DoubleClick's 1Q Revenue, Operating Expenses Fall
Marketing technology and services provider DoubleClick Inc. yesterday reported $60.1 million in revenue for the first quarter of 2003.The figure represents a 28.2 percent decline from the same period last year, mainly due to DoubleClick, New York, having divested itself of its media, research and Japan-based businesses, the company reported.
As a result of the divestitures and unspecified cost-cutting moves, DoubleClick also reported that its operating expenses for the quarter were $38.6 million, down 32.6 percent from $57.3 million for the same quarter last year.
DoubleClick said it currently employs 1,088 people. It also reported it ended the quarter with $745 million in cash and marketable securities and a net cash position of $585 million, or $4.28 per share.
DoubleClick's TechSolutions division reported first-quarter revenue of $41.5 million. Its DARTmail e-mail solution accounted for $9.5 million in revenue in the quarter. Its data division accounted for $18.5 million.
The company projected second-quarter revenue of $60 million to $63 million. It projected for the second quarter that its TechSolutions division's revenue will be $41 million to $44 million; that data revenue will be $18.5 million to $19.5 million; and that DARTmail revenue will be $9.5 million to $10.5 million. DoubleClick said it expects operating expenses of $38 million to $40 million.
