now forecasts 2004 revenue at $294 million to $314 million, and net income of $33 million to $44 million.